4/21/2019 QQQ breaks to new all time highs while SPY stays flat. Looking like more upside next week, but watch out for the weekly RSI divergence.

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Hi everyone! Welcome back. 

Most indexes continue to rise, and I think we will go up next week as well. Something to watch out for is the weekly RSI divergences which hints that we are at a medium term high (weekly chart means more medium term). Logically, we have gone up a lot since December of 2018, and are due for a correction. However, markets don’t always move logically, otherwise we’d all be rich. 

I think we drift higher in the short term (a week or two), but I think we will close lower 8 weeks from now (end of June).  

Below is a chart of the QQQ with the weekly divergence highlighted. 

QQQ Weekly 4_21_2019.JPG

Published by bigfry

Hi, I’m Nathan. I majored in Finance and minored in Piano Performance at Boston University (graduated in 2020). Outside of trading/investing, I enjoy teaching and playing piano, teaching and playing Go, fishing, and watching anime. I also started my own Boba company while at BU, and am currently working on a company with my twin brother. I'm currently teaching Go full time, which has been the best job I could ever hope for.

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