Title basically says it all. A double top is when a clear uptrend sets a high that is within 5% of a previous high. The measured moves all show clear uptrends that peaked and are now setting a lower high within that 5% margin.
A bearish breakdown of a double top is a return to the launch price. A bullish breakdown is merely a bull back that is about 60-70% the...
AS OF 30 MINUTES BEFORE OPEN QQQ @ 290.40 (ALMOST $2.00 GAP)
WE ARE GOING TO BE PATIENT AND LET THE FIRST 30 MINUTES RANGE SETUP
IF MONDAYS LOW IS < -$1.00 BELOW MONDAYS OPEN (MOP) WE WILL BE BUYING THE OCT 23RD 294 CALLS (UNDER $2.30)
IF MONDAYS LOW IS > -$1.00 BELOW MOP THAN WE WILL CONTINUE TO BE PATIENT AND LOOK TO BUY THE CALLS AFTER 1PM(CENTRAL TIME) OR...
The McClellan Summation index, not able to break 500, is turning lower with the price, indicating market liquidity is flashing a big warning sign. This is on the Daily chart for the Nasdaq and NYSE and others too.
No wonder lots of insiders are saying there will be a crash.
Disclaimer, this is only for entertainment and education purposes and...
The qqq it's been in an insane uptrend doing a resemblance to the bubble back then in 2000 with the hype of the internet, hopefully the story doesn't repeat but this scenario combined with the novel covid-19 makes me have some concerns about a not too far recession.
Pictured here is a QQQ November 239 short put I filled for a 3.90 credit. (See Post Below). It's got 33 days to go, and was valued at 1.32 as of Friday close (i.e., it's in profit by 2.58 ($258)).
I would like to lock in that profit here, but stay in the play a little longer to bleed the last bit of extrinsic (1.32) out of it. Rolling out in time is one way to...
Today's drop and then rally was EPIC. Nothing short of it. The Nasdaq-100 closed in the green. The bulls have won! Or have they? I made this chart to show a few things that are worth considering.
1. The Nasdaq-100 would need to rally 12% right back to get back to all-time highs and right as the mid-term election is starting. The market is also unpredictable so......
Where's the next bottom? It's certainly interesting.
Blue Line - Sept-October support
Orange Line - Feb High Pre-Covid
Black Line - Bottom of channel 2012-2020 upward trend
Personally, I think the fundamentals of the economy are worse than they were pre-COVID (unemployment, forestalled foreclosures & evictions, bankruptcies, businesses closing...), which means...
If you showed this chart to a 1st grader, and said, "What happens next?" I wonder what their response would be...
My guess is, they'll say, "It goes down from here, for a long time." In my opinion guys, if you're not bearish right now on risk assets, you may have bought chips at the casino because you saw Trump, the FED, the Treasury, and the Media, sitting at...
THURSDAY WAS AN UGLY GAP DOWN!
THE POSITIVES FROM THURSDAY WAS THAT IT CLOSED $3.00 ABOVE THE LOW, AND LESS THAN -$2.00 BELOW WEDNESDAY LOW.
FRIDAY (AS OF 45 MINUTES BEFORE THE OPEN) LOOKS TO OPEN ABOVE THURSDAY'S HIGH. THAT IS A POSITIVE.
BUT HOW MUCH WEAKNESS WILL THERE BE AFTER THE OPEN?
WILL IT FILL THE THURSDAY CLOSE GAP 290.10?
IF SO, WILL IT BOUNCE...
This is what the charts say to me. C Leg of A/B/C Elliot Wave
MACD crossover disagrees
Please correct me if I've missed something. I want to be a Bull, but the 9/3 peak and 12 year cycle up vs. an 8 year average 33% correction, and the Macro economics of layoffs and forebearance screams crash to me.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
This chart shows the Nasdaq-100 ETF QQQ as a weekly chart going back several years. It shows price, volume , and the newest addition to all TradingView charts... Anchored VWAP. It's been added as a drawing tool and getting started is easy:
1. Select Anchored VWAP from the drawing tools list on the chart’s left-side panel.
2. Now select a point on the chart from...