Stock Chart: SideWay Consolidation

September 15, 2020, 4:00 pm EDT

SideWay Consolidation

After high volume reversal and low volume rebound, stock markets are going sideway consolidation. Using Nasdaq100 QQQ, we can see the range for upper bound and lower bound are about 283 and 268, respectively. 

It means that new actions will be triggered when these levels are taken out, either up or down. 

Apple, Tesla, semiconductor, and social internet stocks up and down in wide margin so it is unpredictable for its direction. But notice industrial, material and defenses are steadily climbing out of consolidation so these sectors and industries are still worth of attention. 

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