Invesco QQQ Trust (QQQ) bounces as hoped of easing inflation grows

After breaking below $263 in the Invesco QQQ Trust (QQQ)‘s this morning, buyers were found around the $260/$261 and we’re back above $263 yet again.

QQQ stock chart

The important $262/263 support area from the last couple of days/weeks is being tested yet again this morning. There’s been some huge buying at this level so that will be a very important line in the sand moving forward. 

$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 $267. Above that the next target is $270 and then $272. There is still a gap to fill at $273.45