alexp
Short

Nasdaq's double H&S in action

BATS:QQQ   POWERSHARES QQQ TRUST
320 11 0
Nasdaq's double H&S should drag it down to major support around 62.00 area. It's looking like continuation is simply inevitable and very unfortunate for the bulls. When triggers below 64.95 - the target will be 62.15 with stop at 65.95
Dopam
4 years ago
Are we starting the climb for the second shoulder on 1 year H&S?
Reply
Dopam
4 years ago
I have to revist this idea. Might be right on and time to think about shorting the S&P
Reply
alexp Dopam
4 years ago
and here it comes...
Reply
Dopam alexp
4 years ago
It follows Apple... If Apple reaches the Apex 519 then you'll be right.
Reply
alexp Dopam
4 years ago
although they're correlated, but not 1:1. Looks like AAPL is loosing steam and the support at 555-560 is really strong... We might see some buying there now
Reply
Dopam alexp
4 years ago
interesting.. lot of other people were saying that two weeks ago
Reply
alexp
4 years ago
this one finally worked out
Reply
yalo
4 years ago
perfect, and now what do you think? next target?
Reply
alexp yalo
4 years ago
shouldn't go much lower... we should see a correction to the upside soon
Reply
yalo alexp
4 years ago
thanks, only a correction? the trend do you think is still downtrend?
Reply
alexp yalo
4 years ago
See my weekly chart idea. The trend on dailies is still downtrend and we would need to break trend line first, correct to the upside and then re-test the bottom again before reversing. But overall trend on the weeklies is still uptrend and now QQQ touches the trend line which is very strong support, which is why I expect it to prepare to the reversal soon
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out