Lets start with SPY, based on the pattern on the stochastic indicator... I am expecting some retracement to about 128 before the continuation of the downtrend. But, do be advised to be prepared for the unexpected.
A Double Top pattern has emerged in IWM, the Doji bar on Friday indicates that this index might move sideways for a while or retrace back to the trend line above before continuing its journey towards the support at 65.88.
The recent sell off of QQQQ shows that the market is in a hurry to get somewhere. The stochastics reading shows "oversold", so a big move is coming soon. There could be a slight retracement to about 44.67, before this thing rolls over again to find its bottom.
As explained in my previous post, the strength of the Dollar is a determining factor here. If the Dollar keeps strengthening, QQQQ should theoretically weaken further until the dollar stabilizes.
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