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Invesco QQQ Trust, Series 1

$QQQ Wedging on the 65 Minute Chart (VCP)

191
QQQ is clearly in a wedging pattern. These types of patterns “usually” resolve in the direction of the larger trend. In this case that trend is still up.

This is a news driven market now so anything can happen. I have an alert set at both the top and bottom of the wedge lines. I do not plan to short this market, but should it break down, I may want to reduce my exposure. And if it breaks to the upside, I may add more exposure.

I am giving my observation of the market. Nothing more.
jaxdog
Also on:
Chart PatternsDIATechnical IndicatorsIWMQQQSPDR S&P 500 ETF (SPY) Trend Analysis

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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.
Chart PatternsDIATechnical IndicatorsIWMQQQSPDR S&P 500 ETF (SPY) Trend Analysis
jaxdog
Also on:

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.