prices have now broken below the uptrend line on the QQQ 60 minute chart. as this is an hourly chart, we need to see a candlestick close below, and preferably well below the uptrend line. this market has been plagued with false breakdowns or breakdowns followed by seemingly never-ending price re-tests from below. however, what makes this one different is that we now have every major broad index (NDX, SPX, RUT, COMPQ, etc…) trading below their primary 60 minute uptrend lines, which gives us about a clear a sell signal as we’ve had in months.
