QQQ Reversal Pattern

7 thg 5, 2020

With the recent market rally over the last month or so, things seem to be lining up for a reversal and continue of the bear market from this world pandemic. We have a deep retracement up to the 786 fibonacci level. On this level, we have a rising wedge in an upward move, hinting at momentum slowing, consolidation increasing, and a reversal potentially coming. Fundamentals around the world are some of the worse we've seen in decades, or in some cases, EVER. Keep an eye out for a sharp reversal for potential sell-offs across the board.