QQQ Reversal Pattern
With the recent market rally over the last month or so, things seem to be lining up for a reversal and continue of the bear market from this world pandemic. We have a deep retracement up to the 786 fibonacci level. On this level, we have a rising wedge in an upward move, hinting at momentum slowing, consolidation increasing, and a reversal potentially coming. Fundamentals around the world are some of the worse we've seen in decades, or in some cases, EVER. Keep an eye out for a sharp reversal for potential sell-offs across the board.
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.