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 graduated from Boston University in May of 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.
Outside of stock trading/investing, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game.
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