QQQ Daily Chart: the likelihood for red continuation is significant
$Invesco QQQ(QQQ)$ Since the 5DMA was lost, the likelihood for red continuation is significant.
✅Potential morning star validated by volume? Yes
⚠️But there is also a new bearish Stochastic crossover that suggests that the decline just started, no mention the RSI analysis posted yesterday: The highest in many years.
$NASDAQ(.IXIC)$ $NASDAQ 100(NDX)$ $ProShares UltraPro Short QQQ(SQQQ)$ $E-mini Nasdaq 100 - main 2409(NQmain)$ $iShares Russell 2000 ETF(IWM)$ $Technology Select Sector SPDR Fund(XLK)$
Seasonality favors a decline next week, and it should be welcomed by bulls, so July can move up as usual with better technicals.
Overbought... no problem, it has happened to me a couple for times.
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https://x.com/SmartReversals/status/1804277566985113738
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