Several stock market indices and sectors are nearing important trading points within various patterns.
But arguably none more important than the major technology indices.
Today we highlight the Nasdaq 100 ETF (QQQ) along with the Nasdaq Composite Index. As you can see, both of these “must follow” charts is showing the potential for lower highs.
A similar pattern happened in 2000 and was confirmed when new lows were made.
On the other hand, a breakout over falling resistance would be bullish.
Lower highs or breakout, it’s clear that what happens next will be important from this market leader. Stay tuned!
Nasdaq 100 ETF (QQQ) and Nasdaq Composite “monthly” Charts
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