During the current upward swing of the market, i believe QQQ will break back through its 2 year trend line, indicating a bullish market, and a faster momentum upwards. But, because the SPY price action has fallen further than QQQ, I believe the momentum will subside before it is able to break the trend line, therefore when the price action retests the trend line it will fail indicating a bearish market.. This will cause SPY and then QQQ to fall. and the entire market to continue its downward swing... (apologies for my poor drawing skills)
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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.