Todopoderoso
Short

QQQ rally should be over soon

NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
the ROC shows fading momentum Macd showing weakness. near resistance lines . i dont think this name will go above 237 since most of the names that makes up this index are severely overbought . i will be looking to short this name ONCE it falls below that GREEN trendline about ~225 could be higher if this rally gets extended for more days. if it continues to go up short this at 234. stop loss above 237 . Good luck

Comments

I am on the fence if the stocks are over-bought. They all have very strong balance sheets and cash flows. I'm seeing NVDA with a Quick Ratio of 9.7 and that seems fairly common with the Techs. They're all in good shape compared to laggards in the Dow.
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Todopoderoso luminaryfi
The rate they increase is not sustainable. Most of the tech stocks have a bearish divergence yet making new highs . These bubble should pop soon.
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Is there any particular reason you used Moving Averages on the 50 and 200 and a Exponential on the 40? I ran it with EMA10, EMA20 AND EMA50 and they are all in bullish order. Price Close > EMA10 > EMA 20 > EMA 50 that's a strong Bullish indicator. Also, fundamentals are strong with the Tech Heavy Weights in the Nasdaq.
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vmonaco240 luminaryfi
@luminaryfi, Also, the 50dma just crossed above the 200dma on the daily chart.
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