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  • Jay

A Fibonacci confluence !

As you can see from this Weekly chart, the $QQQ broke out of its ascending triangle to continue its uptrend and hitting yet again another all time high.

The RSI remains in a bull range and has still some room into the overbought territory.

So where do we go from these levels ?

Well, the Fibonacci extension from the 2015 high to the 2016 low says $149.58 before $183.41 ...

Now here's the interesting part...

The Fibonacci extension from the 2000 high to the 2002 low says $182.76 ... that is indeed two targets less than a dollar apart from each other but based on a calculation 15 years apart !

Don't you just love technical analysis !?

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