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...
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...
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...
💰 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.
I did this for fun. All notes are on the chart. It requires that you believe in Elliott wave theory and that markets will eventually reset to the mean.
If you look at crashes like the great depression, dot com bubble, housing market, then it is a lot more plausible than you think. People during those times never thought the party was going to end, until it...
I made some tweaks to my long-term wave analysis of the Nasdaq. I thought that there maybe a small correction then one more rally high up before a major correction. However, after some more noodling through it this morning, there is a more than zero chance that the upcoming corrective wave C may be it. The rally off the recent low (Wave B) in March hit 1.236 of...
... for a 48.23 debit
Max Loss: $4823 on setup
Max Profit: $1277 on setup (26.5% ROC)
Break Even on Setup: 246.77 vs. 243.72 spot
Debit Paid to Spread Width Ratio: 79.1%
Notes: Either a standalone short with the Q's at all-time-highs or a broad market short delta hedge against a long stock portfolio with the back month set up in the expiry nearest the...