Tech Driven Rally Set to Squeeze Invesco QQQ higher (MNDY,LLY,AFRM)

The QQQ’s are slightly higher this morning as the semiconductors are mixed and trying to find a direction this morning after gapping to all time highs on the open but giving up those early gains.

The first major target to the upside in the QQQ’s is $424 and then the all-time highs at $424.73 above that. Above that there is blue sky, and I’d be looking at round numbers such as $435 and $435 as potential targets.

The first potential support is now $415, $412, $410, then $403, $402 and the $400 round number. Below that is $396.25 and then $394. Below that is the $388 level, then the $384/$383 area followed by $380.

$LLY – This week, I think we will continue to see the markets move higher. That might surprise you since we just had another epic short squeeze that carried the markets dramatically higher the last couple of days.

$MNDY – Keybanc upgrade its price target on MNDY to $220 this morning and the stock broke out to new 12 month highs. The stock is showing relative strength to the overall market and I think there could be plenty more upside from here if the momentum continues. MNDY reports earnings on Feb 12.

$AFRM – After pulling back from the recent highs, AFRM gapped up and is showing relative strength this morning. I think there could still be a lot of shorts here, and if AFRM continues to hold higher, I think a big squeeze could be on the cards.

This content is intended for informational purposes and should not be considered financial advice. Investors are encouraged to perform their own due diligence and consult with professional advisors before making investment decisions.