$14,600 Profit on TQQQ Swing Trade, What to look for next week. A deep technical analysis as to why I took profit on my 8000 shares of TQQQ and some mistakes I made on my trade that I could of done better.
- Also what to look for on Monday, Monday is likely a buying the dip opportunity day for the next move up on SPY and QQQ, i explained what we should be looking for to be buying in again.
- the weekly higher low is set and i will be playing off of it
- bulls are still in a weekly uptrend and now we have to change 4h and daily trend back to the bulls.
Qqqlong
HOW TO RIDE Your Profits FULLY - 12 EMA BULL TRENDING $QQQ $SPYYesterday I talked about how bears had no follow though at market open and bulls took over after we broke above resistance and that we will very likely get another bull move today higher.
- Both SPY & QQQ were trending on the 12 EMA super strong and did not break below it at all
- bull 100% comfortable holding their positions throughout the entire day with zero signs of any red flags so far
- likely due for a 4h consolidation i'm looking for a 5m or 15m oversold bounce play Monday/Tuesday and ride continue to ride the bull move up until price action tells me otherwise.
- took some profit off my TQQQ position at 23.38, still holding some shares will likely add them back on a consolidation for another move up.
The Impact of Interest Rates on the Stock MarketWe have the 50 EMA at 295 and the 34 EMA at 293. The fact that the price is currently trading above both of these EMAs suggests a bullish trend in the market. This means that buyers have been in control and pushing the price higher.
One important concept to keep in mind when trading with EMAs is the idea of support and resistance. In an uptrend, the EMA can act as a level of support, as we saw with the 34 EMA at 293. Traders can look for buying opportunities when the price pulls back to this support level and starts to bounce back up.
Another concept to consider is the idea of trend following. Since the price is currently trading above both the 50 EMA and 34 EMA, traders may look to enter long positions in the direction of the trend. This means looking for buying opportunities and avoiding selling opportunities.
However, it's important to note that no trading strategy is foolproof, and there are always risks involved. Traders should always use proper risk management techniques, such as setting stop losses, to protect against potential losses.
In summary, the trading situation for QQQ suggests a bullish trend in the market, with the price currently trading above both the 50 EMA and 34 EMA. Traders may look for buying opportunities when the price pulls back to the EMA support levels, and should always use proper risk management techniques when making trading decisions.
$SPY & $QQQ Market BEARS NO FOLLOW Through, V shaped bounceYesterday i talked about 3 scenarios where one of them was we break below the double bottom support at 290 area for QQQ and bears have no follow through and we V shape.
Essentially its exactly what happened bears had a nice overnight drop and pre-market control, the moment market opened bulls took over filled the gap within the first 30minutes.
- Red flag for bears was when we re-tested that 290 support becoming resistance bears couldn't bring the price down to new low of the day, we hovered close to it and re-tested again and broke bull back above it. That's when shorts started covering here and we get a nice move up.
- looking for a 4H trend change to the bulls to have any meaningful bull follow through.
- still holding my TQQQ $21.57 entry.
QQQ Could See A Bounce Very SoonThe Invesco QQQ Trust has had a good run up. What we're seeing now is a normal 5% pullback following a 20% gain.
In the most bullish scenario, we've already seen the bottom of this correction. Prices have reached the first zone's support line, and we're already witnessing a tiny recovery on the lower timeframes. The most bullish case is still valid if we touch the lower trendline. of the first zone.
Another scenario is a bigger correction, giving back half of the latest uptrend.
QQQ Cup & Handle Set-UpQQQ looks bullish, classic C&H on micro time frame - Volume matches pattern
4:1 Profit potential. TQQQ for 3xLeverage= 18%-20% possible profit / 4-5% possible losses
***Be Careful -Negative CPI data on Thursday will cancel any bullish moves - lots of volatility & market manipulation to finish this week
Everyone is so Bearish right now.. this is the contrarian move... watch out for the composite man or woman
Proper entry: wait for break above resistance with large buying volume - *set your stop losses
QQQ Nasdaq 100 ETF Santa Rally U.S. stocks tend to rise during the Santa Claus rally period.
The Santa Rally is considered the last five trading sessions of the year and first two of the new year.
Since 1950, the S&P 500 has traded higher 78% of the time during the Santa rally period for an average gain of 1.3%.
My price target for QQQ Nasdaq 100 ETF is $273.
Looking forward to read your opinion about it.
$QQQ (Nasdaq 100) – Similar Range Breakout From July 2022 May BeThe tech-heavy $QQQ surged 8.84% last week, compared with the S&P 500's 5.9% in its sharpest weekly rally of the year. This welcome inflation news, combined with a huge drop in the dollar and market rates, launched an epic rally. The $QQQ for its part soared 7.4% on Thursday alone, reclaiming its 10,20 & 50-day moving averages within the single session. Many of the beaten-up growth stocks made double-digit percentage moves, including Amazon. ($AMZN), but just about every stock came along for the CPI ride.
$QQQ have currently broke out of a consolidated 6 weeks range in similar fashion to to July 2022 period. During the time, $QQQ staged a continuous rally along its rising 10/20-day moving averages towards its medium term downtrend line.
