QQQ Breakout on Diminishing Volume
QQQ has been strong. Pretty sure this is another Bear Market Rally.
We broke up over the 100WeekMA. Volume has been declining just as rapidly.
Looks somewhat similar in that regard to the August 2022 Bear Market Rally, right before we started dropping towards the Oct 2022 lows.
Weak volume combined with extremely meh macro fundamental conditions leave me incredibly unconvinced of the potential staying power of this rally.
We broke up over the 100WeekMA. Volume has been declining just as rapidly.
Looks somewhat similar in that regard to the August 2022 Bear Market Rally, right before we started dropping towards the Oct 2022 lows.
Weak volume combined with extremely meh macro fundamental conditions leave me incredibly unconvinced of the potential staying power of this rally.
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