QQQ on the BounceI caught QQQ on a quick bounce of a 2day channel it has been trading in. i do expect it to fall soon Long03:12by HelloUs0
QQQ OUTLOOK 06/05 - 06/09QQQ crushed it again last week, testing a breakout above the channel we drew last week. Investors will look at Apple’s press conference at WWDC 2023 (Monday at 1:00PM EST). It’s safe to say that whichever way Apple moves, NASDAQ:QQQ will follow. Technical Analysis: Although we got 2 candle bodies to close above the bullish channel, we still have yet to have a full candle body with wicks close above the trend line. I do think we will have some sort of consolidation this week. Bulls will want to see price action continue above last week’s open at 352.71. Last week’s .618 retrace is around 350, so look to see if dips will be bought at fib retraces. To the upside, we can target the gap fill above from 356.78-359.93. Bears will have control if we cannot hold a consolidation within last week’s price range. If we lose last week’s low of 346.51, another significant golden pocket retrace can be found around the monthly level at 338.19. Upside Targets: 354.65 → 356.78 → 358.97 → 359.93 → 362.54 Extended: 364.57 Downside Targets: 352.46 → 350.72 → 349.65 → 348.54 → 346.51 If we lose last week’s low: Extended: 344.57 → 341.31 → 339.60 → 338.19 → 336.67by peterjames_60
QQQ I There is a strong rise Welcome back! Let me know your thoughts in the comments! ** QQQ Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Long02:15by BKTradingAcademy191917
Entering ideal Short361 ideal short or long term put entry. Weekly bearish orderblock. Buying ITM 1 month out for starters Shortby PumpCTrader2
QQQ AI FrenzyIf you are not familiar with this channel take a look at our previous ideas as this is a continuation of our QQQ trade. Originally QQQ presented a great risk to reward opportunity and we entered a position in that trade. QQQ has out performed our top target, and hopefully at this point you have taken some or most of your position of the table. QQQ still continues going up even when I thought it was due to a break. This came as the result of an unlikely surge in AI stocks that has given energy back to the market. This movement was not forecasted(By most, myself included) however has taken the market by storm. This is the unpredictability of markets should teach you this lesson. I don't advise shorting unless you are a true subject matter expert and are comfortable holding a high risk position. Estimating tops is hard, even harder then bottoms. I have made most of my money by keeping positions for a long time and having conviction. Its one of the reason i stopped posting much in the last few years. Adopting a strategy of holding your position can prove to be a more prudent and profitable . With that being said, i favor QQQ to the downside very short term, but i do have confidence that long term QQQ will trend up. We can sell our position or hold some of it. The next dip presents the next buying opportunity. Until then we wait patiently with a small position long. While we wait we earn 4.6% on our cash investments with decent brokers.(Robinhood gold offers 4.65% on cash) . The trading we perform around QQQ is only to optimize our long term position. Best of Luck Ecicic by ecicic335
About to pull the rugI don't think price is going to break up this time, most likely to pull back and maybe try again in a few weeks. I have some puts just in case.by ArturoLUpdated 554
QQQ 2yrs unchAfter 2 years, QQQ price is unchanged. In June 2021 QQQ closed at 354.43, in June 2022 QQQ closed at 280.28 and now in June 2023 QQQ so far has hit a high of 354.26. So after all the market volatility the past 24 months holders have won to this point. This is a QQQ 1 month chart with TTCATR set to SMA24. SMA24 is actually sideways which makes perfect sense. Plus, I put the past 2 years high, mid and low levels horizontal lines. Also, I made the 2023 parabolic trajectory YTD. I would not chase this price action at this point as QQQ is +32% YTD and in my opinion will pull back sooner than later to at the very least to 331.49. As for today, 6/2/23, QQQ will be bullish because of a debt ceiling relief rally. But I do think it is time to start researching hedges like SQQQ, AAPD & NVDS for the next few weeks or even months through the summer.Shortby Options360Updated 2
Opening (IRA): QQQ August 18th 298 Short Put... for a 3.04 credit. Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.Longby NaughtyPinesUpdated 0
$QQQ at dual resistance NASDAQ:QQQ at dual resistance with the trend line and the parallel channel. This is a good area to take some profits. by AlgoTradeAlert2
Opening (IRA): QQQ August 18th 296 Short Put... for a 2.97 credit. Comments: Targeting the <16 delta strike in shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.Longby NaughtyPinesUpdated 1
a few outcomes here 🔭either consolidate and continue higher, or dip to trend/SMA support then up from there.. target 3 should hit ! boost and follow for more ❤Longby Vibranium_CapitalUpdated 18
QQQ Approaching 0.382 retrace, likely topTechnicals: Each of the previous bear-market-rallies ended near the 0.382 retrace from previous peak. This is the biggest one yet and it is approaching the 0.382 retrace of the All-Time-High. I suspect we'll hit or slightly surpass 349.71 and then the next downtrend will begin. Fundamentals: PCE came in higher than the previous reading. The FED is not done tightening.Shortby RobBiddleUpdated 5
QQQ short term trade LongQQQ providing a good risk reward scenario for new entries with the potential(though not confirmed) trend change. With bank failures, it seems that increases rate hikes could stress banking system and lead to more failures. Market is now pricing in a lower top on the interest rates and potentially cutting of rates by end of the year(unlikely). Short term these factors should lead to positive appreciation for tech/qqqLongby ecicicUpdated 112
