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QQQ is now in a weekly BWR down-trend. All shorter term averages (red lines) are declining below the longer term averages (blue lines) with a white space separating them. Note the prior BWR up-trend pattern that lasted from May 2020 until January 2022.

The last time there was such a weekly BWR down-trend was in 2008. See how it ended. The white space disappears and the red and blue lines overlap. You don’t have to get in at the bottom. One strategy is to wait for the BWR pattern to end and really go in when the next RWB up-trend pattern begins. Another is to wait for the weekly closes (dotted line) to rise above all of the red lines and lead them higher. In a down-trend the weekly closes are leading all of the red lines down.

I have recently discovered  a Youtube site (The Restless Page) that my late co-instructor, David, built that shows you how to add some of my indicators and create Guppy charts etc. using TC2000. I have used TC2000 for over 20 years and it is easy to use,  because I can!  I hope you enjoy them. Here is a weekly Guppy chart of QQQ showing it has entered a BWR down-trend (all short term averages , red lines, are declining below longer term averages, blue lines, with a white space separating them).

Here is ARKK, which is in much worse technical shape.

Since I called the first day of the QQQ short term down-trend on January 6, the 3x inverse bearish QQQ ETF, SQQQ, has advanced +27%. SQQQ has  advanced more than all but 5 of the 350 stocks in my recent IBD/MS watchlist, and all but one of the Nasdaq 100 stocks (ATVI) and the S&P500 stocks (ATVI again). I wish I had had the courage to hold SQQQ all of this time.