optionsswing

$QQQ Institutional VPOC buy area while $TLT bonds selloff

Long
NASDAQ:TLT   Ishares 20+ Year Treasury Bond ETF
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  • $QQQ has found support at VPOC area where the indicator shows us heavy accumulation of buyers on the given range. Also note the trendline support it is respecting.

  • $TLT given the fears of inflation and the Federal Reserve hinting at raising rates, bonds continue to sell off in an environment that remains RISK ON. As Job numbers continue to grow in a strengthening economy, we want to look for slow growth in employment numbers in order to remain bullish on QQQ . A blowout in job numbers can seem bullish to the retail eye, but this is when the Federal Reserve will most likely raise rates and surprise the market. Would not be the first time the Fed surprises; back in 2011 the entire market was pricing in a taper but the Fed came out saying they will continue Quantitative Easing which sent shorts running to cover.

  • $TLT technicals point bearish with a breakdown from a rising wedge and a bearish MacD

  • The only Bullish scenario for TLT would be if Powell decides to bring rates into the negative which would send the financial sector into a free fall.

    -Daniel Betancourt, OptionsSwing Analyst
Trade active: An amazing effort by bulls today in pushing QQQ higher today. TLT also had a push today which bulls should pay attention too incase investors decide to remove risk and move into bonds.
Trade active: $QQQ wants to start gapping towards the resistance; be prudent with this trade now. Have seen quite the rally on tech. Upside target is 345 which is were I will plan on opening some downside hedges especially with the FOMC and OPEX coming up this week.

Comments

Thanks for sharing this chart and playbook for TLT and QQQ! We've featured it in Editors' Picks
200 coins
+9 Reply
The drop has nothing to do with charts. Everyone needs to wake up and do your research. There's a massive military operation underway. Buckle Up!
+8 Reply
mrscootinn1 HotCharts
@HotCharts, do tell
+2 Reply
Thanks for shareing....Bro
+2 Reply
Good job 👍, thanks for sharing 😊
+1 Reply
Fire chart
+1 Reply
Whats that indicator your are using on the right hand side?
+1 Reply