Community discussions

7 hours ago

So the recent move from $612 to $600, in Japanese terms, is a marubozu

• It signifies strong selling conviction, or what the Japanese call “rikusen” (battle victory for the bears)

The sequence today is a morning star reversal - the Japanese candlestick signal for a bottoming move & early bullish recovery

• It suggests that the sellers’ momentum is exhausted & a new “dawn” (short-term upward phase) is beginning, pending confirmation above $612

xchris9

11 hours ago

3rd friday of the month, makes me think tmrw will be all profit taking

mlbdamenace5

12 hours ago

reason why I do not like playing puts

pakoumal

13 hours ago

The higher lows suggest steady buying pressure

• Multiple rejections mark the horizontal ceiling around $613
• Volume has been contracting, which confirms consolidation ahead of a potential breakout
• If QQQ closes convincingly above $615 on strong volume, the pattern confirms & can target roughly the height of the triangle - about $25, projecting a move toward $640
• A breakdown below the rising trendline (~$600) would negate the pattern & suggest a pullback toward $590 (the prior swing low)