QQQ Bearish MACD Crossovers and Pullbacks
$Invesco QQQ(QQQ)$ Bearish MACD Crossovers and Pullbacks:
During the last 12 months, this signal has been linked to declines averaging -7%, with three occurrences averaging -15%. There is no doubt the 200DMA will be tested, and the gap will be filled, which would mean a -6% drop from the recent top.
Will it hold?
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The weekly chart suggests the move has just begun, considering the reversal candle and the divergence with the Money Flow Index. The gap in candles and volume shelves (red arrow) may act as a strong magnet.
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