$QQQQ Monthly Chart
The Cubes are already above 20 EMA on the monthly.
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The Cubes are already above 20 EMA on the monthly.
Click to enlarge
Monthly chart of the SPY SPDR S&P 500 Index ETF.
20-period exponential moving average seems like a pretty significant level. It’s currently at $105.60, roughly equivalent to $1056 on $SPX. The next logical target, imo.
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Break out or break down? Place your bets.
Typically this would be a breakout pattern (should break above, through the flat side). However, volume is decreasing and short-term RSi has been diverging from price.
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