It seems like quite a coincidence that NASDAQ:TQQQ has been so linear on a logarithmic scale. You'd expect more randomness.
Why is it so straight?
Is this a result of some fundamental underlying economic laws?
Or is the Federal Reverse using its powers to maintain a very specific level of long term economic growth?
Keep watch of this ratio-We're looking like 1999 based on this ratio. Tech to go hyper before tech wreck 2.0? The recipe is slightly different but it's starting to smell the same. Even if this plays out, we should see the NASDAQ cool off & consolidate for a bit..perhaps we'll see some weakness going to the Fall prior to election with increased volatility in the...
There seems to be a pattern here. When a strong sell signal is followed by a buy signal, there are strong gains over the next few weeks. Also notice the Supertrend buy signals on 6/23 and 10/12. 6/23 was followed by a loss of ~15% followed by a 100% gain. 10/12 has now also lost ~15%.
The TECL algo has over 680,000% profit since 2012 in backtesting (see testing screen below). In forward testing it predicted the September market fall (see short order, orange bar on Sep. 1) and it's recovery (see long order, green bar on Sep. 23). It gave a bearish signal (see the red bar down).
TECL is a leveraged 3x bull tech ETF and it's closely related to...
NDX looks like it could find support at ~11,000 for the following reasons.
1) Potential Trend Line Forming; Break toward the top
2) I have the 2 Stdev Bollinger bands plotted: Price action is at the lower limit at this moment and could present buying pressure from the many who use this metric for entry points.
3) Fib levels show a retracement level at about...
One of two things will happen:
Many puts will be OTM, we rally
- I will consider closing positions whether they are in profit/loss or roll over
The PC ratio will continue to push forward
- I lose a bit on this but net profit on overall positions
I anticipate the elections to continue to exert downward pressure on TQQQ as forecasts predict an administration that is less business-friendly will take control, and begin legislating an environment that is less supportive of profits and rapid growth. I suspect a bear condition on TQQQ and the broader tech market to persist into the new year, and think short...
I see a downward channel the past few days on TQQQ and QQQ, an corresponding upward channels on SQQQ
Resistance around 135.40 on the downside.
Breaking move Up or Down out of trend coming soon.
Morning delight as the market rises, followed by afternoon drops seem to be the norm these days.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
First the algo gave a bullish signal for AAPL, QQQ and TECL on Friday which stayed on till the close of trading. (The 3 tickers are highly correlated as AAPL is the main holding of QQQ and TECL--the latter being a leveraged 3x bull tech ETF based on the same holdings as XLK). The most significant bullish signal is TECL which has a performance of 699,963% profit...
My Sep. 23 prediction (based on pitchfork patterns) was perfect, QQQ ended up right on the tip of the arrow I drew on Sep. 23 (same with TECL, see related idea). Today QQQ crossed a new channel I drew and it usually bounces off when this happen. This is a narrow channel with shorter history so it doesn't have as much weight as the other ones but it's still...