5/18/2019 Stocks stay volatile and close lower for the week. This looks like a fake breakout to new highs and I suspect lower prices in the following few weeks.

Welcome back to my blog!

I was surprised by the violent upward swings this week, but the bears still won. We have confirmed the trend line break and have broken back below the 185-186 level – hinting at a false breakout. Because of the false breakout, I suspect selling will accelerate or speed up. In case I’m wrong, a stop loss near 188 would be a good idea if you are short. 

QQQ weekly 5_18_2019.JPG

Good luck, and see you next week like always 🙂

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s