$QQQ Models Turn Bearish as Monthly BX Flips Red

PeterDiCarlo
03-12

Both my models are bearish on $Invesco QQQ(QQQ)$ 🔴

Monthly BX is now red, which is the first‑principles signal for these models.

Trend is still trying to hold, but it’s fighting a massive volume block on the THT volume profile with a big air pocket sitting right below it.

I want the market to push to new all‑time highs as much as anyone, but being objective my base case here is a rejection in the next week and a multi‑week to multi‑month selloff.

Best case I see a move toward 560, but more realistically I’m eyeing 540 as the magnet.

As I said yestorday:

Heading into tomorrow’s inflation data and this still looks like a trap on $QQQ.

Monthly BX remains bearish. Most bounces from here have led to lower highs and more selling.

Price is also pushing into the Daily Bias, which is bearish right now.

In a downtrend, that level often acts as resistance.

I’m prepared for about 5% downside over the next 30 days.

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