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It appears as though we have finished the bull rally in QQQ. As a result it is extremely risky at this time to try and go long on bounces, as they will likely be short lived therefore the potential risk greatly exceeds the potential profits.
*Not financial advice, simply for educational purposes.
Let me know your thoughts!
Good luck trading,
I noticed after last weeks air drop selloff, we could be seeing a similar sharp down/up price selloff to rebound, that the QQQs experienced in 2014. So upon closer inspection, the levels are quite similar, when looking at Fibs placed at the previous base range bottom to the pre peak selloff.
Now the question... Is there a equal strength price vacuum above that ...
The chart shows levels that when bridged become support or resistance. Just look at it and see how and when it turns using these continuos turning points. I am short biased in the market despite the recent upward move
So previously I thought we were building out a massive 1-2 to the upside, but that expectation has gone to the backseat after last week's action was impressively more bearish that I expected. Therefore, my primary expectation now is that we head to the 160 region in the next month, and after that a mind boggling rally to new ATHs (~200) In that phase of the rally, ...
short term down trend. a break of 165 would be a big hint at a bear market. holding long term puts $SPY $IWM
Passing the 200 day moving average? Bear marketing coming
Not withstanding yesterday's spectacular selloff - which was indeed mentioned in the previous chart, I have now updated the counts. Bottoming has happened exactly WHEN it should have - so for now, stuff is bullish. If we make new aths then that would be extremely constructive for a major target bump up
The indexes are down quite a bit from last week. Yesterday the Dow Jones lost 831 points, Nasdaq 315 points, Nasdaq 100 327 points, and the S&P500 94 points. Across the board we are seeing carnage in the markets. This shows the downturn is broad based and not specific to certain industries or one index.
For this post I will focus on the QQQ which is an ETF that ...
I can't help that I am seeing so many bullish setups...
Possible pull back, First Target 183.56. Wait to reach one.
QQQ is in the middle of Wave 5, I expect a complex Wave 5 most likely to end at 100% extension ($207). FANG Bull Market almost over: A, B, C correction imminent...
I haven't been watching the market because other job calling, so couple weeks we tried to get up above the $2941.42 line and, it flipped and fell apart like a well-done turkey. on the qqq daily we see mo hammer, M PREV IN DOWN, Daily shooter, Weekly outside bar
The journey up over the last 3 months since early July was just erased over the course of the last week or so, with much of coming just in one day. Right at the 200 EMA for the close, but at the moment NQ futures further down below 7000. One scenario is a bounce from this level where past congestion lines up as potential support just below the 200EMA, and if it ...
Looks like we are entering in the last stages of the bull cycles and then a correction to the .5% of fibobacci scale.
So many breaks of support today... This is just one of many. Not sure where this stops, but it may have a reversal based on the H&S formation.
re-testing las weeks low?