On QQQ daily, price took a sharp bounce and has come up to resistance (lower yellow line). Today's small indecisive candle may be a warning sign.
Also, RSI 14-day dipped below 33.33 (in oval) and so there should be more downside and RSI should stall between 60 and 66.66 (pink line).
In place of QQQ puts, buying SQQQ is a good idea to hedge your account if you want to hold long positions. It will increase in value if tech stocks sell off. The black line provides a downside target.
The monthly chart on right is for macro planning. This last two month's churn can continue lower, so it is a good time to make a list of stocks you want to buy and set alerts for lower support buy targets. Do not pay too much for overpriced stocks.
Keep in mind with hot inflation and the 10yr yield staying high, the November Fed meeting will move markets.
Also, RSI 14-day dipped below 33.33 (in oval) and so there should be more downside and RSI should stall between 60 and 66.66 (pink line).
In place of QQQ puts, buying SQQQ is a good idea to hedge your account if you want to hold long positions. It will increase in value if tech stocks sell off. The black line provides a downside target.
The monthly chart on right is for macro planning. This last two month's churn can continue lower, so it is a good time to make a list of stocks you want to buy and set alerts for lower support buy targets. Do not pay too much for overpriced stocks.
Keep in mind with hot inflation and the 10yr yield staying high, the November Fed meeting will move markets.
Unlike typing software, it seems QQQ does not have an auto correct feature. So I patiently wait and focus on my long stock positions.