This looks scary. SQQQ (short of QQQ) is forming a bullish divergence within a wedge. Well, I think Nasdaq is due of a big correction though. I'm packing my things ups before the tsunami runs over me.
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The tides could be about to change. The bear market rally is fizzling out and SQQQ RSI is showing some Bullish Divergence.
AMEX:SPY - not making any significant moves ON as we await the FED policy decision at 2:00 ET. It is widely expected that they will raise another 25 basis points. Here are the scenarios and plan of action. 25 bps hike - because this is the expected scenario, the market has priced this in, since mar 13th, we've gained 30 points in SPY. My bias is that we...
WOOOOOOOOO!!! my analsis TO DE MOOOOON Diamond hands Mist buy
#SQQQ broke out bearish pennant. So if #SQQQ still above 30.3-30.5$, we will see market continue drop until #SQQQ get 31.8-32$
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 31.5/61.80%
The magnitude of this divergence is enormous. Other indictors are trending in the bullish direction We should see a nice pop for SQQQ
Pretty flawless arc/consolidation- breakout to the upside for SQQQ & pullback on SPY?
If Momentum Reverses in the market and we start seeing weakness in Q2 this could provide target levels for long on the $SQQQ in the following weeks/months
So far so good catch rallies up sell into but the over all trend is DOWN TAYING SHORT
The bear is done with the cigarette break and is about to come back strong. I am seeing a re-start of the beginning of the correction, except with greater price magnitude. SQQQ is oversold and the MACD is about to turn up. Except an interesting next couple of weeks. This correction has several months to go. SQQQ could easily reach $50 and my most aggressive...
SPY - gapping up slightly to relieve some short pressure from yesterday after Yellen and Powell tanked the market. Their comments mentioned they're not expecting rate cuts this year and discussed tighter credit conditions form businesses and households. SPY rejected the key levels I mentioned including the PD high, 200 EMA at 399, and 400 key level. Then moved all...
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SQQQ is experienced a temporary downturn, and based on reoccurring trends, I suspect it will soon be followed by a strong reversal upwards. Good luck. Not financial advice. Trade at your own risk
1) Find a FIBO Slingshot 2) Check FIBO 61.80% level 3) Entry Point > 35.2/61.80%