Short‑Term Slightly Bullish, Mid‑Term Bullish

**Short‑Term (1 week) – Slightly Bullish**
QQQ broke the 620‑area support but quickly reclaimed the 610‑615 zone, suggesting a possible near‑term bottom. The VIX is still sitting at ~18, well under the 20‑level that usually signals heightened fear. Resistance sits around 6820‑6880; a bounce from current levels looks more likely than further downside, especially after the recent intraday reversal.

**Long‑Term (1 + month) – Bullish**
November historically is the strongest month for the S&P 500, and a six‑month winning streak historically favors a November rally. AI capex remains only ~1.3 % of GDP—well below historical bubble thresholds—so the AI narrative is still an upside driver. Earnings from the major tech leaders continue to beat expectations, and broader market leadership (especially Mag‑7) is intact. Technical targets near 6950‑7000 point to continued upside as the year‑end rally unfolds.