Select DPO 63 on TQQQ
Price in 1 dollar levels on right side
DPO levels on left side
Max Pain Max Ex OTM 40 calls at highest OI
Trade chart TA down above the 0 line
Trade chart TA up below the 0 line
Sell OTM calls above the 0 line
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In my previous update I emphasized that this yellow sell zone is a very strong resistance level for SQQQ. There was a lot of uncertainty surrounding the Friday jobs data, but the data came in very strong and almost double expectations. This led to a bullish rally for TVC:NDQ and SP:SPX that led to steep bleeding for SQQQ. I predicted that SQQQ will drop below...
I took a short at $372 using credit-calls. The thesis is that NASDAQ:QQQ has made lower highs creating high-resistance liquidity and has shown a propensity to cheese-knife down below prior swing-lows.
This is a bearish run.
There is a swing-low at $348 that is a possible bounce area; but I think that NASDAQ:QQQ intends to challenge the $372 zone...
I also believe that SQQQ will form a new all-time low below $16.92 in Q4. Currently SQQQ is sitting directly below a resistance zone between $20.90 and $21.74, and the EMA ribbon is acting as an area of resistance. For bears that are long on SQQQ, the yellow resistance zone is a key price target and the next key price target on the way up is $29.19.
The SQQQ has given us PPO Confirmation at a potential 1.414 Bullish Butterfly PCZ and has topped it off with MACD Hidden Bullish Divergence. If we are to see the QQQ pull back 50-65% then the SQQQ should go up about 100-200% from here, though I may end up just targeting $32 depending on how fast it goes.
Originally posted something like this, roughly, 4hours ago
TVC:NDQ is closing in on the 2023 term trendline again.
Weekly this is shown more clearly.
Back to daily charts:
LOWER HIGHS
HIGHER LOWS
What pattern is this? Symmetrical Triangle!
What does that mean? #NDX has a big move coming this month.😱
#stocks
🔹Double top formation NEGATIVE signal broke support at 376..
🔹Support at 334 and resistance at 385.
🔹Technically NEUTRAL for medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe...
On the 15 minute chart TQQQ took a dive down through some relative volume voids
shown on the volume profile into a double bottom also showing a transition from
high relative selling volume into some decent buying volume . I can conclude that TQQQ
is in early reversal and will head the other direction through the same volume void which
could allow for a rapid...
QQQ had a bad day yesterday reacting to adverse financial news with a deep
correction as technology stocks were hit the hardest. On the 15 minute chart,
price dropped to the bottom outer band in the double BB indicator and then
reversed and heading inside both bands and then gapped up in the open of the
premarket session. The dual RSI indicator shows the...
On the 4H chart, QQQ has been in a trend up for the entirety of this year
reaching 42% YTD. Of late, QQQ has had a 2-3 day pullback correcting
a decent uptrend over the prior week. On the Relative Trend Index,
while the signal is below the mean line, there is all the more upside
and the overall trend is positive. The dual time frame RSI shows...
QQQ is out of the rising channel and hitting the previous high trend line, this is a good setup to get into some puts for a pullback, still in a uptrend so tread lightly.
I don't have much to go on but that is fine. I just use the trend pivot line to put my back against (like a stop loss) So the margin of loss is minimal if the trade fails. I call this area the position of maximum opportunity.
SPY has had a good run this spring. However, things are changing. Just this week, the debt \
ceiling got raised. The fed will be auctioning large amounts of treasuries to pay bills. This is
money that will not go into the equities markets. Buying volume on a dollar basis will likely go
down as a consequence.
On the daily chart with a double Bollinger...
Welcome back! Let me know your thoughts in the comments!
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![QQQ: QQQ - Rising Trend Channel [MID-TERM]](https://s3.tradingview.com/q/qaVTo1r9_mid.png "QQQ - Rising Trend Channel [MID-TERM]")
