9/14/2019 Stocks squeak out modest gains for the week and flirt with all time highs. Strong bearish divergences are building up on the weekly chart – especially for QQQ. I’m bearish again.
QQQ generally outperforms the market since technology stocks like Apple, Facebook, Microsoft and Amazon have been doing very well relative to the market. Thus, it is interesting when QQQ is significantly weaker than the Dow Jones and S&P500.
Here’s the weekly chart of QQQ. Notice the bearish divergences (same or higher highs, but lower RSI). I’ve circled the price level I think we are likely to retest.
Hi, I’m Nathan. I’m currently a senior 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 whatever I feel like.
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