TQQQ Big Move Up Likely - MFI+VOL+EWAVE
A big move one way or the other looks to be in the making
The volume today on TQQQ was higher than it's been since 10/30
Looking at similar horizontal days of volume and correlating with MFI, only 3 days in recent history match and they all precede very large rises.
Note the intersection: Vertical Purple lines, MFI Low, and Volume High
EWAVE says we just did a very short ABC after a 5 part down.
Confirmation should come in the next few days.
QQQ dropping below 290 into prior 2008-2020 channel would invalidate and point to a 25+% correction
The volume today on TQQQ was higher than it's been since 10/30
Looking at similar horizontal days of volume and correlating with MFI, only 3 days in recent history match and they all precede very large rises.
Note the intersection: Vertical Purple lines, MFI Low, and Volume High
EWAVE says we just did a very short ABC after a 5 part down.
Confirmation should come in the next few days.
QQQ dropping below 290 into prior 2008-2020 channel would invalidate and point to a 25+% correction
Note
Took another 4-13 days to start up in each of the three instances.Couldn't find a volume at these ranges prior to 2/2020
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Disclaimer
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.