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.

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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