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Island Cluster Top Reversal On QQQ

Member @specie had mentioned the possibility of an Island Cluster Reversal in the trading room yesterday, which so far, with today's gap down in QQQ has proved to be the case. Should the Q's failed to backfill today's gap & then some, this fairly reliable topping/reversal pattern will likely have lasting bearish implications for the stock market.

QQQ Island Cluter Reversal April 1st

QQQ Island Cluter Reversal April 1st

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Apr 1, 2016 9:39am|Categories: Equity Market Analysis|Tags: , , |6 Comments

6 Comments

  1. Kstellish April 1, 2016 10:52 am at 10:52 am

    @rsotc I assume it’s where it closes that’s ultimately important but didn’t like to see that backfill of the gap. Unreal.

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  2. Franklin4 April 1, 2016 3:46 pm at 3:46 pm

    Well, that went south in the wrong direction. Bullish engulfing headed into the weekend and there goes my steak dinner.

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  3. Kstellish April 1, 2016 3:51 pm at 3:51 pm

    Yep. Anyone still holding shorts?

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  4. Art April 1, 2016 4:33 pm at 4:33 pm

    yes kstellish I am short the market.

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  5. GetItRiight April 1, 2016 5:03 pm at 5:03 pm

    Same here, via TVIX.

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  6. Kstellish April 1, 2016 5:21 pm at 5:21 pm

    Thanks. Just making sure I’m not crazy. Market seems to defy logic these days.

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