qqq wedge

The Nasdaq 100 has now formed a clear wedge pattern, aka ending diagonal, which suggests a reversal could be imminent. What’s more, it’s formed the pattern right into the 61.8% retracement of the decline that began when the internet bubble popped. As you can see on the chart below it has also triggered a 9-13-9 DeMark Sequential sell signal on the monthly time frame (the most recent 9 will technically not be triggered until next Tuesday):

qqq

For those of you unfamiliar with “The Wedge” I give you: