W for the Win QQQ

Ok I waited for this and really doubt it would pan out.

We have a W pattern in the brink of a breakout.

Now, lets take the political spectrum. We are not in the climate for expansion after the dwarf star called the stimulus pack from 2020.

Even if it was not a recession it is hard to be bullish.

So lets get to it

Bullish View - Earnings report was interesting. There was very little that showed stock weakness including the massive move by Tesla. I can see $300 level being a big barrier from getting the W pattern to play out. Be vigilant that it can turn back around as quick as it ran up.

Bearish View - Lets be serious... how this run up still here? Being below the 0 line in the weekly does not bold well for enthusiasm to take this to 300, let alone the measured move of 310. Look for reversal patterns and exhaustion. Time to take this down, been months since a new low was formed.