March 3, 2021, 12:17 pm EST
Head-and-Shoulder Pattern – (QQQ)
Watch out classic head-and-shoulders pattern is formed for Nasdaq100 (QQQ). The neckline is 312. Nasdaq index pattern is very similar with neckline 13000.
Although Dow Jones and S&P 500 are stronger than Nasdaq, the breakdown of Nasdaq could drag major indexes into water. Pay attention if the necklines (QQQ-312, Nasdaq-13000) are broken with high volume. It could be the signal of major sell-off and downtrend.
