DGSTACC: MACRO ANALYSIS OF QQQ / PENNANT FORMATION
In the chart above I have provided a simple analysis on what can be considered for when it comes to the overall market.
1. Pennant Formation is provided by taking higher lows and lower highs with a point of convergence.
2. If followed through Pennant path can force price action to previously seen pre-covid times.
3. This would in fact validate a completion of GOLDMAN SACHS 340 market bottom prediction for SPY if QQQ is to fall to 240.
Note: This Macro chart will be used for reference and complete a more micro analysis of QQQ.
1. Pennant Formation is provided by taking higher lows and lower highs with a point of convergence.
2. If followed through Pennant path can force price action to previously seen pre-covid times.
3. This would in fact validate a completion of GOLDMAN SACHS 340 market bottom prediction for SPY if QQQ is to fall to 240.
Note: This Macro chart will be used for reference and complete a more micro analysis of QQQ.
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