Good Call. I put my fib levels starting at the bottom of the 4th leg of the Elliot Impulse Wave. It seems you started your fib at the bottom of the start of the impulse wave. If you look at it my way, the price just reached the 0.786 level and is starting a reversal there.
LucyF2492
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@bodeen88, Can you send me your chart for clarification? Thank you!
BoneFunkenstein
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Yes I have the same analysis and sentiment
LucyF2492
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@DavidWolbrecht, Great! Always good to know others are seeing the same thing.
DaddySawbucks
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You are Long on the Inverse ETF and therefore bullish on the Short ETF? Confusing... so, you expect QQQ to decline again? Seems likely...
LucyF2492
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@DaddySawbucks, Yep, I'm bullish on shorting :) I do expect QQQ to decline!
DaddySawbucks
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@LucyF2492, Thanks for the prompt clarification- I agree. Surprised us Friday with a FOMO rally and short covering, expect another bear flag Monday from forced liquidation short covering.