QQQ is poised for a dropJust a PSA that QQQ is poised for a massive drop. Here's a QQQ 3 day chart with the pi RSI indicator showing a very similar pattern between February 14th 2020 and May 17th 2023. I don't know who, what, where, when or why QQQ will drop. But from a technical analysis this is a high probability drop within the next few weeks. QQQ options data: 5/19 expiry: Put Volume Total 17,206 Call Volume Total 6,731 Put/Call Volume Ratio 2.56 Put Open Interest Total 1,358,838 Call Open Interest Total 705,551 Put/Call Open Interest Ratio 1.93 6/16 expiry Put Volume Total 4,918 Call Volume Total 2,987 Put/Call Volume Ratio 1.65 Put Open Interest Total 2,211,108 Call Open Interest Total 1,420,866 Put/Call Open Interest Ratio 1.56 7/21 expiry Put Volume Total 2,429 Call Volume Total 365 Put/Call Volume Ratio 6.65 Put Open Interest Total 431,140 Call Open Interest Total 196,000 Put/Call Open Interest Ratio 2.20Shortby Options360Updated 878719
QQQ - unfilled gaps at 348.5 and 359.93On the back of the AI frenzy, traders have pushed the QQQ up to Fib resistance and unfilled gaps are within spitting distance of being filled. the SPX also has an unfilled gap at 418. My guess is that these gaps get filled (at least the 348.5) on QQQ and then the market takes a breather after an extraordinary run. Price is trading outside the rising wedge fueled by a 20% gain in the SMH over two weeks and the tech titans flexing their muscle. The Russell 3000 has half of their constituents trading below their October levels and the Russell 2000 can barely gain any traction. Not calling any direction here but pointing out that the QQQ is likely due for a breather before any further advance. by BobbySpaUpdated 441
QQQ Facing A SlowdownIt has been four months since my bottom call of the QQQ (the purple vertical line) . In that post i've discussed two types of correction. One of the scenario's is on the chart still. For the other, see my previous post . It looks like it is time to take some profits from that trade (if you've managed to take the trade four months ago), as the price is touching the lower resistance level. For me, this is also one of the most intresting resistance levels as it is close to the previous all time high. If the index manages to break this one, new all time highs are extremely likely, but it is too early to say for certain. by FetchTeam2
$QQQ Outlook 05/30 - 06/02The tech sector is on a tear. NASDAQ:NVDA earnings set the tone last week and the AI craze is on. NASDAQ:QQQ had a bullish week, closing up +3.53%, bringing it up +8.76% on the month. Strong earnings, job cuts, and developments in AI technology has sent the sector higher. Technical Analysis: The last two weeks saw NASDAQ:QQQ break out of the rising wedge we were watching. Last week’s high signaled a test of a bullish channel. This channel uses the same uptrend support line we’ve been watching since the beginning of March. We are looking to see if this continues higher, or if the channel resistance is respected. My general lean for this week is bullish, although after last week’s incredible run, I do expect a bit of a retrace before we head higher. A healthy pullback is due so we can continue to move up this channel. I would be bullish if price action can continue to hold above last week’s close of 348.40. Bear case if we can break below last week’s open at 336.25. I’d expect a bounce here as it is in the golden pocket (0.618 retrace would be 337.08), but if we cannot hold this level, we could target the gap to fill below down to 332.91 which would invalidate the golden pocket. Upside Targets: 348.40 → 349.25 → 350.72 → 352.46 → 354.43 Extended: 356.78 Downside Targets: 346.38 → 344.57 → 341.31 → 338.19 → 336.25 Extended: 334.35Longby peterjames_66
Chart for the QQQ going into next week.Currently short QQQ for July with long positions hedged against it.Shortby D1Finance110
$QQQ Parallel channel uptrend NASDAQ:QQQ parallel uptrend continues into resistance. Holiday hangover next week should be light volume which favors the upside. Longby AlgoTradeAlert1
NVDA inside Bar, SPY QQQ SMH Support & Resistance Guide- NVDA inside bar, zero red flag for bulls at the moment still within 0.382 retracement - SPY testing Fridays High - QQQ rising wedge bull break getting more fuel from SMH sector - need to see SMH pull back to see some QQQ consolidation on daily time frame Short18:53by ArcadiaTrading228
Nasdaq Order Flow - Buying Dips Is The Way To GoHey traders, In the Nasdaq, all we care about, until the tide reverses, is to look for long opportunities... On the back of an exhaustion-type entry setup with an attractive initial risk-reward, we've seen the market take off... With the structure in our favor as indicated via the OFA script, all we need is for price to lean back against its support zone to re-engage (in magenta) Be reminded, when applying the OFA script , it has 2 main components to study: Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude? Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.Longby FlowState2
Opening (IRA): QQQ Sept 15th 265 Short Put... for a 2.97 credit. Comments: I have remaining rungs on in July and August, so just rounding out third quarter rungs with one in September, targeting the <16 delta strike paying around 1% of the strike price in credit. I'll naturally look to add in shorter duration at strikes better than what I currently have on should we get further weakness and higher IV.Longby NaughtyPinesUpdated 333
QQQ momentum is supper strong,but..!The QQQ momentum is super strong, but We can not deny the similarities between today's chart and 2008 and 2000!by Moshkelgosha4422