Short

The QQQ is in a 17 Year Bearish Harmonic Reversal Zone

We are approaching the definitive range for a bearish alternate bat harmonic pattern that is also complimented by an RSI BAMM signal and AO Divergence. This gives us a nice potential reversal zone around 134 for the QQQ. There may be a small amount of uptrend left in this because it is only at 129.29 currently, so I am going to wait until the harmonic PRZ is tested before going short, but it is a good idea to keep an eye on this pattern (and similar harmonics on the DOW) to see if they end up producing a valid reversal. Also if this pattern ends up being violated (ie. the resistance zone becomes support), then it will be a good idea to go long and continue to ride out the predominate bullish trend. Right now, though, there is a lot of resistance to a continued bull run in the stock market, both technically and fundamentally. It will definitely be interesting to see how this plays out, the stock market is in one of the most critical periods in history, ever. If we're unable to break this resistance we could see a significant recession or depression within the next few years, however, if we do break through this resistance then we could see one of the most powerful advances the stock market has ever seen.

Check these related charts for more technical and fundamental analysis:

The DOW is in a 10 Year Harmonic Reversal Zone

Is Another Financial Crisis Coming to the United States?

Intuit

⚠️LIKE AND FOLLOW⚠️

DON'T MISS TRON MEME SEASON, CATCH $FEELS BEFORE IT DOES ANOTHER 130x BY GOING TO HTTPS://TRONDOOMER.COM AND FOLLOWING THE LINK TO SUNPUMP

$FEELS CONTRACT ADDRESS: TPB97rf5YTuFGBBSGLS1umVzrSvVPHrQ7p

Also on:

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.