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QQQ

QQQ Thursday Gap Up ReversalShort-term & small sample, but an interesting pattern nonetheless... If we look back at similar events to Thursday's action, they've all been short-term tops in the market. We're looking at: (1) Gap up open on a Thursday; (2) Bearish reversal closing near the lows of the day; (3) Increased Volume from the prior day(s); (4) Preceded by a good run in the market. I think it's worth noting, although I'm not sure the market dynamic behind it, that these recent short-term tops have all occurred on a Thursday. So seeing similar-type action this past Thursday is sending up a short-term cautionary signal, especially after such a strong runup over the last few weeks. I want to emphasize 'short-term' though, because the long-term trend is still very much in tact. It may also be worth noting the lack of breadth under the hood as an additional short-term cautionary sign, although there are certain areas and groups that have been participating... it's been very much a stock picker's type of environment.
NASDAQ:QQQ
by apaqu
2024-06-17 - a weekly price action market recap and outlook - nqGood Evening and I hope you are well. Nasdaq. 20000. What else can you say. The AI bubble will be in the history books and Michael Lewis will write a book about the insanity that’s going on. I sincerely hope they bring the exact cast back from the big short. You can quote me on this one. Over the next months, you will read about companies cutting back on spending, especially on AI since it’s expensive af and not bringing in any money. Nvidia will probably be halved somewhere in 2025/2026 so stock should hit around 65ish. Monthly ema is at 60. I looked that up after I wrote the halving part. comment: Let’s review this weekly painting, now that we finally reached 20000. All bullish targets are met, the upper bull channel is broken and I expect this to be a bull trap rather than a breakout above with follow through. If nq trades above 20100, I am obviously wrong. Last two times we reached new highs we sold off for a couple of weeks and this is what I expect this time as well. Market will most likely pull back from here and then retest the ath again before we trade back to the smaller bull channel around 18500 or lower. current market cycle: 20000. Get a tattoo of that. key levels: 18000 - 20000 bull case: Bulls outdid themselves on this one. One for the history books. Can they get higher? Sure but I doubt it. Have nothing for them in this section. Move on. Invalidation is below 19000. bear case: Let’s see if they appear tomorrow. We should see a decent pullback to at least 19500 over the next days, follow by a retest of the ath, which should fail. A bigger two-legged correction should get us down to 18500 over the next days/weeks. On the bigger time frame all my bullish targets are met and all wave series ended between 19000 and 20000. Got nothing for the bulls here. Invalidation is above 20100. short term: Who buy’s this above 20000? Let’s see tomorrow. If they actually do, no idea where it can go. I expect a pullback to 19500 and the daily 20ema. medium-long term: This climactic blow off top was the grand finale of this bull trend. Perfect break above multiple patterns which I expect is a bull trap and we will test the various support lines next before the new bear trend will unfold over the next 3-9 months. current swing trade: Short 20000 until bulls manage to break 20100 or big profits. I will take profits and add to this position along the way. Chart update: This is my best guess on how the next 3-9 months will play out. Gave all the reasons above.
CME_MINI:MNQ1!Short
by priceactiontds
3
Opened (IRA): QQQ August 16th 420 Monied Covered Call... for a 411.80 debit. Comments: (Late Post). Sold the -75 call against a one lot to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 411.80 Max Profit: 8.20 ($820) ROC at Max: 1.99% ROC at 50% Max: 1.00% Will generally look to take profit at 50% max on the entire setup (stock + short call) as a unit, but won't hesitate to roll out the short call if in profit to keep my break even at or near where the underlying is currently trading.
NASDAQ:QQQLong
by NaughtyPines
QQQ Will Collapse! SELL! My dear friends, QQQ looks like it will make a good move, and here are the details: The market is trading on 479.18 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 463.82 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
NASDAQ:QQQShort
by AnabelSignals
1
Natural Gas, Bitcoin & QQQ : Whats the next trade?Natural GAs has had a nice pullback over the last few days. Are we going to see this correction go deeper than the last pullback? Potentially we are observing a failed breakout on the daily chart. Bitcoin: has triggered bearish formations on the hourly chart. Sitting right at intermediate support, BTC needs to hold the 50MA or run the risk of flushing lower. BTC is still chopping in a sideways range that favors lower price action until we break the neckline. QQQ / Nasdaq : In the strongest uptrend. This looks likely to push a bit higher but its nearing major resistance in a very extended move.
