The Nasdaq may look ugly, BUT pay more attention to where it is on the road map. IF a reversal materializes at the current level, it can establish a double bottom. If it pushes lower into the mid 153's, it will be within a high probability reversal zone. What does all this mean? It is high risk to be short at current levels. We are looking for relatively strong ...
Money flow index showing that money didn't get out with market drop which make expectation to start new fresh uptrend targeting fibo resistance as showing with main target at 179 ..
QQQ is a strong sell.
Thesis: QQQ has completed a 5 Wave Cycle and will now begin the correction phase. Big Tech is immensely overvalued here.
QQQ's chart has setup an irregular correction which occurs after a 5 Wave Cycle. Irregular Corrections have a phenomenon called 'Double Retracement'. The first retrace is the extension of the 5th Wave and the second is ...
As shown on the weekly indicator, we are getting into an area of weaker momentum where the stock market finds a nearby low. As a stubborn bull, I am long the market as long as it stay above the February 2018 lows. I am looking for a significant bounce near to all time highs and then I recommend to reduce risk by taken some profit.
... for a 1.08/contract credit.
Adding to my January cycle QQQ core position after stripping off some units earlier (See Post Below). Since the overall position remains fairly delta neutral, I'm not looking to add delta with this trade, so am basically going with a neutral setup.
With the previous close costing a .71 debit and this open paying 1.08, my January ...
Hi friends! Welcome to this update analysis on the Nasdaq, via the QQQ ETF! Let's get right to it! Looking at the daily chart, you can see that the Qs have been running into a bit of trouble, after rallying for a historically long period of time inside of this black uptrend channel. I'd like to first draw your attention to the 50 EMA (in orange.) You can see that ...
... for a .71/contract debit (.37/$38 profit per contract).
Taking some small profit here on my QQQ January cycle core position by mixing and matching profitable put side with profitable call side of iron condors I've put on over the past several weeks.
I'll look to replace this setup with another fairly delta neutral setup in the January cycle, since we've ...
Long QQQ's if you dare. Clearly defined range still intact. Be wary of false breakouts. Perhaps best to wait and see until range is broken for higher conviction/direction.
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NASDAQ:QQQ
