Invesco QQQ Trust, Series 1
Short
Updated

QQQ - Rising Wedge Breakout Short

502
Idea for QQQ:
- Rising Wedge breakout to the downside, then obligatory re-test.
- QQQ Three Resistances Confluence (ATH, Ending Diagonal within an Ending Diagonal):
snapshot

- Inner:
snapshot

- ATH fake breakout can be seen as UTAD on Distribution.

GLHF
- DPT

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Bitcoin will lead down. Bitcoin is the techiest of tech:
snapshot
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for EW: snapshot
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First drop incoming: snapshot
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Distribution Cycle:
QQQ - First Drop Incoming (Sagittarius)
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o/n RRP tightens systemic liquidity. RRP rates were a death blow to the bubble top rally. Cash reserves being sucked out of the system should widen the rates spread (OIS-LIBOR), and kill High Yield/Junk Bonds. NDX is just a HY derivative:
snapshot

Any rallies now should be faded, barring dovish changes in monetary policy.
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NQ seems to be at or near a peak, drop here is 12700 with certainty: snapshot
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HY just fell off: snapshot

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