QQQ: Multi Timeframe Analysis (No Opinion Only Facts)

65MIN CHART

• We are currently in short-term downtrend as the price continues establish lower highs and lower lows
• Oscillator, however, it has been establishing higher lows (see arrows)
• This is what is known as the “Bullish Divergence” which it needs to be confirmed

DAILY CHART

• Daily-oscillator finally hitting the oversold zone similar to January and March (see highlights)
• Both times (Jan & March), market did not bounce right away but had some up-and-down movements before finally reversing back up
• Currently, as of today, the oscillator is not at a full-cross state (not fully crossed as of today)

WEEKLY CHART

• Red arrows represent when the price breaks above the prior-pivotal swing high = 2019, 2020 & Today
• During 2019 run, after the oscillator hit overbought condition (see blue boxes), it corrected -10%
• During 2020 run, after the oscillator hit overbought condition , it corrected -15%
• Today, during 2023 run, after the oscillator hit overbought condition, it is currently correcting -6%