QQQ: The bearish week actually closed out with a bullish Long

NASDAQ:QQQ1D

Invesco QQQ Trust, Series 1NASDAQ

Description

⋅ Mar 3, 2018 1:14 AM

Piercing Candle. The count is still intact. Who knows, the QQQ might lead the DOW and the SPX into the 5th wave top

Comment

⋅ Mar 6, 2018 9:38 PM

Pennant Breakout Target

Comment

⋅ Mar 9, 2018 5:38 PM

Charted this yesterday, posting now after the fact LOLOLO

Comment

⋅ Mar 13, 2018 12:34 AM

Comment

⋅ Mar 13, 2018 5:24 PM

Count still intact

Comment

⋅ Mar 13, 2018 11:15 PM

Breakout and back test. Count still intact.

Wave Analysis

Comments

redapple2017

⋅ Mar 13, 2018 5:50 PM

Are you saying it's not going to pull back to 170 area?

Will_Wong

⋅ Mar 13, 2018 6:00 PM

@redapple2017, The count is still valid as long as wave 2 does not retrace 100% of wave 1. So technically, QQQ can go as low as 162 and not violate the rules but I don't think it will get that low.

redapple2017

⋅ Mar 13, 2018 6:23 PM

@Will Wong, Thanks! :)

Hope4Today9

⋅ Mar 3, 2018 3:31 AM

But is the ABC done? Fun with waves... Too soon... Monday will bring more down side.

Will_Wong

⋅ Mar 3, 2018 3:53 AM

@Hope4Today9, This won’t be the first time a Stock has gone on to an impulse from a 5- wave correction.

TomPower

⋅ Mar 6, 2018 7:39 AM

@Will Wong, Well if thats an A up, we should have B down Tuesday

Will_Wong

⋅ Mar 11, 2018 11:27 PM

@TomPower, I didn't count that as an A up. I counted these as a new 5- wave up and wave 4 as done and over.

Will_Wong

⋅ Mar 11, 2018 11:26 PM

@Hope4Today9, Are you a believer now?