SPX vs QQQ Bucking the Trend
I noticed that QQQ is a full 25% above it's MA and a full 5% above it's EMA. The RSI on QQQ is also above to take it's turn. These things combined in the past year almost always lead to a fall back to the EMA and being 25% above the 200 day is something that really peaks my interest as that's a multi-year record. I've been slowly getting my short positions into SPX, but seeing all this it seems to me that the time may finally be here to short the beast, QQQ. Thoughts?
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.