The QQQ is on support of the line linking the lows. Oversold and 5 waves completed for (1) of C, would be due for a rebound for wave (2) of C. A break below the line linking the lows would probably mean extensions and further downside.
The Nasdaq100 (QQQ) seems to have completed its B wave and looking downward for a C wave towards its 200 week moving average near 257.
The inflation and rising rates environment is not good for tech stocks in general, the chart seems to suggest that this not an exception.
Many market analysts are saying that the crypto world is holding on the precious metal word. If you look at the ratio of Bitcoin/Silver, it seems due for another leg down that could bring the ratio back to the 500 area (ex: $20 000 Bitcoin/$40 Silver or $40 000/$80 ?).
I like Bitcoin and cryptos in general but I believe that the time has arrived for silver (and...
Barrick Gold has dropped a lot recently and could be due for a bounce soon. But the monthly chart of this stock doesn't look good at all. The most recent rise looks like a corrective rebound and eventually more downside coukd be in play.
Big money moving out of big cap gold stocks into Bitcoin ? It might be part of the explanation...