Feb. 4 at 2:58 AM
$QQQ — updated levels of liquidity
QQQ is starting to look weaker on the 1-hour chart after getting rejected near 628, which triggered a sharp move lower. Price is now sitting below the falling 50-hour EMA, showing short-term bearish momentum, and the 617 area that once acted as support is now acting as resistance. The bounce off 610 looks more like a short-term pause than a true reversal. With RSI still below 40 and MACD negative, the downside remains in play unless price can reclaim the 617–622 zone.
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