QQQQ Momentum Tee

A few weeks ago I presented a price Tee using the MACD to determine the centerpost. Here I show the Tee based on the MACD momentum peak. The Tees don't always point to intermediate term tops, but it not, they usually indicate at least a short term top in the making.

Some recommend using the mid-point between the two MACD bottoms as the centerpost, but I don't find that this works too well. The second higher low works best if there is one. If there is only a single low, then use that.

The third higher low with another momentum breakout in September could be pointing to another high in the making after the upcoming correction is over. We will have to wait and see if the MACD breaks down below the red trendline first.