QQQ has been on a rising wedge for over a year.
Looking only at technicals, a breakdown from the wedge could take us to the mid 200s (starting point of the wedge). That would represent a 30% drop, which would require some macroeconomic triggers (Evergrande? Any of the bubbles bursting?).
But, until the lower end of the wedge is broken, I´ll still be looking for LONG trade setups.
Looking only at technicals, a breakdown from the wedge could take us to the mid 200s (starting point of the wedge). That would represent a 30% drop, which would require some macroeconomic triggers (Evergrande? Any of the bubbles bursting?).
But, until the lower end of the wedge is broken, I´ll still be looking for LONG trade setups.
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