Finally QQQ has had a meaningful and rather rapid correction. I have been calling for 460ish for a while and have avoided adding to majors that arent tied to option selling. I took this opportunity to add a hefty position to amazon in the long-term spot account.
-If this teal line doesnt hold we will drop to the prior red trend.
-I think we definitely see some action in the demand zone box, possible a flash below to the 50 ema around 440$
-The quicker this happens, the quicker we are to base and then recover
-If this correction is drawn out we will have a pretty lousy August until a rally in late Sept.
-If this teal line doesnt hold we will drop to the prior red trend.
-I think we definitely see some action in the demand zone box, possible a flash below to the 50 ema around 440$
-The quicker this happens, the quicker we are to base and then recover
-If this correction is drawn out we will have a pretty lousy August until a rally in late Sept.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.