July 14, 2020, 9:15 am EDT
QQQ Major Warning Signal
Yesterday action may serve as a major warning signal for potential reversal. Specifically, it is visible from QQQ or Nasdaq100 ETF where the engulfing pattern appeared at high volume. It could be the final top for months to come.
Although it takes time to prove whether it is correct or not, market participants should keep this in mind. Reducing portfolio holdings, taking profits or cutting losses are reasonable actions to take at this junction.