Here’s a quick look at the 60-minute charts of QQQ & the top five components that account for the bulk of the returns of that index. A sell signal on is still pending a break below this uptrend line with the two potential near-term pullback targets shown below, should we get a confirmed sell signal soon.
QQQ 60m May 29th
AAPL has backtested the trendline following the recent breakdown which means the sell signal still intact for now but questionable until and unless QQQ & the remaining FAAMGs also breakdown. A break below the 312 minor support level would also increase the odds that the breakdown will stick.
AAPL 60m May 29th
MSFT is currently backtesting the trendline following the recent breakdown which means the sell signal still intact for now but questionable until/unless QQQ & the remaining FAAMGs also breakdown.
MSFT 60m May 29th
A sell signal on AMZN is still pending on a break below 2280 although keep in mind the recent bearish developments that were highlighted on the daily time frame earlier this week (bearish engulfing candlestick & trendline breakdown followed by two confirming red candles).
AMZN 60m May 29th
GOOGL continues to flirt with the trendline with a sell signal still pending a solid break & 60-minute close below it.
GOOGL 60m May 29th
A sell signal on FB is still pending a break below this trendline.
FB 60m May 29th