9/2/2019 Stocks bounce for the week, but indexes look like they are in a trading range and are bound to move lower in the next week. Still bearish short and mid term.

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Hi everyone, I hope you have a great Labor day and are enjoying your weekend!

QQQ Daily 9_2_2019.jpg

Here’s QQQ on the daily chart. Notice how the index has faced resistance at the top line multiple times now. I suspect QQQ along with the other major indexes move towards the bottom of this trading range in this upcoming week. For QQQ, that corresponds to the 180-182 range. DIA and SPY (the other two major indexes) look a little stronger, but are bouncing off the top of their trading range on the daily chart as well. 

Published by bigfry

Hi, I’m Nathan. I graduated from Boston University in 2020. I majored in Finance and minored 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 stock trading/investing, I enjoy teaching and playing piano, teaching and playing Go, fishing, watching anime, and playing poker (NL Texas Hold 'em).

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