QQQ Breakdown Validates RSI Warning
$Invesco QQQ(QQQ)$ : The bearish RSI divergence highlighted last weekend was proven to be a valid warning condition.
Thursday’s indecisive candle showed tech was just waiting for a catalyst. Subscribers already knew $602 was the key weekly level and were prepared for the imminent $Cboe Volatility Index(VIX)$ explosion.
The current bearish candle suggests continuation, but I note several oversold conditions worth watching in the Weekly Compass sent to over 26,000 people this morning.
Stock chart for QQQ daily timeframe displays price line in blue fluctuating from around 450 to 500 over months from March to November. Yellow 10-day moving average and blue 20-day moving average trend lines overlay the price. Green and red volume bars at bottom. RSI indicator below in purple line with oversold zones.
Stock chart for QQQ daily timeframe displays price line in blue fluctuating from around 450 to 500 over months from March to November. Yellow 10-day moving average and blue 20-day moving average trend lines overlay the price. Green and red volume bars at bottom. RSI indicator below in purple line with oversold zones. S/R watermark in white circle on right. Time axis labels months and price scale on left.
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