QQQ’s Bounce Faces a CPI Test as NVDA Signals Oversold Conditions
The market rebound is facing its first major test, with CPI data due tomorrow and several major tech stocks flashing potential reversal signals.
While $QQQ is struggling at its 200DMA, $NVDA, $MU and $AVGO are showing oversold setups that could open the door to a bounce.
Here's what to watch across six key names. 👇
$Invesco QQQ(QQQ)$ : As expected, QQQ bounced off the lower Bollinger Band. But with CPI due tomorrow, the rebound is about to face its next test. The 200DMA acted as firm resistance in today's session.
$NVIDIA(NVDA)$ : Set to open with a major gap down, breaking below both its daily and weekly lower Bollinger Bands. Similar setups marked market bottoms in April 2025 and March 2026.
$Micron Technology(MU)$ : After breaking below the lower Bollinger Band, MU could consolidate or bounce toward the 20DMA. For even a modest consolidation setup to take shape, it needs to reclaim $696 by today's close.
$Broadcom(AVGO)$ : A break below the lower Bollinger Band has triggered a bounce setup in several stocks we studied over the weekend. AVGO could follow the same pattern, with the open gap at $321 supporting the thesis.
$Amazon.com(AMZN)$ : A healthy consolidation may be next. The shooting star candle and overbought oscillator both point to a potential pause.
$Meta Platforms(META)$ : Reclaimed its 200DMA. This is a critical level to hold if the market bottom is indeed in.
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