QQQ possible wolfe wave reversal (strong)
A strong reversal is possible for QQQ. As we all know these companies enjoy very high PEs and in some cases they are just loss producing entities. The reason they are alive and thriving is the "bigger fool theory". But even a mild recession can start a domino effect.
I believe what we have here are classic makings of a wolfe wave reversal pattern. Since (4) double tapped, so I can't say with certainty if QQQ will goto 90 or 50, but either of them is possible by June 2017.
I believe what we have here are classic makings of a wolfe wave reversal pattern. Since (4) double tapped, so I can't say with certainty if QQQ will goto 90 or 50, but either of them is possible by June 2017.
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.