Well everything is going as predicted, i sold SQQQ at the close to manage risk and lock in profits, even though there is a high probability of going to the downside i'm not going to be greedy. So looking ahead we are forming a head and shoulders on the 1hr time frame with the shoulder area being a high volume / support area ,$19.88-$19.29 as of right now the q's...
1. So looking back on the chart when the MFI has hit over bought it has been a good time to short the market, in a downtrend when things become over bought it usually represents a good shorting opportunity 2. If you go back on our last leg down we hit a wave 4 @ the 38% fib level with a descending wedge breakout then dropped to new lows to wave 5 before rallying...
So just a friendly reminder that we are still in a bear market so be extremely careful trading against the trend! I closed my long position a little early to manage risk. This is what i'm seeing, the last few large candle sticks have lacked volume behind it, which means we lack BIG money. TSV and MFI are both showing signs of weakness and bearish...
WAVE 4 complete, please check my other post, the gap was filled, TSV. is showing signs of weakening, price going up but volume is not there. I exited my TQQQ long, i jumped into SQQQ which in my opinion was a little to early. I should have waited for confirmation.
Market reversals like this tend to signal market bottoms. Only has happened 9 other times since 1983.
Order SELL TQQQ NASDAQ.NMS Stop 18.29 LMT 18.29 will be automatically canceled at 20230401 01:00:00 EST TQQQ weekly bearish hammer continuation wave 5 downtrend
We are approaching a critical level for #TQQQ I think it might give us some temporary bounce 18.4 is level to watch next week
We are at the end of an Elliott wave. This will be a turning point keep on the lookout for wave 1 of the next cycle. Things are telling me, recession is canceled until next year so wave 1 might be upward.
Lets go baby, we are at the bottom, making new lows! Only way to go from here is 62.90 by July! -SPECIAL NOTES- 1. I trade this stock with a very small percentage of my money, I am not dumb. 2. There is a ton of controversy on this stock, in my opinion it should only be day traded, not long term due to volatility decay. 3. Since there is so much...
Election coming. Fib 50% looking a safe bet here. Expect SPY 349 and then bounce back up to 400+ by year end.
Might see a run up to 27 and if we can break that 32 seems possible.
We have a nice pitchfork setup going on. Should see a momentum swing up from here.
See the reversal Hammer. i wish to see green day on Monday and Tuesday then we can see good spike up in QQQ again
TQQQ still hasn't recovered. News coming out tomorrow is the FOMC, causing the flat run. Hopefully Feds do not cause this market to drop further, I believe they will not want to do that. Nevertheless market is calm before the storm.
Wanted to document this drop for my personal record keeping. This is a pre market drop, will post another with aftermarket trend for analysis. 09/13/22 CPI data effects.
NASDAQ:TQQQ Disclaimer : I am not a financial advisor nor a registered investment professional. This content is for entertainment purposes only and is not investment, tax, or financial advice. Always do your own diligence and research. You are solely responsible for all investment, tax, and financial decisions that you make.
This is the daily chart of SQQQ. SQQQ is the ETF that tracks the Nasdaq 100 ETF ( QQQ ) inversely. When tech stocks fall, SQQQ rises. Traders, therefore, use SQQQ to short tech stocks, or to hedge against a collapse in tech prices. There are several bearish signals appearing in the daily chart of SQQQ, which hint that we may soon see bullish movement for QQQ...
widening channel up towards old mid highs. qqq's sealed up a bottom and now trying to tighten the bolts as it goes higher.