QQQ reaches 144 Fibonacci number at high in June, 2017. First red flag for tech stocks and stock indices

QQQ reached the 144 Fibonacci number at the high on June 9th, 2017. This is also at the Uranus planetary line and resistance.

As you probably already know, 144 is one of the master Fibonacci numbers.

(1 + 1 = 2. 1 + 2 = 3. 2 + 3 = 5. 3 + 5 = 8. 5 + 8 = 13. 8 + 13 = 21. 13 + 21 = 34. 21 + 34 = 55. 34 + 55 = 89. 55 + 89 = 144)

This is the first red flag for uptrend in tech stocks. Price would have to break out above 144 to turn more bullish again.

Tech stocks are likely to lead the stock indices lower when they break down.

A break of 136.50 is the next sell signal in the daily chart.

Good trading,

Ted

 

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