Bullish QQQ Above 619

• QQQ Jan 23: 622.72 close (up from 608.06 Jan 20 low)
• SPY Jan 23: 689.13 close (up from 677.56 Jan 20 low)
• QQQ EMAs: 5(621.71), 9(620.98), 20(620.38)
• VIX decline: 16.90 → 16.09 → 16.09 (3-day trend)
• Market breadth improving per journal entries
• Key technical level: QQQ above 619 resistance

Based on recent market data, QQQ shows signs of recovery after a sharp decline early in the week. The ETF has bounced from January 20 lows near 608 to close Friday at 622.72, successfully testing resistance around the 619 level mentioned in technical analysis. SPY has shown similar resilience, recovering from 677.56 to 689.13 over the same period. Both securities are trading near their EMA5 levels around 621-622, suggesting potential consolidation before next directional move. VIX has declined from 16.90 to 16.09, indicating reduced volatility and improved sentiment. Key resistance levels to watch: 6885 for SPX and continued holding above 619 for QQQ to confirm the recovery pattern.