π¨ $QQQ WEEKLY WARNING β 3 BLACK CROWS COMING??? π¦ββ¬π¦ββ¬π¦ββ¬$QQQ just did something I donβt love heading into the weekeβ¦
π¨ $QQQ WEEKLY WARNING β 3 BLACK CROWS COMING??? π¦ββ¬π¦ββ¬π¦ββ¬
$QQQ just did something I donβt love heading into the weekend:Weekly 21 EMA: ~$711Weekly Close: ~$705π΄ QQQ CLOSED BELOW THE WEEKLY 21 EMA.A quick tag below the 21 EMA is one thing.Closing the week below it is different.And now we have:π¦ββ¬ Crow #1: Down weekπ¦ββ¬ Crow #2: Another down weekπ¦ββ¬ Crow #3: Flying in next weekβ¦?We are now 2 straight weeks down, and another decisive red weekly candle could start looking a whole lot like the classic Three Black Crows bearish reversal setup.But hereβs what Iβm REALLY watching:π― THE IDEAL RESETA post-FOMC flush toward the weekly 50 SMA β roughly $665 β would be much more interesting to me than chasing downside here.$700 is the FLOOR TO DEFEND!Why?That would bring $QQQ much closer to the equity-vs-bond parity zone weβve been tracking as Treasury yields have risen.In other words:Stocks pull back β earnings yield improves β valuation becomes more competitive with bonds.Thatβs the reset.π₯ NEXT WEEK'S BATTLEReclaim $711: Bulls begin repairing the chart.Stay below $711: Weekly pressure remains.Another heavy red week: π¦ββ¬π¦ββ¬π¦ββ¬Three Black Crows enters the conversation.Flush toward ~$$675 - 665: Painful short term β but potentially the healthier valuation reset we've been waiting for.The first two crows are already sitting on the fence.Does the third one land after FOMC? ππ¦ββ¬πΏ πΏπΏπΏ
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