As we can see, QQQ has been struggling with the 372 Level since March 2022, with a major test coming following this rally with the JOLTS data coming in lower than expected
Here's what we got playing out in our favor:
- 3 Day Golden Cross on our 50 / 200 MA indicator
- 3 Day Stochastic RSI Golden Cross
- Bullish Engulfing Candle about to close after the trading day
BUT, WATCH THE 3 DAY RSI FOR LOWER HIGHS
- * caution indicator * the RSI on our TDI Indicator (Yellow Circle) has made a lower high
HOWEVER, with a bullish engulfing candle, 3 day golden cross, & momentum returning into the Stochastic RSI. We remain LONG TERM BULLISH, however we must take into consideration the lower high on the RSI & the fact that September is historically a down month for stocks
So will watch the Qs &
SPY
carefully in the next 4 weeks
Here's what we got playing out in our favor:
- 3 Day Golden Cross on our 50 / 200 MA indicator
- 3 Day Stochastic RSI Golden Cross
- Bullish Engulfing Candle about to close after the trading day
BUT, WATCH THE 3 DAY RSI FOR LOWER HIGHS
- * caution indicator * the RSI on our TDI Indicator (Yellow Circle) has made a lower high
HOWEVER, with a bullish engulfing candle, 3 day golden cross, & momentum returning into the Stochastic RSI. We remain LONG TERM BULLISH, however we must take into consideration the lower high on the RSI & the fact that September is historically a down month for stocks
So will watch the Qs &
SPY
carefully in the next 4 weeks