QQQ possible inverse head and shoulders on the daily
The $QQQ is triggering a long setup on the right shoulder of a possible inverse head and shoulders.
A (conservative) measured move of the head to the neck, from the lower right shoulder, gives a target of $302.40.
The FOMC meeting is on Wed 11/02.
News on 10/27: "Economists at BlackRock are speaking with financial advisers, saying that they are expecting "pivot language" at the next Federal Open Market Committee (FOMC) meeting".
If these rumors prove true at the FOMC meeting, the market and QQQ could have the catalyst to reach the target (quickly).
This idea is only based on the charts, but the FOMC could provide a catalyst.
A (conservative) measured move of the head to the neck, from the lower right shoulder, gives a target of $302.40.
The FOMC meeting is on Wed 11/02.
News on 10/27: "Economists at BlackRock are speaking with financial advisers, saying that they are expecting "pivot language" at the next Federal Open Market Committee (FOMC) meeting".
If these rumors prove true at the FOMC meeting, the market and QQQ could have the catalyst to reach the target (quickly).
This idea is only based on the charts, but the FOMC could provide a catalyst.
Trade closed: stop reached:
Trade invalidated.
Has now broken below the 'right shoulder'.
The rumors of FOMC hike softening were just rumors, and they sold it.
Has now broken below the 'right shoulder'.
The rumors of FOMC hike softening were just rumors, and they sold it.