# QQQ Support at $700. Bears in Control?
$QQQ is testing the $700-$705 support zone after last week's 4.18% Nasdaq selloff. The 50-day moving average sits near $710, and price is now below it.
RSI (14) reads 44.3. Neutral, but tilting bearish. The MACD histogram shows bearish acceleration. Volume during the selloff was elevated, suggesting institutional distribution rather than retail panic.
Key levels:
- **Support:** $700-$705 (must hold), $690 (critical), $670-$680 (next major zone)
- **Resistance:** $722-$726 (first wall), $738-$740 (significant barrier), $746-$748 (recent swing highs)
The 200-day moving average is still well below current prices, so the long-term trend remains bullish. But the short-term structure has shifted to sellers.
A daily close below $690 would invalidate the bullish defense and open the door to a deeper correction toward $650-$670.
Reactive over predictive. Wait for levels to confirm before committing capital.
*Educational analysis only. Not financial advice.*
#QQQ #TechnicalAnalysis #Support #Nasdaq #ChartAnalysis
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