I noticed that QQQ is a full 25% above it's MA and a full 5% above it's EMA. The RSI on QQQ is also above to take it's turn. These things combined in the past year almost always lead to a fall back to the EMA and being 25% above the 200 day is something that really peaks my interest as that's a multi-year record. I've been slowly getting my short positions...
This will only take a few minutes.
I have noticed this pattern in various cryptocurrencies and spotted it here as well when I was comparing ETHUSD to the dot-com correction.
For the past few months I've heard nothing but: "this is a sucker's rally," "dump soon, this is unsustainable," and "they can't create a bull market by printing themselves out of it."
The markets will not fall until the big tech stocks do, and they are looking ripe for failure from here. I will highlight a few things I see on the charts.
Strong bearish RSI divergence on the RSI and a classic rising wedge complete with an exhaustion overthrow. These features present themselves on the daily chart .
On shorter time frames, we may even be looking...
Grabbed short at 259.61 and like Risk:Reward of 1 to 3 here with measured move down to 254.77 over next couple of days. Stop set at swing high.
Do your own due diligence or talk to your advisor as this is not investment/trading advice.
Time will only tell how this plays out...There is a lot of momentum in this market right now, specifically tech. There's a 15%+ pullback coming. The question right now is just, how much meat is left on the bone, until then?
Confirm the channel break, and move above the trendlines and this thing could get parabolic (or more...
QQQ has been demonstrating a divergence since FEB. In addition, it seems that we have reached the same ratio levels between QQQ and SPY as in 2000s.
Therefore, I expect QQQ to experience a small pullback. I don't think it will be a crash per se, as these technology companies are earning real money these days, but nevertheless a 23 or 38 level Fib...
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💰 LET'S GET INTO SOME QQQ ETF ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) Neutral 🤷♂️
- 3day Chart
- Green Engulfing Candle
- 3/3 EMA DOTS Green
We are aware on the 3day on big players like the DOW and SPX500 we are starting to see potential shift for selloff as they start to compress...
Simple comp between QQQ and IWM. Spread between the two reaching its highest level today with tech rallying and small caps underperforming. One theme that has been developing over the past month or so is whenever the Nasdaq makes a new record high, other indices fail to see the same follow through while virus headlines continue to worsen.
QQQ is on fire! its starting to look overbought. price broke support and is now bouncing towards retesting. this would make a solid head and shoulders pattern with the blue line as neckline (drawn from a 30min candle chart). stop loss is just above all time highs. remember: the trend here is up, so these countertrades need strict trade management.
Tech is making ATH after ATH, if it doesn't reverse here, I see it hitting 300s by EOY. With fangs breaking out and holding the breakout, its only logical to say overall market is bullish until proven bearish.
Possible short fib levels are marked by red. The Trend is marked by purple line. As long as that trend holds, we must assume the market will go parabolic....
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...