$Invesco QQQ Trust (QQQ.US)$ We have tried to push towards ...

We have tried to push towards 402 after closing above 398 fibonacci but got a strong rejection at 400. Which is for the 1st time this week we have seen such a rejection.

Does this mean the pullback is coming? Quite likely. But we can also push up to 402 first before having any sharp pullback down to 380s level to retest our previous resistance turn support level.

Is it time to enter? Like I said at the start of the week and will say again today the answer is no.

This is the time people are taking profits as some of us bought at the bottom during the correction on mid October. We are locking in profits now that it has hit the top and waiting for pullback to buy back in.

Do not chase the top and only wait for a pullback to enter. That way you can practice buy low and sell high.

It hurts to see the stock go up day by day without any exposure to it, but remember it only truly hurts when you entered and you see it start dropping and you are stuck at the high cost basis while others buy it back at the pullback zone.

Patience is needed in both investing and trading.

As always, trade safe & invest wise!