QQQ - Death Cross Imminent
$Invesco QQQ(QQQ)$ Death Cross Imminent:
A death cross is a bearish chart pattern where the 50-day MA crosses below the 200 DMA. It's a signal of a potential long-term downtrend.
The previous one was on March 2nd 2022; in the early stage of the bear market. There was a multi-week rally starting on March 15th, it made it to the 200 DMA, and then, another bear leg started.
On May 1st 2020 the signal appeared, but in the middle of a V shaped bounce, it was reversed in few days.
On December 4th 2018 it happened during the last stage of the selloff, reversing on March 2019 since that bear market also had a V shaped bounce.
Similar short lived cases occurred in 2006, 2010, 2011, 2012, 2015 and 2016.
On February 4th 2008, the signal preceded a major bear market, and a multi-week rally happened from mid March to June, with a temporary recovery of the 200DMA.
200 likes💚for a visual thread 🧵with each event.
A visit to 200 DMA is likely, will this be a V shaped recovery? or is this a bear market rally?
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