Invesco QQQ Trust (QQQ) is currently trading at $264.52. After an optimistic gap higher to start the new year on the open, the sellers have stepped in to put the market in negative territory. Weak delivery numbers sees TSLA down over 10% and that could be having an impact on sentiment today as we await the Fed minutes on Wednesday.
$262/263 was a support area from last week. $261/$259 is a major support area below that. 52-week lows in the QQQ’s are $254.26.
Above $263, the next target to the upside is $267e. Above that the next target is $270 and then $272. There is still a gap to fill at $273.45