QQQ
There’s a potential double top on the QQQ daily. It also happens to be the neckline of an inverse H&S (ditto semis, SMH).
It wants to breakout but VOLUME is weak. Can Q breakout when volume is that weak? In September, October and March, the low volume was followed by roughly 10+ days of pullbacks. 5ma VOLUME is still barely above the zero line, so it’s on the “cusp”...
NOT SHOWN:
QQQ’s momentum is overbought
The internet, XLC, brokeout already and is backtesting the breakout
At the moment, the $NYFANGS are being too influenced by BIDU, BABA, and TSLA, and it's lagging