QQQ daily looks scary now
Don't need to say anything about this week for the NASDAQ -- damage has been done.
But look at the McClellan Oscillator for the NAS it broke down tp -70 area and is making a lower low. This does resemble last year's same time frame.
Also, this time the MO is making a lower low than the Sept and Nov 2020 dip of the indicator. Technically it is a bearish divergence for the MO. (will include this indicator in the nextpost)
With all the QE and stimulus overarching this time might be different than last year? we will see in the next couple of weeks.
Be cautious since the market is telling us something in the chart...need to pay attention!
good luck trading.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
But look at the McClellan Oscillator for the NAS it broke down tp -70 area and is making a lower low. This does resemble last year's same time frame.
Also, this time the MO is making a lower low than the Sept and Nov 2020 dip of the indicator. Technically it is a bearish divergence for the MO. (will include this indicator in the nextpost)
With all the QE and stimulus overarching this time might be different than last year? we will see in the next couple of weeks.
Be cautious since the market is telling us something in the chart...need to pay attention!
good luck trading.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Disclaimer
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