Technical analysis by ContraryTrader about Symbol QQQX on 11/7/2025

Pullback from summer channel top to channel bottom is underway and almost finished.. But go to your weekly and zoom out a decade Logarithmic Zoomed in So yes, we are at the bottom of a 6month channel but we are still at the top of a 15year trendline and I don't think we last above here much longer.. Alright so I won't go into the sectors on this one , I'll just stick with Qqq and the next couple of weeks of price action to help with direction Daily channel Bottom of this channel is 609 Now here comes the actionable analysis Strong fib support and price action at 607 1hour 200sma is at 612 and Fib resistance is at 613.. that will be your resistance So 607-609 is support and 612-614 is resistance.. Don't overthink this.. Below 607 and 600 comes (50sma).. I think a break below 607 may come next week. So if you want to short either wait to see 606 or wait for a retest 0f 612-614. Shorting here near support is stupid and stressful. If you want to scalp the dip, I'd buy and 608-607 with a stop below 606.50.. target is 612.. Strong long only comes above 620, the we will tag 626.. Now here's my opinion on how long I think this will go on and how deep we can dive. I think 589 gap close is the target for this pullback here, but that only comes with a break of 600. I don't think we will cut straight through 600 either. Most likely a nice bounce comes there. From 589 we should have a rally back to 610 minimum. You want to know if we will get another high this year? Like I said earlier we are at the top of a 15yr trend which we've been grinding higher on A.I Deals/News. If we don't break below 607 by late next week then I would consider this pullback over and done but 607 is key. Good luckQQQ bounce should finish up to here near 626-628... From there I think we reverse back down but we will need to break back below 616 to be fully bear. Over 629 and they will push this to 635Delayed Economic data should come late in the week that could be a catalyst