Technical analysis by ContraryTrader about Symbol QQQX: Buy recommendation (12/7/2025)

I think in the coming week we will see Qqq close gap at 632, there is a chance for a pullback to 618-620 also this week.. I'll explain below how I come to both conclusions.. First The bad : I'll start with The VIX Fallen wedge here which is bullish for the vix... looks like a minimum bounce back to 17.00 is coming this week.. Max upside if Fomc goes bad is 19.50 -20.00 or 200ma Naturally if the vix spikes you will see a pullback on equities.. If the vix spikes to 17.00 then I think we pullback to 618-620 This pullback would with a break below 622.00 Now if vix spikes back to 20.00, well that's the worst case scenario and that would put Qqq at 611-613 which provides the strongest support 20/50 sma plus price action If qqq breaks below 610 and vix spikes above 23 then the bull rally is over ! I think as long as 613 holds Qqq is going to 640 minimum and 655 max Remember at the end of the day we are dancing with the devil up here at the 15yr resistance Bulls haven't last more than 2weeks up here in the last 2yrs before a 7-15% correction I'm not showing this to confuse you, I'm showing you the bigger picture so you can understand that despite whatever bullish move that happens in the next 2weeks I don't think it sustains through the entire Dec and another sell like what we saw in Nov is around the corner.. Now on to why I feel like qqq is headed to 640-660. First off Qqq is showing a broadening wedge and it has reclaimed its summer channel A descending broadening wedge usually pushes the stock/Index back to its ATH (See iwm) and sometimes higher .. The measured moved goes like so so an 8% move up from the breakout would put Qqq at 660 or 1.618 on fib extension When you look at the 3 biggest sectors XLC XLK SMH You'll see similar bullish patterns XLC Just broke out of a bullflag in its 3 yr uptrend Bullflag wants to take this sector back to 120 minimum META and NFLX will pump XLC the most XLK Same broadening wedge as Qqq and pretty much same analysis This move up on XLK I think will push MSFT back to 510.. SMH Chips Same broadening wedge as Qqq and XLK Actually outperformed most tech Sectors because of Intc , amd and AVGO.. but I think the next leg up comes from NVDA with a push back to 190ish Now , down to the action/Tradeable analysis.. QQQ , wait for a move back above 627.00 to go long next week.. target of course is 632 Qqq has been trading for the most part of this rebound in this tight channel in white; Keep an eye out for the resistance Any opening bove 623 is neutral and you could try calls with a stop below 622.00 Things get bullish back above 627 Things get bearish below 622 with a target of 618. 622-627 IS CHOP.. Has a gap left open at 617 and the 1hour 200ma is there too . I know I said below 618 and 612 comes but they could dip for the gap close and push back above.. There is a trade I like going into this week. 1st . MSFT Weekly chart has given 3 higher lows. Daily chart is showing wedge breakout and retest I think it's headed back to 510 this month which in perspective is only a 5% upside. Above 485 take calls to 492 Above 495 take calls to 510 Simple setup.