NQ Price Channel or Rising Wedge Right Shoulder

NQ has Put In a Rising Wedge or Price Channel Right Shoulder

NQ has Put In a Rising Wedge or Price Channel Right Shoulder

NQ has put in a price channel or rising wedge right shoulder on its potential head and shoulders topping pattern.

The price channel would be in its critical decision wave, with NQ having failed to zoom to the channel top to set up an upwards breakout.  That means, whether it’s completing a price channel or rising wedge, NQ should pause here to form at least a temporary top on this move up.

NQ could top here to complete a right shoulder on its H&S before a crash down through the neckline (green scenario).  Or NQ could form a bigger, looser top to tag the high and create a double-headed H&S before a return to the neckline and a new right shoulder (likely a triangle right shoulder).

Or NQ could consolidate here in a false top within the orange megaphone before a retrace to its VWAP and a trip to its top for another new all-time high (blue scenario).  NQ could also consolidate briefly and then just head straight up to the orange megaphone top.  Either way, after a new all-time high it would need a retrace to VWAP before it was legal to break out upwards.

There’s a Sornette bubble crash call on the FANG stocks.  That means we’d see the green scenario roughly 60% of the time.

13 Comments (To enlarge images, right click on image & then click "view image") → NQ Price Channel or Rising Wedge Right Shoulder

  1. Roland Leung

    What would cause FANMG to crash? I really would like to know. Unlike INTC, QCOM, AMAT types of stocks, those fake companies like FB, GOOGL, MSFT, NFLX can easily come up with fake user subscriptions, pay/click metrics. And AAPL can also easily fake the numbers by stuffing the channels.

    Reply
    1. I

      Well now that Macron has geopolitical ambitions and strategy I wouldn’t be surprised if the European union will probably soon pursue AM for extreme domination of the market ( unlike the US they go after monopolies, remember Microsoft?)

      Reply

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