Breakout looks like it's coming...a lot of soaking on the bids. So very close to ATH's....
This is personal opinion only. Hoping to encapsulate all market participants on many timeframes and the thought process behind why some moves may seem illogical on the surface.
Most definitely alot of short interest at these prices...but nuances my friends. Resistance flipping to support (tentatively holding) with another day of a lot of absorbing on the bids...Could see a breakout back up to retest ATH levels. There is still a downside gap unfilled from last week...but as you should know the indices don't mind leaving them behind for a...
Tentatively attempting to hold here for a move higher. OBV showing constructiveness, 25 day ROC curling back up to neutral. Resistance trying to flip to support, and a ton of absorbing on the bids intraday and a strong move up showed some character change...maybe not enough to push for new ATH's but in these 50/50 setups I'll lean bullish almost everytime. On watch.
Looking a the TQQQ 1 year chart, looks like we are going to see a downswing to test support again after hitting a triple top at ~$111.89 since March. Current channel movement looks to mimic that from March. My entry point is $93 on June 14th but may come up to $95 to get lifted. What are your thoughts?
You can see what the Nasdaq has been doing for the past few days - nothing. There is serious overhead resistance. Unless it breaks through the easiest path is a 61% retracement and fill the gaps below and try again. Again if the trendline get broken all bets are off. Nasdaq is better at filling gasps better the SPX.
A very pretty Cup & Handle with a projection near the bull channel resistance, 13800+. There's a concerning volume gap in the 13550-630 range, but it could be filled after the up move, or not at all.
After bleeding for a while now, the Tech sector finally shows some signs of life! Our short-term target stands at $110.
TQQQ bullish sign. 1. MACD almost buy signal. 2. Price passing EMA 21. 3. EMA 21 almost bounce off EMA 55. 4. Price bounce off parallel channel. IF EMA 21 don't bounce off EMA 55, market will sideways. IF EMA 21 bounce off EMA 55, BUY SIGN.
Institutional investors call themselves "Smart Money" because they have access to more data and analyze it better than us at any moment. If you check Fibonacci time zones on NASDAQ, you will be shocked: 1- weekly chart: post-pandemic Bull market last 55 weeks. (55 is the 10th number in the Fibonacci sequence) 2- In the hourly chart, it follows the time zone...
SQQQ is the inverse of TQQQ and follows NASDAQ 100 which are 3x leveraged ETFs. This chart is on the Weekly timeframe... it basically shows the overextended market. I will be watching this for mean reversion toward the kijun.
Any comments? Use support/resistance lines. It looks almost like a sine wave to me.
QQQ is showing Long signal on RSI of MACD and RSI of VWAP strategies. when it shows on more than one strategy , it is strong signal. Yellow color on the chart is from RSIofVWAP , blue color on the bottom chart is RSIofMACD.
Moon phases begin 3 days after, marked by vertical lines. If the trend started the same day I gave it credit. If you could've lost considerably holding till the next moon, I put it in yellow, but still gave credit for initial trend. Full moon (bot) was correct 9/9 1 ylw New Moon (top) was correct 7/9 2 ylw So it seems you can trust moon phases more than most...
Too bad it's Friday. Who knows what Monday holds...
Mountain Top Formation, Rejection of Falling Channel, Could not pull through 0.618 Fib Retrace, Major Head and Shoulder