This is the monthly chart for QQQ, using log scale.
H&S pattern in the RSI seems to precede market volatility. It happened in 2016 and 2018.
It seems like another head & shoulders pattern could be forming this year.
We're already showing signs of a bearish divergence between monthly price and monthly RSI, so it's possible the RSI makes a lower high to form the right shoulder of a H&S.
Going by history, we should expect a downturn shortly after the H&S pattern is formed. This is not a prediction, I'm just saying what might happen if history repeats.
H&S pattern in the RSI seems to precede market volatility. It happened in 2016 and 2018.
It seems like another head & shoulders pattern could be forming this year.
We're already showing signs of a bearish divergence between monthly price and monthly RSI, so it's possible the RSI makes a lower high to form the right shoulder of a H&S.
Going by history, we should expect a downturn shortly after the H&S pattern is formed. This is not a prediction, I'm just saying what might happen if history repeats.
Nota
I called this one pretty well
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.