$QQQ Double Gap
$Invesco QQQ(QQQ)$ Double Gap - A Must-Watch
Daily and a weekly gap at once, a significant development. Today's price action underscores the rapid movement between volume shelves. Unlike $iShares Russell 2000 ETF(IWM)$ discussed in my previous post, tech has managed to climb above its 20DMA. The Stochastic indicator suggests this move is beginning.
On the bearish side, acting solely on the gap and bearish candle could be premature (see circles). Instead, using $523 as a reference for (a tight) invalidation or $521.4 for a wider one offers a better risk assessment.
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$iShares Russell 2000 ETF(IWM)$ - The 20DMA x 50DMA Bearish Crossover is Proven its Worth, and today the 100DMA is trying to hold price for 13th day in a row.
20DMA or 100DMA, which one will be breached?
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- KSR·2025-01-08👍LikeReport