An update on an older pattern drawn, still sticking to same pattern. There is a definite rising wedge developing long term. Along with the decreasing RSI we should see a drop of this industry overall. QQQ we should see a correction downwards, by end of Q4.
Looking at this chart, we see a rising wedge formation. The general uptrend remains unbroken, however recently, the RSI is showing a bearish divergence. Basically as the price goes higher, the volume behind that price is slowing down. These are both signs of an upcoming reversal.
Knowing that this stock is heavily invested in Tech, I would expect this to ...
Ever since the first crash in 2002 1.05% I felt it was possible that was just the first wave of a 3 wave connection. The last the hope of this bearish pattern realistically is that this is what the EWT 0.41% folks call a irregular flat. IFFFFFF this is the case the common Fibonacci relationships are the the "BB" wave is 1.272 or 1.38 x the "AA" wave. We are ...
The price is bouncing between the bullish trendline and the resistance and it's creating a triangle. Once it breaks one of those levels it may start a new strong trend. The breakout must be confirmed by very high volume to avoid fakeouts and pullbacks.
The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They ...
https://www.tradingview.com/chart/OsBXckpZ/
Opened today when spot was ~144.70.
QQQ in Oct 20th monthly expiration options
long the 147 call
short two 148 calls
long the 151 call
credit .36
Theta .81 Delta 10.81
max profit 136 loss 164. Anything lower than the break-even of about 145.50 will profit between 36 and 136.
No risk to down side.
This trade is looking ...
After a great data report the bullish trend has kept awesome , but at the short term we might see a slightly correction move with stock RSI Indicating that the ETF is overbought, comparing with the INDEX:NASX we could expect down moves from the market the next week before this one keep´s rising.
