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

Category1 1 Minute

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. 

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.

Published

Leave a Reply

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

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com 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 )

Cancel

Connecting to %s