QQQ is overbought today.
today, the market and QQQ rallied strongly, briefly breaking above the descending trend channel. Now, QQQ's price is over the 2nd upper band of the VWAP, showing that it is overbought for the day, but volume is statistically low relative to the past days, producing an NDO score of less than 1 during this rally.
Therefore, I believe that this rally is superficial in nature, and will be shorting QQQ to profit off an anticipated decline.
Therefore, I believe that this rally is superficial in nature, and will be shorting QQQ to profit off an anticipated decline.
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