Bears Intensify... $QQQ - Pullback LikelyBears Intensify... NASDAQ:QQQ
🐻 Falling Wedge Breakdown
🐻 Hammer Candle
🐻 Bearish Wr%
🐻 H5 Flow Increasing
Qqqanalysis
NVDA reclaimed the daily 50 SMA along with QQQ.NASDAQ:NVDA broke out of a wedge consolidation at $109 earlier this week and has closed above the daily 50 SMA, along with NASDAQ:QQQ and many other technology leaders. There has been a shift in market tone since the jobs report last Thursday, 8/8. Since then, all data points have been bought by the bulls, and QQQ reclaimed the daily 10 SMA, giving signs that the bull-thesis was valid. The longer QQQ and other major technology names build above the daily 50 SMA, the more likely they are to continue higher.
Nasdaq 100 ETF (QQQ) ~ December 4H SwingNASDAQ:QQQ chart analysis/mapping.
QQQ ETF in consolidation phase after strong November rally.
Trading scenarios:
Further consolidation = descending trend-line (light blue) / multiple EMA confluence zone.
Continuation rally #1 = top range of Fib / ascending trend-line (green) confluence zone.
Shallow pullback #1 = 78.6% Fib / 200MA confluence zone.
Shallow pullback #2 = descending trend-line (white dotted)\
Deeper pullback #1 = gap fill / ascending trend-line (green) / Golden Pocket confluence zone.
Capitulation #1 = 50% Fib
Capitulation #2 = 38.2% Fib / gap fill / ascending trend-line (light blue) confluence zone.
Capitulation #3 = 23.6% Fib
Is QQQ Preparing To New All-time High???Technical Analysis:
- There is very possible once AAPL and MSFT as a bullish structure in weekly timeframe
- H1 right side is turning down
- H4 right side is up
Technical Information:
- Don't sell QQQ and you can buy in next days around 360
