Nasdaq 100 Index
Broad Markets As I've already posted extensive analysis on the equity markets as well as various commodities, sectors & precious metals over the past week I figured that I'd keep it simple & share what I'm most focused on with the stock market at this time. At the risk of over-simplifying something that is quite [...]
Analysis of QQQ & the market leading FAAMG stocks (FB, AMZN, AAPL, MSFT & GOOG) with key support & resistance levels with a relatively quick (~14 minute) video:
QQQ is starting to resemble a Head & Shoulders topping pattern on the 120 minute time frame. The symmetry on the shoulders isn't ideal but the up-sloping neckline is perfectly normal as is two shoulders following the head vs. just one. QQQ 120-minute June 20th Volume patterns, something that I believe many traders [...]
Analysis of the US stock market, various key sectors including gold & GDX.
On the daily time frame, QQQ is close to backtesting minor uptrend line from below. A failure to regain the trendline will likely see prices fall to at least the 132.90 area. 60-minute trend indicators remain clearly bearish at this time although the bear flag breakdown fell well shy of the measured target with QQQ [...]
Following a gap down today, QQQ reversed right at Monday's reaction low, which was support. A break below that level (~137.45ish) in the coming sessions would likely spark the next wave of impulsive selling while there is still plenty of work to do on the upside to undo Friday's bearish technical developments. 60-minute chart: [...]
QQQ (Nasdaq 100 tracking ETF) has made an impulsive breakdown below the bear flag pattern that was posted early today on the first 60-minute chart below. Bear flags are continuation patterns with essentially 3 waves: The first wave down is marked by very impulsive selling on a marked increase in volume. After the security becomes [...]