QQQ's Bounce May Not Be the End of the Story
$QQQ finished the week above its 20-week moving average, improving the short-term technical outlook and opening the door for a potential B-wave rebound.
The next move could take two paths. A stronger rally may retest the previous all-time high, similar to January's recovery, while a more modest bounce could retrace only part of the decline from the June peak.
If the current rebound follows a classic corrective structure, attention would then shift to a potential C-wave decline. From a technical perspective, the 637 area, corresponding to the Q4 2025 and Q1 2026 highs, becomes an important level to watch if downside pressure returns.
The coming weeks may determine whether this is the start of a new trend or simply a pause within a broader correction.
