13080 has been POC and support zone building for bulls toward the end of last week; and now again early this AM. The cup formation broke high and has stayed very even. 12950 is another local POC that I expect to be the bottom for a handle formation to remain intact this AM. I'm feeling hopeful for rocket at open to around 13350-13450 and support will start be built near there Mon. and Tues.
I'm not a professional, do your own DD. I'm holding 1.4k shares TQQQ around $92 avg . Not the greatest entry, but I'm in the green here and expecting more. I'll be watching closely in pre-market today to trim my position if it looks weak. Downside scenario, I wouldn't worry unless we break the 100D EMA around 12650.
I'm not a professional, do your own DD. I'm holding 1.4k shares TQQQ around $92 avg . Not the greatest entry, but I'm in the green here and expecting more. I'll be watching closely in pre-market today to trim my position if it looks weak. Downside scenario, I wouldn't worry unless we break the 100D EMA around 12650.
Comment:
Also note the RSI is nearly in oversold and ADX dropped during the selling today.
Update to the idea. Bears had a nice day today. Not an expert in Elliot Wave, but their 5-wave count should've been done Friday; and Bulls had a huge 650pt impulse off the bottom with <50% retrace. So that looks like the start of a Bull impulse wave instead of a correction wave. Also, futures and today seemed to extend the cup up closer to the brim and then define a better handle, tho it's dipping a bit far now. If it holds at 13080 again expect a huge impulse off that +600pts or so.