This is the monthly chart for QQQ, using log scale.
H&S pattern in the RSI seems to precede market volatility. It happened in 2016 and 2018.
It seems like another head & shoulders pattern could be forming this year.
We're already showing signs of a bearish divergence between monthly price and monthly RSI, so it's possible the RSI makes a lower high to form the right shoulder of a H&S.
Going by history, we should expect a downturn shortly after the H&S pattern is formed. This is not a prediction, I'm just saying what might happen if history repeats.
H&S pattern in the RSI seems to precede market volatility. It happened in 2016 and 2018.
It seems like another head & shoulders pattern could be forming this year.
We're already showing signs of a bearish divergence between monthly price and monthly RSI, so it's possible the RSI makes a lower high to form the right shoulder of a H&S.
Going by history, we should expect a downturn shortly after the H&S pattern is formed. This is not a prediction, I'm just saying what might happen if history repeats.
Catatan
I called this one pretty well
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.