Just an idea but I'm looking at a possible reversal for QQQ on prior support and 127% extension of the current swing down. If this comes to fruition and then reverses at TGT 1 ...then Im looking at an "ABC bear" chart pattern with a further swing down.
S&P 500 hitting that resistance level i talked about the other day ($278-$285 level). Hopefully we bust through but i am looking at a short term reversal soon. This has been a prior resistance and then support level since early 2018.
Here is another company I am looking to get into after this Virus shut down is over. Bottom line is the company appears to be solid, almost everyone uses a Visa and I think the long term growth of this company will continue to grow.
Dave and Busters is a restaurant stock I'm looking at going into when we start to recover from this shutdown due to the virus (if they survive). Prior to the economic shut down they planned to expand from 136 restaurants to 250 by next year. They make most of their money off of entertainment and the bar section and they do not offer take out or delivery options...
Pretty strong support and fib clusters at $213 area which is also the pre Trump election era. I'm looking at another 2 weeks then we hit the bottom and start working our way back up. fingers crossed!!!
We came very close to touching the 100% retracement of the Aug low to our most recent all time highs. If the news cycles start sending out some positive news about China and the spread of this virus then next week Im going long!!!!
This is a human tragedy vs the financial crisis we had in 2008. This is a pure fear drop and a good potential to make some serious money!!!
Still looking at more of drop in the market until we get a reversal back to the bullish side.
1. the real economic impacts that the coronavirus is having. i think the US and Canada will be fine overall but i think the virus is going o further shut down Europe and Asia until the summer.
2. wallstreet and media folks have been pushing for a recession and...
Here are some levels I've been looking at today for possible reversal zones.
So far and as of this analysis we're bouncing around the 50% retracement taken from the Aug-Sept 2019 support region but I doubt that bounce will last past tomorrow.
Support level 1 for me is the $300-305 level
and then support 2 is the 100% retracement and back to the Aug-oct 2019...