$QQQ head and shoulders top unlikely–wall of worry back

GMI6/6
GMI-26/8
T210866%

This weekly chart shows that QQQ is now above the resistance line from the possible head and shoulders top pattern. The next test is the old all-time high, around 187. I am tiptoeing back into the market in my university pension accounts. The steep December decline dissipated the bullish euphoria and brought fear back into investors’ minds. A lot of people saw for the first time that the market can decline quickly and mercilessly. The market always climbs a wall of worry and “the wall” is back.  And the GMI remains on a Green signal.

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