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Scandex Market Update – June 5

Scandinavian Capital Markets

QQQ traded to an all-time high on Wednesday and at today’s open before ending the day down slightly. It’s interesting that the Nasdaq Composite and Nasdaq futures have not traded all-time highs yet. S&Ps have not either. I’m not sure if this non-confirmation means anything. Time will tell. 223.94 is still seen as an important level (call it the ‘breakage’ point) but weakness under the lower diagonal line (lower magenta line) near 230 would be enough for me to suggest that the uptrend has broken.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/06/05/market-update-june-5/
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