What DOES a picture mean? -- 2nd glance QQQ analysis
Updated
After reviewing the QQQ chat for LONG term, it seems net neutral. It would seem that a 2 year high going forward has already been written. Looking ahead now, it seems to be bullish. IDK check my other analysis from March 31 when I said stocks were going down. I dont usually expect such nice timing, but all in it seems downhill. Long term, with inflation on the rise it could be a great time to buy stocks.
Actual meaning of the Analysis.
Orange is prediction. I drew a potential path of the market, overall I expect it between the orange arrows. Purple and blue are based off trends that have already happened. I dont expect QQQ hitting the curve again, but as illustrated, if it does, expect it to push off.
Actual meaning of the Analysis.
Orange is prediction. I drew a potential path of the market, overall I expect it between the orange arrows. Purple and blue are based off trends that have already happened. I dont expect QQQ hitting the curve again, but as illustrated, if it does, expect it to push off.
Note
This is in line with my expectations, I am noticing that the sell off is quite steep and IF it hits the big curve, I expect a bounce of some sort probably on the scale of 2-3%. Currently about $20 off so it would need to drop another ~ 5-6%Note
We are within striking distance of a major bounce on the main curve.Note
I dont really feel it, given the recent momentum, but its just broken my line. I will be buying some short term calls
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