$QQQ head and shoulders top unlikely–wall of worry back


This weekly chart shows that QQQ is now above the resistance line from the possible head and shoulders top pattern. The next test is the old all-time high, around 187. I am tiptoeing back into the market in my university pension accounts. The steep December decline dissipated the bullish euphoria and brought fear back into investors’ minds. A lot of people saw for the first time that the market can decline quickly and mercilessly. The market always climbs a wall of worry and “the wall” is back.  And the GMI remains on a Green signal.

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