We're at the top of channel for our 9/3 downward channel, and C wave length at 1.618 could take us to the $107 range.
But the elections broke us out of channel and with 4 green days in a row could be pointing up at $207
If we are up at 10:30am Monday I'm buying more.
If we're down, I'll be waiting on a nice drop to buy more, and considering selling what I have.
I'm a big long term bull on TQQQ having done well with it for 5 years, but short term things are pretty interesting.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
But the elections broke us out of channel and with 4 green days in a row could be pointing up at $207
If we are up at 10:30am Monday I'm buying more.
If we're down, I'll be waiting on a nice drop to buy more, and considering selling what I have.
I'm a big long term bull on TQQQ having done well with it for 5 years, but short term things are pretty interesting.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Note
I suspect some election euphoria will drive us up instead of down.MACD started pointing up and RSI doesn't show danger yet, so there's room to the upside. The 50/200 SMA cross on the 1 hour chart looks bullish short term.
A 4 hour chart shows a possible Wave 3 starting, but also indicated MACD heading back down and RSI overbought.
Note
$107 scenario is looking more likely.Possible 4% down move tomorrow on QQQ
Note
Revising Price target before next big move. We seem to be consolidating. 3 weeks in any direction.
I'm cautiously optimistic we'll bounce up off the Red support line, but will be watching closely before going in too big.
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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.