SPY continues to pinch higher within this 60-minute bearish rising wedge pattern with a sell signal to come on a solid break and/or 60-minute close below.
SPY 60m Dec 9th
QQQ recently broke down & backtested the 60-minute uptrend line on although I’m still awaiting a breakdown of the comparable uptrend line on the SPY 60-minute chart to confirm a sell signal on the major stock indices, including QQQ. The marked horizontal lines are potential downside targets, should we get a confirmed sell signal soon, which appears likely.
QQQ 60m Dec 9th
GLD (gold ETF) has reversed after hitting the downtrend line, down about 1 1/2% so far today. Previous (yesterday’s) and today’s updated daily charts below.
GLD daily Dec 8th
GLD daily Dec 9th