QQQ rangbound bearish bias SHORT
Updated
QQQ on the daily chart hit a hpivot high on 3/21 followed by a slight downtrend of 1-1.5 %
overall this past week. Buying volumes are low. The Price Momentum Oscillator has
reversed to bearish and the Raltive Trend Index has entered the chop zone and is heading
bearish. Price is presently one standard deviation above the intermediate-term anchored
VWAP. Reversion to the mean suggests another 1% move downside before VWAP support
exerts itself. Price is compressing in a symmetrical triangle. Accordingly, I am expecting
a move down before a potential reversal in a VWAP bounce from that support.
overall this past week. Buying volumes are low. The Price Momentum Oscillator has
reversed to bearish and the Raltive Trend Index has entered the chop zone and is heading
bearish. Price is presently one standard deviation above the intermediate-term anchored
VWAP. Reversion to the mean suggests another 1% move downside before VWAP support
exerts itself. Price is compressing in a symmetrical triangle. Accordingly, I am expecting
a move down before a potential reversal in a VWAP bounce from that support.
Trade closed: target reached
QQQ fell as expected. Put option paid 40%. Now is the time to close an tradelong instead
Comment
QQQ retraced up from a downtrend after a rise yesterday. The supertrend is bearishand most certainly hot inflation reporting fortifies the trend down.
Comment
Comment
QQQ to correct upside going long with TQQQ Comment
QQQ had a big move up today; expecting a move down due to profit taking for the end of the week,Trade active
PUT OPTIONS moving well today. expecting buying to covr tomorrow to collect profits on zero or next day puts. Disclaimer
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