Short Thesis - QQQ Ascending Wedge Break & Retest

Theo AdvancedPlays
QQQ had a major uptrend break to the downside in April, which led to a sharp correction. However, the downside was short lived and QQQ eventually recovered and just made another new all time high. This is very similar to the SPY wedge I shared, QQQ had a double top and rejected on a retest of the previous uptrend. It has been in another ascending pattern during the bounce which it'll need to break below as well for further downside. I expect this will happen soon.
Chart PatternsTrend Analysis
AdvancedPlays
Short Thesis:
advancedplays.com/short-thesis.pdf

Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!

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