Last week I was talking about the formation of a right shoulder that could confirm a bearish trend. During the week the QQQ went up and down showing some volatility, but ended up breaking up a triangle pattern as shown below. The Head and Shoulders formation is still there, but we need to be careful since we are not attempting to predict the market, but to follow it and catch up the correct wave. Last week ended up showing a short -term bullish signal. Lets see how it performs this week. We could position ourselves long if the next correction keeps above the triangle and a green candle offsets the last red candle. Very exiting!
