AAPL and QQQ across the board looks absolutely cooked. AAPL showing a weekly Demark TD9 sell, a massive RSI divergence, volume divergence, and the put/call ratio on the S&P is at levels that usually precede major pullbacks. AAPL still has some trendline support at $440, but below there it's gonna dump harder than Chris Farley after a supersized chipotle. I'd expect a sharp move down in the range of -10%+. See my linked analysis for my thoughts on QQQ bigger picture.
Note
I'm STILL BEARISH.Note
Date window didn't play out quite as I wanted - however we have a TD9 weekly on SPY and VIX coming in for the last week of August. I still expect markets to get hit hard.Note
Our date window for the last week of August mentioned above certainly hit! This chart was unfortunately a little early and wouldn't have been a great trade. It looks monstrous but that is only because of the split :p
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White Lake Investment
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.