#NASDAQ $QQQ headed for 50% retrace to middle of weekly BBQQQ looks like it has put a bottom in and headed for a 50% Fibonacci retrace to $165.5. We should now find support at $154 prior to a run higher over the coming weeks.
Qqqlong
Long on QQQ The market has been very choppy lately with lots uncertainty. The qqq was unable to make new highs on the previous move up. although this may be true, we can still see a potential trade to the upside with a reasonable stop loss below. The qqq has pulled back to the 61.8 Fibonacci retracement level. also it has some support which was respected twice last week. For this trade, I will go long at the end of the day on a bullish close and strong volume for a risk reward ration of about 1 to 2.
The MACD is also showing signs that there may be a trend reversal in the near future. So I will take a small position in SQQQ to protect against any large moves to the downside.
NASDAQ since 1985 & forward predictions for 2018, 2019, 2020Steady, stable growth and more to come. Aside from the tech bubble and the 2008 financial crisis, the nasdaq has followed as much of a nice steady growth rate as you could reasonably expect, and the recent years have been no exception.
Remember that compound growth is exponential. That's why logarithmic charts are so important for longer time frames! Otherwise any compound growth would look like a giant bubble about to pop and you'd be misled into missing out on easy money because of an elementary mistake.
Going forward, this has no reason to end now and i'll be staying bullish until a reason comes up. 2018 should be a decent year and 2019 will lead the price to get towards the higher end of the long-term trend. For the end of 2019 and 2020: Either cryptocurrencies REALLY take off and crypto-based companies take over the nasdaq and we enter a giant crypto-based bubble, or we see a drop down to the lower part of the trend by about 30%. Probably the latter but my imagination prefers cryptogeddon :D
Remember why the index-fund bogleheads are so cocky: you can never predict the next crash very long before it happens and if you try, you lose 90% of the time. People have been predicting a nasdaq crash since 2012. Best thing to do is go long until there's a reason not to - and for us traders, it's to take the long approach in trades, look for the bullish entries not the bearish entries, and wait for a REASON not to. As you can see from looking at the logarithmic chart, the price is not a reason to be bearish. Price is still just following the trend.
I'm selling at 7600. easy 8% gain. Good future ahead, here's whyIf you zoom out on the nasdaq price it looks like a bubble about to pop.
1. That's why we use logarithmic charts for long term stuff. All compound growth looks like that! Compound growth is exponential. Don't post your bearish stuff on tradingview if you don't understand that.
2. Look at the change in price to earnings. No significant increase. In the tech bubble the average p/e for the nasdaq was 200+. Now, it's 25. It's not increased much in recent years and the average p/e for the s&p is 24 now. The nasdaq is reasonably priced. Yes, it looks like a giant bubble, but earnings have followed suit : this price rise is ABSENT OF SPECULATION and entirely justified . price has risen IN LINE WITH EARNINGS. the reason for the huge price rise is that tech companies have been outperforming significantly!
Any significant price drop (5% or more) will be a buying opportunity until the economic fundamentals change and the future of US companies starts to look less stable.
3. Tech took a hit from the trade war fears for no good reason. that was the buying opportunity of the year.
Sell at 7600 because RSI will probably be about 80 then, macd approaching the top too, and price reaching to the top of the trendline. Wait for a few % drop in price and a better macd/rsi to get back in. Easy money.
If you're bearish on nasdaq, please tell me why.
