SQQQ Santa rally came early - so does the nest one start on....
The reason I added 'so far so good' to the last post was that it was running up and a few days later it broke up above $7 as far as xmas rally It looks like I was off by 2 days. Usually when SQQQ goes below the green line (50 day moving average) it pushes up to the 100 day moving average (the slower Blue Line). This is not an everyday thing - it last did it a few months ago from the beginning to the end of September and ran up 28% then this recent run was short (NOV 22 - DEC 6) but ran up 22%.
The Stochastic RSI (orange and blue lines at the bottom of the chart.) StockRSI show us when it falls to zero on SQQQ it is time to buy and with in a week or a month you will run up 20-30%
This is great in years of sideways chop in the market, as people run from stock into cash and then back to stock again, that high volatility can generate great returns if you can catch the signals. It looks like SQQQ will fall for the rest of the year back below $5 and some equities will run up after Xmas - by then the Covid infection rate should be high which will cast doubt on the markets and scaring people back into cash. It might happen next week it might happen next month. It is hard to say, if you look at the Stochastic RSI it can go down to zero and stay there for a month before it take off again with one of these +20% moves.
This one is a lagging indicator and you can miss it by and inch or a mile.
Not trading advice i did not take this trade -I have been working on perfecting this system for a year and only took one trade on it in the spring. i will save this one in my back pocket for next September when every one sells Rosh Hashana and buys Yom Kippur.
Now that i think about this the Lunar new Year is coming up and that would be a great overlay on this chart for the next pump. has anyone had luck timing this with the luna new year?
The Stochastic RSI (orange and blue lines at the bottom of the chart.) StockRSI show us when it falls to zero on SQQQ it is time to buy and with in a week or a month you will run up 20-30%
This is great in years of sideways chop in the market, as people run from stock into cash and then back to stock again, that high volatility can generate great returns if you can catch the signals. It looks like SQQQ will fall for the rest of the year back below $5 and some equities will run up after Xmas - by then the Covid infection rate should be high which will cast doubt on the markets and scaring people back into cash. It might happen next week it might happen next month. It is hard to say, if you look at the Stochastic RSI it can go down to zero and stay there for a month before it take off again with one of these +20% moves.
This one is a lagging indicator and you can miss it by and inch or a mile.
Not trading advice i did not take this trade -I have been working on perfecting this system for a year and only took one trade on it in the spring. i will save this one in my back pocket for next September when every one sells Rosh Hashana and buys Yom Kippur.
Now that i think about this the Lunar new Year is coming up and that would be a great overlay on this chart for the next pump. has anyone had luck timing this with the luna new year?
Comment:
Well crap, a 5 to 1 reverse split on this today and 6% jump on the day - after waiting for a while on this one somehow I missed it. Some girls will never come to the dance no matter how many times you ask.
