Does it go up now?

Let's look at the 2 ETFs: We said that QQQ / NASDAQ was ready for a bigger correction. The Monday forecast indicated a dip followed by a positive scenario along the upper trendline which starts at 366. The support line was calculated to be 359 USD.


And what happened? It dipped on Monday, Tuesday etc. and it touched the calculated support at 359 USD:

QQQ

If you zoom into the 4-hour forecasts ("we are in a short-term market", we said in our last post), you can see that QQQ always tried to come back to the dotted minimum support line calculated on Tuesday:


SPY - 4hour time period

Similar things happened with SPY. It was forecasted to be quite bullish + there was a support at 438 USD plus a 2nd safety net at 431 USD. It touched the 1st support and didn't close deeper.


SPY

So if we trust in backtesting results statistically the both ETFs should recover now and touch the yellow zones forecasted on Monday with a chance of approx. 70%.