Some great 5% shorts the last 2 days. Rinse and repeat. Tomorrow we are looking for it to touch at least 100 maybe 95. The big guys that move the market are slowly bringing this back down to reality. You can see the green down candles, the last two days. Definitely a pullback, but could be more. I marked two key areas on the chart that will likely be hit...
Since Sept TQQQ looks like it's formed mini Wedge patterns inside possible Wedge ready to Form. The downside is calling to complete this atomic Wedgie Sandwich!!! Don't be tricked by the long play or the atomic wedgie will hurt!! This is only an incredible idea so please do your own due diligence! Comments welcome!
Looking at the TQQQ hourly chart, you will notice that the megaphone is showing reward to the downside around 56. The upside is limited to about 114 area. What is the logical play? Comments? Also the Yearly RSI is touching 80. What happened last time yearly RSI touched 80? Feb 20, 2020, Sept 2020 Kaboom! Please do your own due diligence these are just fantastic...
TQQQ Wedge forming bouncing off resistance. Next spot $$$$!!! Please do your own due diligence this is just an amazing idea!!! Comments welcome.
Nsadaq looks to of finally put in a short term top here for some profit taking a swing shorts if this wedge break holds. We can see higher prices being made with lower MACDH and RSI on the hourly charts good for some swing trading. Stop at 13700 on the US100 chart. There are some levels of support so we have to be careful and take swing trades within 5 and 15 min...
Negative RSI divergence. MACD coiling. If breakdown we could see a move back down to demand zone around 297-96.
NASDAQ index , represented by the QQQ ETF chart in this post Is trading in a rising channel Looking at the price-action within the channel We can see a bear flag forming Therefore, I think that after a final push Up And retest of the resistance The flag will break downwards And fall to retest the channel support Short! Like and subscribe to never miss a new idea!
I started looking back for areas in time where the volume profile specifically looked very similar. We've kind of got an interesting volume profile going on right now with recently almost all buying volume and a very clean diminishing buying profile followed by a sudden approximately double selling volume from the next most recent candle. I pulled those...
QQQ, along with the rest of the market, has been in a bearish trend since mid-October. The factors that pushed this bear trend, namely the covid third wave and lack of another fiscal stimulus remain the key factors. As such there's no stopping the market until the next major support levels formed in the September market decline. For QQQ that gives us a target...
QQQ started a rapid correction this afternoon after the government fiscal stimulus talks fell apart. QQQ finished its first wave extension to 274. The second wave extension remained unfinished after-hours in its wave 5 and should resume in the morning. Our target is the third wave extension to $270, which is 161.8% of the first wave.
Nasdaq was the leading index this year and we found out why pretty recently. The FAANG index was being propped up by nonother than SoftBank with a $5Bn options positions on big tech. SoftBank got their hands on OTM calls for big Tech which did a few things: 1) Forced the options market makers to hedge the position against them meaning they had to buy the...
In an uncertain market it is hard to find footing. NASDAQ:QQQ is currently testing a jumpy support level right now. The biggest factors that will play into the outlook of the NASDAQ and the market as a whole is government stimulus and the upcoming election. Many analysts are comparing this years election to Gore-Bush election and the uncertainty could be...
There may be a bounce for a week or so but in general, I see this playing out to about 240ish (or the 200 ma) before a larger counter rally. If the channel doesn't hold, we're looking at 220 area. I think the high is in, but the unwind may take time. Good Luck
QQQ - Heading towards 256~257 support ??
After a brief 2 day rest, QQQ looks to continue bearish run as it still remains below daily moving averages. We just had a hourly 13 EMA/30 SMA crossover, which confirms a sustained bearish move. Our intermediate target is $264 but we're really shooting for the previous low of $260 from 2 days ago.
Revisiting a previous idea that kept finding resistance at $267, which was finally cleared today. After retracing today's move a bit, next week QQQ looks to continue correcting to its next target $257, which is a strong support and 61.8% of the Corona rally since March. Stop is a strong and convincing move above the previous $267 resistance.
QQQ breached the 30 day SMA again today (see arrow). It is now retesting the 50 day SMA it bounced off earlier this week. If the 50 day SMA is breached, our first target is $258, which is 61.8% of the move of the Corona rally since March. If that doesn't hold our next target is $243, which is 50% of the Corona rally.