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Home » Unlabelled » QQQ Nasdaq ETF Daily Chart H&S Patterns Gaps

QQQ Nasdaq ETF Daily Chart H&S Patterns Gaps

The Nasdaq and QQQ's lost their 50-day MA yesterday. This action confirms that AAPL is driving the bus and is the leader with the major indexes following. Apple ruptured its 50-day MA on Friday.  The red lines for the indicators paint a weak and bleak picture for price moving forward. Extrapolate the same thoughts from the previously posted AAPL daily chart to this chart. The QQQ's have a smaller H&S in play shown by the red lines which targets 65.5.  The blue H&S targets 63-ish if the neckline, exactly where price closed yesterday at 67-ish, fails. The neon green circles show the swiss cheese gaps that will need to be filled in the future. The H&S target levels both correspond to gap fills. Look at yesterday's volume, sell first ask questions later. Projection is for lower prices moving forward. Price failing 67-ish is very bearish and places the 63-ish target in play.  Look for a potential back kiss of the 50-day MA and red neckline at 68-ish.
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