QQQ Downtrend Continues, Watch for FOMC Impact
$Invesco QQQ(QQQ)$ - Daily Chart:
The downtrend has repelled price, while the Stochastic indicator and the price action of the past three days suggest exhaustion.
Compared to the previous $S&P 500(.SPX)$ chart, the technology sector appears less healthy. This is not only due to the lack of new all-time highs but also because of its proximity to the 50- and 20-day moving averages.
Price action should quickly move towards volume shelves A or C after #FOMC decision.
Image
https://x.com/SmartReversals/status/1836140790268977460
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
