QQQ: Fast Vs. Slow Top

Published 07/13/2017, 11:08 AM
Updated 07/09/2023, 06:31 AM
QQQ
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PowerShares QQQ Trust

QQQ is at the Moment of Truth for its Green H&S Scenario

PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) is at the moment of truth for its potential head-and-shoulders top with triangle right shoulder. It appears to be reversing as I type this.

It could also put in a double-headed H&S or turn the entire move off the June 9th high into a larger triangle within a larger H&S top.

Sornette has announced a bubble crash set-up in FANG stocks. That means a roughly 60% chance of a 20%+ crash in those stocks that reaches its target within two weeks. The green scenario is a perfect set-up for that.

The other 40% of the time a market moves sideways for longer before a correction (purple scenario) or breaks out upwards from a smaller consolidation within an extended top like a rising wedge or rising megaphone before a larger correction.

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