The Nasdaq 100 Trust ETF is listed on the Nasdaq providing broad exposure to the technology sector by tracking the Nasdaq 100 Index. Current price action is consolidating into a Bull Flag formation. The Bull Flag is continuation pattern and usually a price objective can be derived by projecting the magnitude of the previous motive wave (i.e. Flagpole) using an a-b-c corrective measured move. Exit buy position on close below the 50-day moving average.
1 comment:
I agree, this movement might come and it will be big surprize for many if it happends. QQQQ made perfect fibonacci support movement on friday.
US dollar run up 6 % in one month time, which is best dollar rally for for 7 years. Many big size funds buys now US stocks as dollar offers extra leverage itself even stocks would stays without movement at all.
Enjoy your weekend.
Regards,
Market Geometry
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