NASDAQ and QQQ in focus with Nov close looming.

The NASDAQ is in focus with the looming November close as the index looks to try and hold the 5,200 level and print a potential third monthly candle close above this key breakout level. A successful hold above 5,200 would help to develop a bullish ascending triangle breakout following those already seen on the the S&P500 and DJIA indices. The NASDAQ 100 ETF, QQQ, is also in focus as it trades just below the 120 breakout level.

NASDAQ monthly: watch to see where the November monthly candle closes. A close above 5,200 would support the ascending triangle breakout pattern with a target of 9,200:

nasdaqmonthly

The S&P500 and DJIA have already made their ascending triangle breakouts so the NASDAQ is dragging the chain a bit here.

S&P500 monthly: the ascending triangle breakout here evolved back in 2013:

spmonthly

DJIA monthly: the ascending triangle breakout here evolved back in 2013 as well:

indumonthly

NASDAQ  weekly: a recent Bull Flag has stalled as the index navigates this 5,200 level:

nasdaqweekly

NASDAQ  daily: the 5,200 level has been tested a bit of late:

nasdaqdaily

QQQ: This ETF tracks the top 100 NASDAQ stocks but excluding financials. This ETF is forming up within an 'ascending triangle' pattern as well. Some see a 'Cup' pattern but, either way, both patterns are bullish.

QQQ monthly: watch for any new close above the 120 breakout level:

qqqmonthly

QQQ weekly: the 120 is being tested:

qqqweekly

QQQ daily:  keep an eye on the 120 level:

qqqdaily