Monday, April 25, 2016 10:04:05 AM
So what am I looking at now as far as change in trend ?
1 bad divergence
2 Comments by ART HILL on leader QQQ
QQQ Forms Island Reversal
QQQ gapped down, filled the 13-April gap and negated the wedge breakout. Technically, the pattern since 13-April could be considered an island reversal. The gap down is short-term negative, but the overall trend is still up with key support marked in the 106.5-108 area. The indicator window shows the price relative falling the last two weeks and nearing the February low as QQQ underperforms SPY. Large-cap techs are not the place to be right now.
QQQ D live chart
3 IWM D is ok
4 IWM W is ok
1 bad divergence
2 Comments by ART HILL on leader QQQ
QQQ Forms Island Reversal
QQQ gapped down, filled the 13-April gap and negated the wedge breakout. Technically, the pattern since 13-April could be considered an island reversal. The gap down is short-term negative, but the overall trend is still up with key support marked in the 106.5-108 area. The indicator window shows the price relative falling the last two weeks and nearing the February low as QQQ underperforms SPY. Large-cap techs are not the place to be right now.
QQQ D live chart
3 IWM D is ok
4 IWM W is ok
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