QQQ topping out
Typically a good top signal is when u have > 3 more green candles above the keltner channel. Together with a decreasing ATR / and RSI >65 show signs of QQQ topping out.
What is missing a trigger that:
1) Thursday's job data (given the past few job data has been positive for QQQ though. Jobs might be picking up)
2) Wednesday's Inflation prices PMI ( clearly it should go upbeat consensus. Question is by how much)
3) yields spike up (highly unlikely given it is being artificially suppressed by the Fed & Jap buying)
Historically, this week is weak for the tech though unless the above-mentioned trigger, it might be postponed to next week..
What is missing a trigger that:
1) Thursday's job data (given the past few job data has been positive for QQQ though. Jobs might be picking up)
2) Wednesday's Inflation prices PMI ( clearly it should go upbeat consensus. Question is by how much)
3) yields spike up (highly unlikely given it is being artificially suppressed by the Fed & Jap buying)
Historically, this week is weak for the tech though unless the above-mentioned trigger, it might be postponed to next week..
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