Most sectors are now displaying clear negative divergences -
still no change in structure but many are looking tired.
Perhaps one more push to form an Ending Diagonal (QQQ).
Last week lows are now pivotal. We still have NVDA
reporting this week (Wednesday). Overall, there is
distribution unfolding up here (large operators selling).
Steve, hope you're feeling better, guessing you or Matt will
discuss the QQQ ending diagonal potential scenario in the Sunday
newsletter but if you can add an annotated chart here on the
trading community that'd be great. Enjoy the weekend.
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Most sectors are now displaying
Posted by steve on 17th of Feb 2024 at 11:55 am
Most sectors are now displaying clear negative divergences - still no change in structure but many are looking tired. Perhaps one more push to form an Ending Diagonal (QQQ). Last week lows are now pivotal. We still have NVDA reporting this week (Wednesday). Overall, there is distribution unfolding up here (large operators selling).
Steve, hope you're feeling better,
Posted by DK on 17th of Feb 2024 at 12:22 pm
Steve, hope you're feeling better, guessing you or Matt will discuss the QQQ ending diagonal potential scenario in the Sunday newsletter but if you can add an annotated chart here on the trading community that'd be great. Enjoy the weekend.