Invesco QQQ Trust Series I

Potential Harmonic Bearish Butterfly Could Push QQQ to $525+

354
Here I have Invesco Trust QQQ on the Daily Chart!

Invesco Trust QQQ follows the NASDAQ 100 Index which is Tech-Industry Heavy.

Price currently is struggling at ( $485 - $486 ), the 78.6% Fibonacci Level responsible for giving us our B point in what appears to be a potential Bearish Harmonic Butterfly Pattern!

Harmonic Butterfly
X - B = .786
A - C = .382 - .886
B - D = 1.618 - 2.24
X - D = 1.272 - 1.618

If Price is able to break through this Level, then by the Harmonic Butterfly Parameters, we could see the CD Leg extend to the 1.272 - 1.618 Fibonacci Levels @ ( $525.30 - $553! )

Fundamentals:
* Feds have already began their Easing Cycle with the more then expected aggressive 50 bps cut to Interest Rates. With more cuts already planned in the foreseeable future, this will begin to help the economy bounce back!

*Thursday, Sept. 26th: Final GDP, Unemployment Claims & Powell Speaking
Friday, Sept. 27th: Core PCE Index

Indicators:
- Price is trading Above the 200 EMA
- RSI Above 50
- Bullish Volume Building
노트
스냅샷

With the end of Last Week, we seen Price close up the Massive Gap it created on Thursday's Open!

-As for now we see Price has found some support at the B Point of what I believe to be a Bearish Butterfly

면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.