7/27/2019 QQQ and SPY reach new highs while DIA struggles. Weekly RSI divergences point to lower prices ahead.

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Hi everyone. Lots of earnings from the big tech companies are over. I still think we are near or at a local top because of the weekly RSI divergences. However, it does look like the uptrend is intact, so I do expect to see new highs after we pull back. 

QQQ weekly 7_28_2019

Notice how the weekly RSI is at about 65 at this new high when the previous weekly RSI high was at 70. 

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Published by bigfry

Hi, I’m Nathan. I’m currently a Junior at Boston University majoring in Finance and minoring in Piano Performance. I’ve always found the financial markets fascinating so I decided to start this blog to share my experiences with you. Outside of school and trading stocks, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game. This blog will be dedicated to sharing my trading experience, what I learned from the books I’ve read, and commentary on the major indexes and other stocks.

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