The Cubes (NASDAQ: QQQQ): 11:30 AM NYC time, October 17th: Just a quick post to note the “2” of a potential “1, 2, 3 reversal.” The “1” came last Thursday, when the Cubes — and multiple stock-market indexes — posted bearish engulfing candle on huge volume. The “2” could be today (the “2” is a failed attempt to make a new high). And the “3” — reversal confirmation — would be a…
…close below last Thursday’s low of $52.28. Not saying any of this IS going to happen, it’s just something to watch for after a big rally off of the August lows. It should also be noted that the aforementioned rally has taken the S&P 500 back up to it’s July highs. Cheers!
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