Rotate out of technology
Very difficult to get the timing right, but I believe we are nearing the top of the epic NASDAQ-100 run. Prices could consolidate or levitate upwards for weeks/months
Price is currently stretched >20% above the long term consensus of value (200WMA)
Price is forming a bearish ascending wedge
RSI is showing negative divergence
MACD is rolling over
Price is struggling at 1990's all time highs
QQQ had trouble rallying amid the powerful post-election rally. Trumps proposed policies support spending in physical infrastructure vs. information technology
There appears to be a rotation to value over growth names. Valuations are quite lofty for NASDAQ-100 names. The PE ratio of the QQQ is 22 (vs. ca 19 for SPY, 16 for EFA and 14 for EEM)
To initiate a short position, price must confirm and break the bearish wedge on impulsive, high-volume selling.
RSI must break 50
MACD-Histogram must tick lower
Price is currently stretched >20% above the long term consensus of value (200WMA)
Price is forming a bearish ascending wedge
RSI is showing negative divergence
MACD is rolling over
Price is struggling at 1990's all time highs
QQQ had trouble rallying amid the powerful post-election rally. Trumps proposed policies support spending in physical infrastructure vs. information technology
There appears to be a rotation to value over growth names. Valuations are quite lofty for NASDAQ-100 names. The PE ratio of the QQQ is 22 (vs. ca 19 for SPY, 16 for EFA and 14 for EEM)
To initiate a short position, price must confirm and break the bearish wedge on impulsive, high-volume selling.
RSI must break 50
MACD-Histogram must tick lower
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