This is the monthly chart for QQQ, using log scale.
H&S pattern in the RSI seems to precede market volatility. It happened in 2016 and 2018.
It seems like another head & shoulders pattern could be forming this year.
We're already showing signs of a bearish divergence between monthly price and monthly RSI, so it's possible the RSI makes a lower high to form the right shoulder of a H&S.
Going by history, we should expect a downturn shortly after the H&S pattern is formed. This is not a prediction, I'm just saying what might happen if history repeats.
I just can't stand people coming out to post FUD Short chart. QQQ just will head up and up. You make money buying and selling puts. With all the Tech in it, this thing will just head higher and higher.
Huntz
⋅
@kwancy11, are you writing monthly or weekly put options?