The Lonely Island
Facebook is pissing all over the bullish party. It’s not an intriguing enough pattern for me to trade, but I’d say the key support coming up is at 167.18.
The cool thing is that all the Nasdaq bully boys have been abandoned on an island pattern. It’s game over, fellas. Your bull market is dead.
Disclaimer: This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult ...
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It is unfortunate QQQ is so heavily represented by a few names, however Facebook is a company specific issue and tech can overcome it if tech remains resilient. The bigger issue is a looming trade war and potential inflation, although that may help many tech companies selling internationally or holding lots of overseas assets.