QQQ has Bearish Bias ? Santa Claus Rally this year ?
AS shown on the chart, the recent head and shoulders pattern, the immediate double top as
well as the Point of Control black line on the volume profile all form heavy resistance to any
uptrend. The RSI has dropped below 50. All in all, a bearish bias.
I will trade this with put options with a strike of $286 with two days of expiration time.
well as the Point of Control black line on the volume profile all form heavy resistance to any
uptrend. The RSI has dropped below 50. All in all, a bearish bias.
I will trade this with put options with a strike of $286 with two days of expiration time.
Trade active:
QQQ fell consistent with the analysis- bearish sentiment confirmed. Put options
ran 58% so one cashed out leaving three runners.
ran 58% so one cashed out leaving three runners.