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. 

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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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