Invesco QQQ Trust Series I

Historical similarities between February and September

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Back in January/February QQQ was holding a similar regression channel going back to October 11th, 2019. The regression channel was 2.5 standard deviation instead of 3 standard deviation that we had for our covid rally so it wasn't quite as volatile. For distribution days, usually you would use the Index to count them, but since QQQ is so correlated with NAS100 and has some of the biggest companies in the market, i'm also counting distribution days on QQQ. We had 3 distribution days in QQQ by the time we broke the regression channel in February. On Tuesday we broke through the regression channel we've been holding since April 6th. We had 4 distribution days on QQQ when we broke through the regression channel on tuesday. Friday marked a 5th distribution day in QQQ. In February when QQQ broke through the regression channel we attempted to break back through the 21 day EMA multiple times yet we couldn't break above it! So far since our drop on September 3rd, we have tested the 21 day EMA twice and have not been able to break above it. Also another historical thought: there's only been 5 other times since 1999 (the furthest back tradingview has charts for qqq) QQQ has dropped more then 8% in 3 trading days from a 52 week high. Just like always this is not a prediction I am just looking at similarities and differences between historical markets

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