$NDQ #QQQ $QQQ pulling a Wu-Tang patternlooking at the 1hr chart, there is a classic W pattern formation going on here. December was a tough month for tech, and looks to be finally recovering. This weeks moves show a break above the prior down channel, with tightly wound consolidation. TBH I see this going in either direction, but with the tax loss harvesting done for 2021, my money is on volume buy-ins this month, with a beginning of a reversal in March when tapering is ending and rates are set to go up.
NFA
Qqqforecast
Nasdaq Analysis 14.12.2021Hello Traders,
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QQQ - Nasdaq heading to find support on 100 MAHi All, my main 3 take-outs from this analysis are the following:
1- Price might be trying to find support at around 15400 where the 100 MA stands
2- In case the 100 MA will be broken, we always have a static ascending trendline at around 15100 which might reject the price as it happened several times in the past
3- Last support might be the dynamic support of the 200 MA, at around 14500, which I personally do not believe we'll be reaching
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
QQQ slipped below the 200 MA after a volatile week
QQQ closed Friday's session within the 383 and 378 trading zone below the 200 MA line. We a likely to see a test of 383 line in Monday's session. If 383 is taken out, 385 would be the next resistance. 380 and 378 are support levels to look out for if it fails at 383
QQQ Thoughts about a big price dropThese are my thoughts for QQQ
In yellow is the structure that is common in two places
In green is the extension from that structure
Both are very similar in length (time wise)
Using this we can apply it to the second "structure"
If we apply a big price drop (bars pattern) it shows a large wedge structure with three bottoms along the wedge.
Short / medium term this would be very Bearish. However, long term a formation like this is setting up price for big times.
The ultimate entry point if this plays out is along the bottom of the wedge (dotted line)
SVM after consolidation showing "HEAD & SHOULDERS" - ready for ^Silver and SVM has consolidated to new lows in 2021. Await FED printing program QE to float more QQQ.
SVM showing head and shoulders after retracing that should break upward from current position. Silver will need to get back to $25, or $28 range for really good up.
Just my opine, trade at your own risk as call for Jan in the money, or buy due to inflation of FED printing program. Hard to have $3.4+T budget without more paper...gold std long gone.
@Pokethebear Love to hear from the Metal Bears and Bulls.
$QQQInvesco QQQ is an exchange-traded fund that tracks the Nasdaq-100 Index™.
The Index includes the 100 largest non-financial companies listed on the Nasdaq based on market cap.
The Invesco QQQ Trust has been delivering superior returns for several years, easily outperforming SPY and other S&P 500 funds.
QQQ has been rising high for so long that it's only natural to wonder if it's due for a correction. Unless you count the very brief correction of 2020, tech stocks have been in a raging bull market for over a decade. QQQ - which tracks the NASDAQ-100 - has been a main beneficiary of that trend.
According to Invesco, the average bull market lasts 4.83 years.
QQQ has been mostly rising for more than twice that time.
History would tend to suggest that it's in for a possible correction.
So, lets take a look at the technicals.
QQQ is currently sitting in a upwards channel which ended up bouncing off support on the daily.
It’s a good idea to keep your eyes on this chart especially if price ends up breaking support or resistance which can give you a good idea of where the future will lie.
RSI recently out of oversold territory
MACD curling w/ a expectation of a continuation up.
Watchlist this.
QQQ low risk SHORT IS NOW GIVEN QQQ can now be ending a wave X up we should now see 341 in QQQ INTO CYCLE 10/16 PLUS OR MINUS 1 TD .I AM 100% IN CASH I covering the long TNX as well just now into my 1.62 target .I fear we maybe setup for a sharp sharp decline . I will post if I feel otherwise . BEST OF TRADES WAVETIMER
QQQ low risk long stop today openThe cart I am posting is the QQQ we now have a low risk long . based on trendline support and fib pullback at .382 . put/call has entered a zone as well . The McClellan oscillator and summation has NOT !!!!I i am in cash 95% and 5 %in calls still .I will remain in a 95% cash till oct 16 . I have stated that a major cycle top was due aug 17 to sept 6 and that a crash or very sharp drop into min date oct 4 to the 20 th focus date oct 16 panic cycle .is at a minimal been reached . I will post as the wave structure is setting up if we rally here to 361 and turn down under today low then we will be in a wave 3 of c down in the sp it would reach 4372/4376 and break today lowit would break in wave 3 of c has well
QQQ testing the $360 final support levelAs I had mentioned 8 days back on September 20th, QQQ closed almost exactly at $360 today (see the related post ). This is a very important level for the bulls to defend as it is the last level of long-term support for the QQQ based on the trend lines I have been tracking. A close of this week on Friday, October 1st below this lower support line could mean a larger and more extrapolated pullback to come in the weeks following.
However, based on my technical analysis, I see this market as over-sold and a short-term recovery is expected by the end of this week. In other words, I expect the QQQ will close above this $360 level by the end of this week.
Nasdaq Completes Super Cycle Wave 5 -with Fib Confluences GaloreIf you zoom out on the Nasdaq using a 13D chart, you'll see a clear 5 wave sequence having recently completed. This argument is bolstered by both wave 3 and wave 5 which are 1.618 extensions of wave 1. Wave 3 and Wave 5 are both identical in length. Using this Wave count you'll also see a myriad of confluent fib levels, extensions, etc; but I'm trying to spare you a convoluted chart.
To me this says we are at a super cycle top and have completed Grand Super Cycle wave 1. At the Nasdaq's recent all time high, we cleared the 2.618 of wave 1 by less than 2%.
If you even remotely respect the Elliott Wave guidelines,, you know what this means. There really isn't a downside limit (well, the all time lows around 50 in 1974) and this likely means we are entering a years or decades long Wave 2 correction.
Tech Boom 2.0Real estate interest rates that are lower than ever, federal reserve ruling a nuclear QE and printing unlimited amounts of cash- many believe it’s an upcoming inflation. Though what’s clear is that there is a vast amount of money right now fueling the economy. To put it simply, it’s a seller’s market for real estate. With all this cash floating around-where else would one put it? In the current stock market, we are in a time where the world is being digitalized right before our eyes. The next place to put your money you ask? Tech stocks. With Microsoft just being one of many to choose from.
QQQ prediction for few months laterHelloo traders, here is my analysis for the triple Q chart and I believe it will continue growing steadily in the long run but it’s volatility will keep being higher than previous years as it was this year. I believe if the stock market doesn’t crash in the upcoming early 2022 crisis stocks will survive:)