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QQQ Price Channel

Published 05/03/2017, 01:06 AM
Updated 07/09/2023, 06:31 AM

QQQ Hourly

QQQ is Faltering in the Critical Decision Wave of its New Blue Price Channel

PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) has confirmed a price channel (blue on chart) on its latest little vertical move on the 60-minute chart, even with its April 24 gap up.

The price channel is now in its critical decision wave and faltering in the middle of the channel.

QQQ could form a top here (green scenario–an island top would be nice) or it could roll over into a less-steep channel and make it as far as the top of the red flat-bottomed megaphone.

QQQ Daily

QQQ is Back at the Top of its Big Red Rising Wedge

QQQ is also tagging the top of its big rising wedge on the daily chart. The rising wedge is part of a megaphone that needs a retrace at least to VWAP at roughly 100, near the rising wedge base.

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Latest comments

Are you predicting 40% correction in indices?
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