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
Are we starting the climb for the second shoulder on 1 year H&S?
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I have to revist this idea. Might be right on and time to think about shorting the S&P
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alexp Dopam
and here it comes...
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Dopam alexp
It follows Apple... If Apple reaches the Apex 519 then you'll be right.
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alexp Dopam
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
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Dopam alexp
interesting.. lot of other people were saying that two weeks ago
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this one finally worked out
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perfect, and now what do you think? next target?
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alexp yalo
shouldn't go much lower... we should see a correction to the upside soon
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yalo alexp
thanks, only a correction? the trend do you think is still downtrend?
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alexp yalo
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
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