QQQ new STAGE 1 or Stage 4 markdown coming?
Updated
Another study on market cycles!
Starting this study from COVID bottom, we look at the bigger cycle using the 200ma and the intermediate cycles with the 40ma.
Currently -
I see an intermediate stage 1 base which is both a diamond and range box breakout. stage 2 identified with a 40ma cross.
Downward broadening channel break with another upward extended broadening thats being corrected right now putting it back under the channel.
Now we have to see if this marks a small intermediate top (consolidation) of a stage 3 going downtrend into stage 4 or not. Watch the 40ma!
Big picture STAGE 1? Still under that 200ma, it barely crossed so it would take a big move up if that were to happen. If it crosses we could assume the big diamond bottom and range box could have been a new STAGE 1.
or
If the intermediate stage 4 markdown forms from here...
Higher low/ double bottom/or lower low to previous stage 1
will show if this will be a much wider stage 1 base or still in an extended stage 4 markdown under the 40ma and 200ma.
Starting this study from COVID bottom, we look at the bigger cycle using the 200ma and the intermediate cycles with the 40ma.
Currently -
I see an intermediate stage 1 base which is both a diamond and range box breakout. stage 2 identified with a 40ma cross.
Downward broadening channel break with another upward extended broadening thats being corrected right now putting it back under the channel.
Now we have to see if this marks a small intermediate top (consolidation) of a stage 3 going downtrend into stage 4 or not. Watch the 40ma!
Big picture STAGE 1? Still under that 200ma, it barely crossed so it would take a big move up if that were to happen. If it crosses we could assume the big diamond bottom and range box could have been a new STAGE 1.
or
If the intermediate stage 4 markdown forms from here...
Higher low/ double bottom/or lower low to previous stage 1
will show if this will be a much wider stage 1 base or still in an extended stage 4 markdown under the 40ma and 200ma.
Comment
40ma reaction watch. Could take a few days for confirmation but important to see if momentum shifts. 
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