Sometimes when we look at the $QQQ chart, we can just see the amalgamation of the $AAPL and $MSFT chart, it is starting to look just like the $MSFT now, very similar setups.
The RSI and MACD are showing the same signs as the $MSFT too, starting to show downward movement after hitting the yellow trendline.
So What Now?
What we are looking for here is whether or not this pull back is Wave 4 or the start of a downtrend to Wave C in red. The formation pattern is still in a bearish flag, so again, a lot rests on the earnings reports and guidance from the heavy influential mega cap stocks.
Gareth Neary
2023-04-24 10:51:58 +0000 UTCI.A
2023-04-24 10:50:47 +0000 UTC