Get started
CinnamonRazzleDazzle

QQQ - Pretty solid H&S on the 15 minute

Short
Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)  
CinnamonRazzleDazzle Updated   
NASDAQ:QQQ   Invesco QQQ Trust, Series 1
Trend Analysis Head and Shoulders
1
0
trendanalysis headandshoulders
Potential end to the run up from Feb. 28. It's the 15 minute chart so it could just be noise but it's a pretty solid H&S forming. Activity over today (3/3/20) will close out the second shoulder and could lead into an afternoon and/or overnight bear move. I'll be looking at the Fib retracement levels for next support. Full retracement could see QQQ dip back below $200. Failure of the Fed rate cut to stabilize the markets as well as increasingly gloomy COVID-19 news supports the bear move.
Comment:
Update: If the second shoulder doesn't start to close in the next hour or so, then I may have been wrong.
Comment:
Update: H&S broken. 15 minute chart was just noise. Looking at the 1 hour, the second shoulder of a reverse H&S just closed. Glad I didn't trade on my garbage first analysis.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.