The weekly chart for TLT shows a cup-and-handle formation. The handle has retraced exactly 1/3 the distance from the high to the low in three weeks. At this point, the retracement has encountered support from the 20sma.
I expect TLT will move upward in near term.
The weekly chart for QQQ indicates that we are currently seeing a Bullish Flag.
The flag pole formed with the October rally, beginning with the final two weeks of the month. The volume spike, indicated on the chart, confirms the consolidation phase of the pattern. This is followed by a decrease in volume as ...