Americans have lived beyond their means for far too long and the FED has been there every step of the way inflating our dollar and asset prices. It's time for the air to come out. This will be painful, but necessary to restart on a solid foundation.
Monthly Chart :
The price broke down the MUT (Major Upper Trendline) what lasted for 10 YEARS :
Moreover, The Price found Resistance on that MUT, and on the old Resistance Area between 186-192.
Note the Weekly Chat :
When you move into...
Better than SPY and other majors stocks . holds far away from 2018 bottom . Doji candles suggest to pullback to close the gap at 170 on coming days then start new uptrend wave . if break the recent bottom then this idea is canceled . it could take 3-4 months
I believe the Stock Market as a whole has started a Recovery. If QQQ/Nasdaq can keep from dropping below the Uptrend Support,I believe it (as well as the other Indexes and most major Stocks) will be well on the way to approaching the prior peak no later than Fall 2020.
I am not certified or licensed by any individual or institution to give financial advice.
One of the biggest questions after a correction like we just had is: What to buy on the rebound? Lots of stocks are trying to bounce, but which are more likely to perform the best?
Longer-term charts can help answer the question. Let’s compare two very different corners of the market: The Nasdaq-100 (QQQ) and the Russell 2000 (IWM).
QQQ barely hit a new 52-week...
In this video tutorial, we quickly show you how the Bars Pattern tool works and why it's important. You can use the Bars Pattern tool to copy, duplicate, and measure specific trading ranges or trading bars.
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Currently backtesting resistance on the weekly chart. A rejection of this level could send us way down. Fundamentals aren't likely to improve for a few weeks which could prevent buyers from stepping in, and force sellers to continue selling due to margin calls and leverage.