QQQ channel rejection in play

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Key resistance here on Nasdaq. Interestingly, SPY has a more bullish support setup on a major channel, so this juncture is really a massive pivot point. If we go much lower I think the market can drop to areas near the October lows.

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ملاحظة

292~ area is an A=C on lower timeframe, I'd expect support there on the daily, and then pivot point at 283 next. The red arrow scenario is far from guaranteed, one level at a time for now..