theres no guaruntee this is a longer or even intermediate term bottom, but a bounce is clearly underway today, and it looks like were pulling back from the downtrend on shorter timeframes. id imagine that if we manage to hold the hourly reversal staying above that TRAMA line now hovering around 22.63 breaking VWMA currently flattening out around 23.48 we should...
soxl is pretty much plummeting if we get a significant gap down and cant set a higher low 4hr the 15 minute trend will continue downwards until the 4hr is bullishly diverged stoch, rsi a lot of people are covering, and that may lead to some squeeze, but the over all trend is down if we close gap from either direction, and it looks like it is setting a lower high...
the hourly picture for the nasdaq is looking like weve managed to hold some support over a daily neckline. if that necklline is threatened, id imagine we are revisiting that lower level soon. if we break it- look out below as a close beneath $31 will probably dictate 29.24 or lower. if we manage to hang on to this daily uptrend and close above the 33 mark i would...
TRAMA is crossing below VWMA and anything under gap close likely confirmation of bear reversal for the inverse, and there are more bearish scenarios realistically than bull for this inverse.
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since the top in december trama has crossed below vwma, and both have continued down together. the rare times they have diverged bullishly and rose together have been short lived. if things are going to be different this time the trend has to abruptly change. if we get a higher low compared to 27 and we break 33 i would shoot for 40 region. this rally is for...
depending how futures market plays out tonight and if people keep buying a mondays open we cod have very different outcomes. the bull case is essentially if we see RSI, Double STOCH signal remain positive or if we hit resistance at gap close and continue lower or make a double bottom. even in the bull case we could rally for a couple weeks and then double bottom....
if critical support provides meaningful buy volume and we close the week near the highs then semiconductors, and the broader market could exhibit a bounce here towards lower 36s. if we see another wave of selling down at these levels were probably blowing through that support on the weekly trending toward upper 16s taking the market with it as semiconductors are a...
tqqq is a big question because it is down a significant amount and a lead bear. if it turns into a lead bull here we could see 60% gains.
The chances of a daily bull pennant increases with every daily higher low we make. Holding 4500 spx es1! Emini s&p futures withstanding and moving toward the week high would the odds of getting to $64 TQQQ skyrocket. Staying over vwma and bottom anchored vwap having no qqe short entry would be very bullish. Channel break strategies say buy over rising support,...
in reality the tech boom is to blame for this correction. if we werent in such business with the market weight we are currently there wouldnt be a need for the drawdown in buying that we are. this could obviously co tinue, but my bias is still long after the current contraction and retracement. divergence from vwma, rsi and qqe signals strategies are long, and i...
Rsi needs to bullishly diverge further, so the drop in price should be larger. There's really little room to judge this as a lower low that could hold. Around 40 is an area that might induce bullish activity. I wouldn't look for a long entry right now, but there will be one eventually. This is damage that will last up to the monthly. Vwma has turned down, and qqe...
109.56 would be a great higher low to put in if we get bounce into the end of the week. i trust that if we keep cloaing over 105 on the daily that we will be back up at 123 in a couple weeks time.
i see a full recovery if broader market bulls can continue this turn around. should we find ourselves in a position where melt up is taking place, i think we have no choice but to go with that. the daily picture is shaping up in bulls favor, but the smart thing to do is wait for confirmation of the trend change.
theres a chance that getting back to all time highs may take a lonh time, and when we get there we may be heading into another drop. if volatility has returned as the new norm there is a lot of evidence to suggest that we wont see a stronger market than 2021 until at least 2023. should we make a second break to the downside whether it is sooner or later a touch of...
wti is still in a weekly uptrend, and that could mean bulll ish business for GUSH. i think every time we hit a bottom in monthly oil futures we experience a period of upside with extreme volatility until that pattern of lower weekly highs during reversal breaks on the daily. we are just near treating VWMA as support.
generally this etf is going one direction: down, but the weight may be lifted off its shoulders briefly as calls expiring next week are eliminated. if we cant break to new intraday highs i would imagine sqqq has one last trip above 40 only to get sucked back to vwma.
i think we will see a lower high, followed by a lower low, but we will stay over the .382, and then continue higher every period of volatility that dried up quickly or was extenuating in nature was v shaped, and every period that was more exaggerated or corrective in nature was cypher shaped. we could bull cypher with a touch of support, but if we break it things...