QQQ Bounces, Eyes 20DMA After Bearish Candle
$Invesco QQQ(QQQ)$ - Daily Chart:
As expected on Thursday afternoon, the bearish engulfing candle was followed by a technical bounce.
Not as $S&P 500(.SPX)$ , the tech index $NASDAQ 100(NDX)$ bounced without printing a higher high.
Since MACD bearish crossovers and RSI above 70 are warnings that were used in the old trading times, we can expect some consistency with the Bollinger high rejection or bearish engulfing candle and previous occurrences that sent price at least to 20DMA.
The pattern is not in a straight line.
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https://x.com/SmartReversals/status/1812507546646642906
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- Barcode·07-16👌👌LikeReport