The massive technical damage done at the end of the year 2018 was not insignificant. Too many people buy into the idea that the sell off was over done. If you look at a long term chart, however, we have not even made it to the level we were at when Trump was elected. My only point to saying that is that we have run a very long ways in just a few short years,...
I think we are in for a week-long rally back to the 168 level, which is clearly marked on the fib retrace line. 168 also represents a strong resistance level going back weeks.
So the QQQ representing the Nasdaq 100 remains in dangerous territory. The Levels highlighted in the chart show key consolodation and support levels. If we breach the 174 level to the upside, I see a strong rally to the end of the year. If we breach the rising triangle/support line just below the current trading price, we will likely see a fast move down to at...
I think that there will be a pullback from these levels, there is no volume on this run. I expect the NASDAQ 100 to return to a 7100 price level before continuing higher.
The market volitility has been breaking technical support levels almost daily. I think we need to hold the 155 level on the QQQ, if we don't bounce hard, we could see the begining of a bear market.
