Invesco QQQ Trust, Series 1Updated QQQ Dancing on a High Wire $422.93: Golden Genesis fib and top?=
QQQ is dancing on a high wire, a Golden Genesis fib at $422.93
Failure here could indicate top is in, so this is a key level here.
Just below is a fib confluence at $418, last stop before SERIOUS dip.
It is PROBABLE that we orbit this fib for a while.
It is POSSIBLE to bounce here and keep going up.
It is PLAUSIBLE a bull trap / distribution is done.
Here is a snapshot of the Genesis Sequence for the Q's:
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Failure here could indicate top is in, so this is a key level here.
Just below is a fib confluence at $418, last stop before SERIOUS dip.
It is PROBABLE that we orbit this fib for a while.
It is POSSIBLE to bounce here and keep going up.
It is PLAUSIBLE a bull trap / distribution is done.
Here is a snapshot of the Genesis Sequence for the Q's:
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Note
Un Oh Just fell thru after a couple of "Pings" from the top side.
"Ping"=Exact ricochet from a fib that you can almost HEAR.
Now that we are below, I will be looking for a Ping from the underside next.
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Note
Back to the "Scene of the Crime" and then some Trip below Golden fib picked up speed
Middle East conflict hurt tech stocks and other high flyers.
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Zoom in (m5)
We see plenty of Pings on all of our fibs,
so now they are all alerted and energized.
Good news for Bulls:
- Dip so far looks corrective and not impulsive
Bad news for Bulls:
- Dip probably not over, so be wary of bounces for now.
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Note
Followup to last snap shot We may have bottomed yesterday at $413.18
Now back to the BIG BOSS golden fib at $422.93
Likely come back a bit, but watch for break soon.
Note
Follow up to last snapshot:We initially got above the Golden fib at 422.93,
but then came a new dip exactly to support at 418.40
then we look to have tested the two fibs around 422 .
Looks like we are good to go,
good to go to new highs that is,
test / retesting appears to be done.
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Trade active
PING
After wandering, we got a LOUD Ping on the Golden Genesis.
That is from "give me a ping Vasilly, One Ping only please".
That ping adds to our confidence in all of the sister fibs.
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So now we ar walking up the Covid fibs
Thus we should be VERY ALERT at $495.25
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.