QQQ after the major pump, and breaking out of the channel returned here and formed doji, as same as the whole market is not sure what is going on after Friday's data. Will this be a healthy bull pull back or this madness move after the bad financial report was just a pure bear's capitulation and we are ready for a new leg down, time will tell. With a sell signal from our Daily morning brief we are still underwater, but will stay till today reaction on Powell will be seen.
Volume was very weak, as there is no buyers or seller at the moment, as the market is lost. It is still overextended to the upside as it is way above 8 and other MA, which indicates it's way overbought and needs to cool down. RSI is in overbought territory same as MACD.
Overall: will we see just a consolidation of the price at this level, creating a nice bull pullback or leg is over and was over on the epic way? A lot of people are very bullish on market and that could still move QQQ up. However, RSI and MACD indicate there is no momentum anymore, the strongest momentum was in last week and it is hard to get it again. Powel and Debt ceiling communication will be that momentum on one side or another.
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Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.