The support level to watch for $QQQ this week is revised up to 270, undercutting its current 10/20-day moving averages.
Bull Case: Reclaim above 310 declining 20-day moving average.
Bear Case: Breakdown of 270 level, undercutting its current 10/20-day moving averages.. The next support level is at 260.
QQQ weekly bullish hammer at the end of wave 5 wave 5 downtrendOrder BUY QQQ NASDAQ.NMS Stop 274.21 LMT 274.21 will be automatically canceled at 20230401 01:00:00 EST
QQQ weekly bullish hammer at the end of wave 5 wave 5 downtrend. Either ABC correction to MA 100 or beginning of uptrend. My only concern we didn't panic and capitulate yet, so probably ABC correction.
TLT island bottomWow! I certainly did not expect this, but it should be in everyones best interest to flip long for short to mid term. TLT showing signs of a potential bottom (at best a local bottom). Island bottoms are super bullish and SHOULD NOT be faded. Pick your favorite meme stocks and go all-in longs. I think this is a bigger deal than most people think, especially before earnings and GDP news. Obviously this could flip on a dime; however, if we see any continuation our of this in the next couple days, I'd get ready for a fairly large short squeeze. STAY NIMBLE FOLKS
My favorite longs are:
TSLA
COIN
AMC
Q's (QQQ) Look Right for a...POP!Q's (QQQ) Look Right for a...POP!
I spy a falling wedge and a higher low on the RSI indicator!!! Q's look ripe for a pop! It'll be nice if we open above 275.7 on Monday (Oct. 24, 2022).
Also, the 5MA crossed up the 10MA on the daily and is approaching the 20MA.
Therefore, my bias on QQQ is bullish.
Peace, Love & Abundance,
MrALtrades00
Long on NAS100 until NFP?As per Fed's Daly remarks states that the US needs further rate hikes to combat inflation hence why this current rally on indices and today's miss on JOLTS jobs report. Markets are continually providing volatility which equates to more opportunities for all market instruments. We have been breaking structure to the upside on NAS100 since Monday and all throughout the asian session. I've adapted a short term sentiment to bullish with a final TP 11760.1 I do believe we will see bearish plays come back in on NFP day.
I will act accordingly to what the market shows.
QQQ Nasdaq 100 ETF Double Bottom on Strong SupportIf you haven`t bought Puts when Jerome Powell was saying that "U.S. businesses will have to endure some pain":
Then you should know that the QQQ etf i ready for a technical rebound.
A Technical Rebound refers to a recovery from a prior period of losses when technical signals indicate that the move was oversold.
In this case, the Relative Strength Index momentum indicator of QQQ Nasdaq 100 ETF is at 24.75 on a Double Bottom Reversal Chart Pattern and Strong Support.
A double bottom is a reversal chart pattern in technical analysis that describes a change in trend.
Even though i am overall bearish on the economy, buying a strong financial instrument when the RSI is below 30, would make a case for a potential short term reversal.
My ultimate price target is $237, but for now i am bullish .
Looking forward to read your opinion about it.
September 30, 2022 - Marathon Digital Holdings, Inc. - MARA - This is a quick update on my investment in Marathon Digital Holdings, Inc. -
This video shares my experience trading MARA as a retail investor.
The markets have shown to be quite volatile in the past weeks and many people are speculating that due to inflation, negative GDP growth and the FED's policies along with the repercussions of COVID lock down and the UKRAINE war with RUSSIA has led to an unstable stock market and higher energy and food costs to the average individual around the world.
To combat this, I think it is a great skill to learn how to make $ trading stocks, crypto, ETF's and options.
Of course, there are risks involved and this is not financial advice.
I am simply providing my experience trading MARA - note I have already made profits in the past on this stock, and I started investing in MARA at $6.50.
Please smash the boost button if you like this content and I will continue providing updates on my position.
$QQQ GAP FILL Needed -Potential JUMP UP on 9/30$QQQ Potential JUMP UP 9/30 Comparing to past trends,
you'll notice on June 16th a similar trend happened and $QQQ was at the $269 level. On june 16th, there was a massive drop and June 17th, a massive spike the following day.
I think this could happen again as we are at the bottom of those lows.
Not finanical adivce as always.
What are your thoughts?
Thanks,
Kelly
p.s. Inverted cup not fully forrmed, so i didn't go over it. :P
$QQQ Bearish Rectangle on 15min $QQQ Bearish Rectangle on 15min ect.
As you can see a clear breakdown from today's high, in my analysis you would think it was either bear pennant or a bull flag, however, there are multiple points where the price came down to consolidate in a straight manner similar to other patterns but not the same. In my opinion, consolidation naturally is there for higher highs, in which a smart investor would wait til the dust settles and get in, in which you did see towards the close today. However, in this situation, i think that tomorrow, we are going to either see a further breakdown of QQQ lows headed back to 1st Support: $273.30 in the morning and towards afternoon after 11am or 1pm, see a jump. Obviously, this can go completely opposite direction of how the market goes, but just my view point on things on where things could stand.
Let me know your thoughts!
Support and resistances:
1st Support: $273.30
1st Resistance: $278.42
2nd support: $271.54
2nd Resistance: $281.98
Thanks,
Kelly :)