$QQQ Falling Out of Rising Wedge?
QQQ may be flashing a warning sign here. Rising Wedge Patterns often lead to a new down leg but not always. Looks like we have a breach to the downside on this wedge. Additionally, it looks like today’s candle is a Shooting Star. These too often are a sign of weakness. The good news is that it bounced off the 20 EMA (blue). If it loses the 20 EMA I will be looking for a short sale entry using 
SQQQ as a short, SQQQ is a 3 times short leveraged ETF. This is my personal observation that may or may not play out. I would rather the market head higher, but I am open to it heading lower too.
Ideas, not investing / trading advice.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.