Yogigolf

QQQ bullish target

Long
NASDAQ:QQQ   INVESCO QQQ TRUST
Looks like a good target, some confluent fibs, trends etc. about 15,000 on NDX.

Comments

Hey Yogigolf, big follower of your ideas. just one question: your previous idea was vix going sky high - how does this correlate with that?
+1 Reply
Yogigolf atakanmete
@atakanmete even on small pull backs Vix has been spiking to 35-40... next correction I see around 50 as a reasonable target for vix to spike to. I’m seeing the market run up for another month or two followed by a correction. Additionally the vix can rise while the market rises for 1-4 weeks so since it appears vix is at a potential support at 20 I’ve started buying vix calls while remaining long TQQQ calls.
+1 Reply
Yogigolf atakanmete
@atakanmete while I do have a potential vix target to the ATH, this would require the market to really ramp up into a blow off top. Not the most likely outcome but I’m open to the possibility. If you look back at vix during the 2000 bubble you will see the vix created a sideways range. My analysis has been showing we are in a similar market. Also along this track the Nasdaq 100 kept pushing up while other sectors were crashing, so this rotation could also support a larger then expected vix spike while the Nasdaq 100 still remains in an uptrend.
+1 Reply
atakanmete Yogigolf
@Yogigolf, thanks for the details boss, much appreciated
+1 Reply
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