QQQ - Saved By the Bell - Just Getting GOOD! BEARISH
We've been moving sideways lately, but at the end of Powell's FOMC press briefing, we started breaking bad.
It's looked like A/B/C down/up/down repeat for a bit with an overall trend down towards the bottom of a channel line (black dotted headed up), going back to 2009
$273 will be a REALLY INTERESTING number if we drop a bit more. Not sure how interested I'll be at $273.
Bounce? and stay in the 11 year long up trend channel? or plunge past?
Normal 8 year / 33% correction cycle?
Worse?
I'll be really interested in QQQ at $209.42 a 31% drop from it's high.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
It's looked like A/B/C down/up/down repeat for a bit with an overall trend down towards the bottom of a channel line (black dotted headed up), going back to 2009
$273 will be a REALLY INTERESTING number if we drop a bit more. Not sure how interested I'll be at $273.
Bounce? and stay in the 11 year long up trend channel? or plunge past?
Normal 8 year / 33% correction cycle?
Worse?
I'll be really interested in QQQ at $209.42 a 31% drop from it's high.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Note
Broke way below close, as if the close of business didn't count and it followed the bear line down. Already below the $273 markBounce back to the down trend line drawn, now following it down.
Still moving sideways and down.
$238 soon?
Note
Still sideways and down dang it. Would love to see a clearer direction.Touched 5 day low, but bounced off. Still below the 2019 trend we broke past.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.