How Heikin-Ashi points to a market pullback

Nasdaq-100 Index Tracking ETF (QQQ) daily

Since mid-June, the uptrends are longer and the downtrends shorter, a clear sign of bullishness.

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Let's look at positive and negative trend elements for the short-term:

(+)

1. Heikin-Ashi candles are white, above the MA7 with a positive slope.
2. The close is 5.72% above the trailing-stop.

(-)

1. haDelta turns below its short average.
2. haOscillator is pointing downwards, with a failure to advance above its average (dotted line).

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Tech sector ETF (XLK) daily

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Let's look at positive and negative trend elements for the short-term:

(+)

1. Heikin-Ashi candles are white, above the MA7 with a positive slope.
2. The close is 6.21% above the trailing-stop.

(-)

1. haDelta turns below its short average.

(!+)

1. haOscillator is flat, above the 50-line.

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UltraPro Short QQQ ETF (SQQQ) daily

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We identify positive and negative trend elements for the short-term:

(+)

1. Heikin-Ashi reversal doji.
2. haDelta turns above its short average.
3. haOscillator is rising above its average (dotted line).

(-)

1. Heikin-Ashi candles are red, below the MA7 with a negative slope.
2. The close is 26.73% below the buy-stop.

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US Dollar Fund ETF (UUP) daily

The US Dollar performs well in a risk-off environment and signs of its strength anticipate a market pullback.

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Let's look at positive and negative trend elements for the short-term:

(+)

1. The last Heikin-Ashi candle is white and above its MA7 with a positive slope.
2. haDelta turns above its short average.
3. haOscillator is bullish, rising above its average (dotted line).

(-)

1. Heikin-Ashi candle is still below the buy-stop that acts as resistance.

(!+)

1. The close is 0.46% below the buy-stop.

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The takeaway

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All four Heikin-Ashi charts point to a market top very soon.

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