AMEX:KRE
by Trading-Capital
Dow 'Big Yikes' moment as it gravely lags behind BigTech rallyA stock-market rally concentrated on an ever-narrowing cohort of tech stocks is leaving the Dow Jones Industrial Average behind as the Nasdaq Composite (IXIC), Nasdaq-100 hit records, making investors nervous. The scope of the divergence on Wednesday, with the Nasdaq-100 finishing posting a 1.33% gain versus a 0.09% fall for the Dow DJIA was particularly troubling. This is quite rare moment as the Dow posted a daily close more than 1.0 percentage points below Nasdaq-100 Index and more than 0.9% below S&P500 Index. That is a 'Big Yikes' moment. It's largely a statement on very bad breadth of the market, as we're incredibly reliant on just a very small number of names. The rally more recently, he noted, has been driven largely by longtime AI favorite Nvidia Corp. (NVDA), and Apple Inc. (AAPL), which has surged nearly 9% this week as it outlined its own plans to add AI to its products. The Super concentration is manifested in any number of breadth statistics, which track how many stocks in an index are participating in a move, including the percentage of stocks at 52-week highs versus 52-week lows and the percentage above their 200-day moving average. For example, just one component of SP500 Index - that is Nvidia.. had accounted for 35% of the increase in the S&P 500's market cap in 2024. Such a high concentration implies that if NVIDIA continues to rise, then things are fine and dandy. But if it starts to decline, then the market will be hit hard. Overall, presidential-election years tend to be strong ones for the market, particularly in the fourth quarter. And years that begin strong also tend to hold up. But everything could end, earlier or later. The main chart is the ratio between Nasdaq-100 (NDX) and Dow Jones (DJI) Indices. That indicates that June quarter posting an extremely new historical high between these two Major indices, first time over the past 25 years. A very historical times we live.
NASDAQ:NDX
by Pandorra
$TSLA Range Bound Trade?NASDAQ:TSLA I took a trading position in this yesterday at $169.55. The idea was that once I saw price rejection after the low of 167.41, it is a reversal play. There is still a good deal of resistance around that blue horizontal line. My idea or thought is that this has been range bound for some time as such it very well could go to that resistance area around $179 which is about a 5% move from my entry. I plan on selling some into that area and then decide to hold or sale if does or does not climb over that area. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:TSLALong
by jaxdog
BIG MOVE! SHORTS TRAPPED! What's next?Based on the chart analysis, the rising wedge pattern signals a likely bearish correction in the short term, with the price potentially testing the 0.618 Fibonacci retracement level around $518.36 as a key support. However, the Elliott Wave projection suggests a bullish reversal toward point (C) if support holds, indicating a medium-term upward move. Traders should watch for confirmation of support at the 0.618 level and look for signs of reversal to enter long positions, targeting the previous high around $532.99 and beyond. We must stay above $524.71 to escape this wedge channel and maintain the potential for an upward breakout. Maintain vigilance for a break below the 0.618 retracement, which could signal further downside risk. Leave a comment of what you think about where the market is heading!
AMEX:SPY
by MysticMads
5
$MASI Cup with Handle Formation?NASDAQ:MASI This one has been in a longer-term downtrend which broke out in March then failed. When looking at the weekly chart, it looks to me that this latest formation can be classified as a Cup w/Handle. In addition to the Cup w/Handle formation it has come down, tested and bounced off the 40 Week MA (White line) which seems to have acted as support. I had an alert on the higher downtrend line as a trigger for a breakout of the Cup w/ Handle formation. It triggered today so I have opened a ½ size position with a stop on a close below the 40 Week MA. Which is a 4% stop. Now I can only manage risk, but I will look to add on follow through. All TBD. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:MASILong
by jaxdog
$CSLR Turn Around PlayNASDAQ:CSLR I have been long this for about 2 weeks adding along the way. This is a complete turn around play as there is a new CEO, COO and management team appointed. They have managed to renegotiated debt structure, most for equity swaps. This is one of my rare situations that I have not set a stop as this could be a wild ride. So far, on average I'm up over 50% on averages up shares. I will be looking to add on just about any pullback. My idea your money, do the research to see if the risk meets your trading style.
NASDAQ:CSLRLong
by jaxdog
QQQ still confined to the trading channel since 2010The blue trading channel has been a very reliable resistance since 2010. You can see the many times that it has confined price action, only being broken during the COVID bubble. My guess is that it will continue to be resistance. We will likely see a repeat of the action from 2015 and 2018 where price will slowly work sideways but ever so slightly higher with numerous pullbacks until we see a large pullback to the support side of the channel. Here is what the action looks like on the 1D. You can really see the price trying to break out, but as we saw back in April, it ultimately lost and we had a nice pullback to buy into.
NASDAQ:QQQLong
by Dr_Roboto
$TSLA Right at Resistance.NASDAQ:TSLA I had an alert set on the Area of Resistance Line on this chart. It triggered this morning and I have taken a ½ size position in anticipation of that becoming support. I do not know if it will play out that way so I have a stop under the 50 DMA (red) which would a 4% position risk. Should it move up and over the resistance area I will look to add. All TBD. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:TSLALong
by jaxdog