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Shared the above chart yesterday morning, sharing that the NDX looked prepared to do a “Houdini act” and escape from its multi-months sideways channel. (see Houdini post)

Below is an short-term update of the QQQ ETF…

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A week ago Apple was facing similar resistance and the suggestion was to follow a breakout (see Apple heading to $430 post) 

Did the idea of buying Apple on a breakout give you butterflies?  I understand if it did.  Resistance had been in place since February, once Apple broke resistance is shot higher.

The QQQ ETF has been pushing on overhead resistance since February as well….a breakout above resistance should be very good for the Q’s!

Game Plan…Just like Apple, will want to be an owner on a breakout.

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past