QQQ forming a steep falling wedge. Think we head down to bump the bottom of the wedge for a third time, undercutting the recent lows. However, I think we get a big bear market rally afterwards given how oversold we are on the weekly timeframe w/ 7 consecutive down weeks and RSI near 2018 and 2020 levels.
SNAP cratering AH on weak guidance should help pull QQQ...
Most “wave” theorists would tell us that markets (stocks) move in, on average three major waves. If that is the case, we have had two major moves down on the $QQQ. Both in the 90-point range with one rally of about fifty points (all moves intraday low to high). Could we be in for a Bear Market rally of around forty-five points ( ½ the move down on each leg)? If...
SPY 23-29 May 2022
We can based on the last month analysis, that the current volatility is around 5.15%
This is translated into 20$ from the current point.
So lets imagine that SPY is going open Monday candle around 390
With that in mind, with close to 87% probability of pointing correctly the top and bottom places we are going to have:
TOP 390 + 20 -> aprox...
The Nasdaq 100 (QQQ) has reached its support level when compared as a ratio to the S&P 500 (SPY). In the coming weeks to months there is a high probability that the Nasdaq will likely to begin outperforming the S&P 500.
Not financial advice.
Hey Everyone! 👋
Whew, what a week. Assets across the board got smoked, and the Nasdaq officially ended the week in bear market territory. For crypto traders, Bitcoin, Ethereum, and some other crypto assets have been cut in half, or more. Despite the S&P 500 being down only 13-14% from highs, only 25% of all listed stocks are above their 200 day moving average....
Is todays fake break out to the downside the sign of a bottom? Every time QQQ has hit the 200EMA it has seen a bounce. The only time QQQ broke the 200EMA was during the 2008 financial crisis. We could see a potential bounce from this level.
Yesterday, we stated that the rally was due to end and the bearish trend to resume. Then, a few hours later, the Nasdaq 100 index fell more than 5%. In the aftermarket, the selling continued; and in the early hours of futures trading, Nasdaq futures sold off as well. Then, the index (continuous futures - NQ1!) erased some of its losses and turned positive. At the...
The Nasdaq 100 NASDAQ:NDX could bounce before working its way significantly lower. The charts I've used track Invesco's ETF NASDAQ:QQQ , which tracks the Nasdaq 100. The QQQ is my preferred trading vehicle, including options on this underlying security.
In this chart appears a working thesis as to the wave counts starting at the ATH of 408.71 on November 22,...
It appears that we have a lot of uncertainty ahead and now is a good time to plan ahead to be sure you aren't left holding the bag.
Short Term: Up
Longer Term: Down
If you combine all the buying and selling across all the major indices you start to see the following:
1.) Sell off volume to the downside is higher than buying volume.
2.) Noya indicator showing...
... for a 2.52 credit.
Comments: Targeting the <16 delta strike in the expiry nearest 45 days paying at least 1% of the strike price in credit in the highest 30-day, broad market exchange traded fund on the board.
Picked up QQQ puts at 287 & 275 strike. Market is showing severe parallel to 2008 recession driven by lack of inflation capitulation and poor short term technical support. (see 2007 - 09 timeframes for historical reference)
The current drop in the Qs from high to low has now surpassed the Covid crash. This is JUST an observation. Currently sitting on the 1.618 extension from the Covid crash. I think this should provide some support given the way price formed a triangle at this price last time it was here back in Aug-Nov 2020; however, with weekly RSI being in oversold territory, some...
Accumulation has begun in earnest. We should see a 10-12% up side with this next rally to put us into a balance period. The green zone is the top of the long term channel. The red is the base of a bull channel. Incidentally, since 2009 crash, we left this red channel base. And we took this long to reclaim it. Now we're testing if this is the new channel and if it...
In this video tutorial, we quickly show you how the Bars Pattern tool works and why it's important. You can use the Bars Pattern tool to copy, duplicate, and measure specific trading ranges or trading bars.
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0. Notes to follow;
1. This looks like the bottom in tech folks.
2. Time to back up the truck.
3. You are looking for GARP (Growth at a Reasonable Price)
4. Think AMD / NVDA / IBM / MU / SNOW / NOW / AMAT / LRCX / ADI / TEAM / GOOGL / ORCL / AVGO
5. We are now ALL IN.
Pretty awesome. I love when math just works, you know?
If you read my previous QQQ idea, you would have read that my price target was the 295 range, which was the bottom of QQQ's quadratic mean.
We hit it today!
From here, I expect a bit of a relief bounce to bring it back towards that quadratic mean. I will share the linear chart below:
You can see the...
So far 2022 has gotten off to a very rough start for the Stock Market, with Russell & Nasdaq declining over 20% & s&p declining 14% from it's all time highs, while also making records with s&p having it's worst month since 2008/2020, worst april since 1970, and Nasdaq having it's worst month since 2000/2008, worst april since 2000; many are wondering when the pain...