Major Breakdown And Distribution

Nasdaq 100 (QQQ) shows highly alert pattern from both price and volume behaviors.

Gap-down breakdown cut through both 20 and 50 DMA in two days. The third day (today) came with similar outstanding volume patterns without any rebound.

Also, lack of support until 195 or 200 DMA is another red flag for near term crash alert. Watch out and prepare for strong sell-offs.

Share This Post
Have your say!

Leave a Reply