If you haven`t bought the dip on QQQ:
Then it's important to understand that it's currently exhibiting a double top formation, known as one of the most bearish chart patterns, along with a substantial bearish divergence. I foresee a retracement soon, possibly to $416, but I still expect it to finish the year on a positive note!
Y'all gonna get rekt shorting this. Wave 5 underway. Might get another dip the next few weeks and then off to the moon. Targets based on various EW counts.
QQQ was looking great on Friday morning, it finally managed to break out above its bear flag and a downtrend it had been in since April. Unfortunately for bulls, it quickly rejected after consumer sentiment was released. Having a fakeout like this will usually lead to a larger move in the opposite direction, but I need to see more confirmation. I'll be looking for...
My dear subscribers,
This is my opinion on the QQQ next move:
The instrument tests an important psychological level 442.04
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 433.35
About Used Indicators:
On the subsequent day, trading...
... for a 3.52 credit.
Comments: Adding a rung out in Q4 here with QQQ IVR at 81.0, targeting the <16 delta strike paying around 1% of the strike price in credit.
Will generally look to manage shorter duration rungs as I come to them ... .
do yourself a favor and look into this incoming CME from the sun.
youtu.be/9QCA3jouCKk - it's a short video WATCH IT NOW
6 or 7 earth bound flares that each have the capacity to f things up massively.
the reason this matters is it's a DOWN ONLY situation. the market doesn't know about this (clearly) so any non-event doesn't move the market "back up". many...
How we close the end of this week is decisive. Is this just the relief rally like what we had in Sept 6, 2023 which only bottomed on Oct 26, 2023. Do you see any difference between these two rallies? NASDAQ:QQQ
Rally after FOMC gives some life back to the bulls. Tuesday's failure to close outside of Mondays range (failed break out) is signaling a possible retracement to the Low of the week (LOW). if we get that pullback a nice gap down on Thursday could signal a bear trap, if we gap up on Friday. Personally, looking for that set up to start the advance to ATH's
On the...
Classic trend reversal retracement
-Bear flag directly into one of the last imbalances (on 30m timeframe)
- Breakdown to 393 area very possible in the next month or two
- ~10% drop from current levels, would put QQQ squarely in correction territory
- Upside is that 393 area looks to be a very strong (and fresh) support
