QQQ BTD Meets Stellar Megacap Earnings

Buyers are stepping right back in on strong fundamentals rather than waiting for a deeper pullback

1. Catalysts

AMZN

• Cloud & ad segments both surprised to the upside, margins expanded sharply - that’s the kind of result that revives the “AI + consumer resilience” narrative
  

AAPL

• Solid services growth and upbeat iPhone guidance, plus strong China sales commentary - markets read that as macro-resilient
  
• Together, these two control nearly 18-20% of QQQ’s weighting, so their beats mechanically lift the ETF
  

2. Technical implication

• Futures & post-market prints around +1% (≈$632 to $639) mean QQQ is already testing back above R3 ($630.9)
  
• If that holds into tomorrow’s open, it neutralizes the bearish engulfing from earlier & confirms buyers defending the channel
  
• RSI on the 4H will likely turn up again before it ever reaches 50 - a bullish reset without full mean reversion
  

3. Key levels overnight into tomorrow

• $637-$640
  
• Post-market top/resistance band
  
• If it breaks & holds >$640, then momentum squeeze likely
  

$630-$632

• Prior R3/now potential support
  
• Buyers defending here = bullish continuation
  

$620-$625

• Must-hold range if futures fade
  
• Below $620 would reopen mean-reversion path
  

If futures fade back to ~$632 at open, that’s normal profit-taking - the key is whether the first dip gets bought quickly

• This is classic “buy-the-dip meets stellar megacap earnings” behavior
  
• Given the Fed pause backdrop & strong tech prints, the odds now tilt toward QQQ retesting ~$645-$650 before any new consolidation phase