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Short with RSI level break

For confirmation daily RSI needs to stay below 50. ATR right now equates to about 3%. Stop is a little tight for that. Something to keep in mind and reflect on later. Shorting one of the names that has held up well is probably not the best choice for capital allocation however. Im sure some sort of cipher or bat pattern could better pick a target.

Stochastics(60,3,3) below 50 on confirms downside bias

Notice where the 2 orange levels were drawn from in mid April. Once we got back above that level we held it for 2 months for the most part. Area of interest for us today.

A level to keep in mind here

case study 2nd channel is a bit descritionary. top level doesnt hold much weight

Bullish thesis is for QQQ to bottom in inverse H&S type price action and for IWM to form a diamond bottom. Stops would be below yesterdays low Im thinking. Publishing for review purposes

target near bottom of channel

Another theoretical short idea

Short with weekly Close below 21 ema and Weekly RSI close below black level -- Just a theoretical idea. I am not going to take this.

__ monthly RSI breaking lows --> take it short

Other time frames listed below -- 2 hour needs to be bounce here If it doesnt daily time frame RSI will break down -- Before this we were focused on the 1Hr 50 level, and then the 40 level after the first test of the 50 during this massive up leg -- General note: All higher timeframes are bullish. Stars are aligned but rejection could take place. THus why were ...

Weekly time frame

Long with deep stop if triggered weekly timeframe play

From past studies, divergences that occur below 62 are normally some of the worst. A roll over below 10ema with a sustained move would have me taking massive defensive action for a short term move.

Additional timeframes to be posted:

Recent Examples of power earnings gap plays: NVTA, DDD, AAPL 1st target is to high of range. Second target is 1.618 fib extension level

Deep stop