View: $QQQ hourly chart with head and shoulders pattern
$QQQ hourly chart with head and shoulders pattern
5 Technical Reasons Stocks May Soon Move Lower ($SPY, $DIA, $QQQ, $MDY, $IWM).
-Four “distribution days” on the Nasdaq
-Lack of increasing volume as the market has been rising
-Key short-term resistance levels being tested on the S&P and Dow ($SPY and $DIA)
-Head and Shoulders pattern on the Nasdaq 100 ($QQQ)
-Relative weakness in the small and mid-cap indexes ($IWM and $MDY)
In this article, we will explain each of the five reasons above in more detail…
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