Negative Price Omen In QQQ's Monthly Bearish Engulfing Candle

Monthly QQQ Update:

Apart from fundamental analysis, spin, and hype about the efficacy of AI use cases, funding, eventual revenues, and, yes, profitability, the Monthly Technical Setup in QQQ is warning us that, atop a 37% upmove from the March 2026 low, a 93% advance from the April 2023 low, and a 200% bull move from the October 2022 low, the price structure hit an ALL Time New High at 762.86 in October 2026, and during the same month, rolled over into a bout of weakness that left behind a MONTHLY Bearish Engulfing Candle!.

In my 4 decades of technical analysis, there is NO more powerful negative price omen than a MONTHLY Bearish Engulfing Candle.

At the very least, it warns me to be careful from a risk-management perspective (fewer, smaller positions in general), and also tells me that acute oversold conditions poised for recovery rallies should be viewed as "rentals," i.e., relatively brief upside swing trades that require impatience rather than patience to enable a "take-the-money-and-run strategy... ahead of a resumption of the budding, dominant downtrend in Nasdaq 100 (technology) names...