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Qqqshort

QQQ Short Idea Hey everyone. Few thoughts on the previous moves on QQQ this past week. Looks like from our previous swing low to 297 in early March we have completed another swing high to 324 now in a corrective pattern moving down. Regarding fib levels, we had a meaningful bounce off of the 618 fib coming above the 38 fib. Previously we've seen this shoot up past the 23 fib before coming down to test the 786 fib... Of course, there is a potential to break this with more upset momentum but as it struggles around the 200 EMA + talk of a pullback in the tech sector overall + the Suez canal issue we may be set to visit 302-305 as soon as 3/31. On a more macro scale, QQQ movement since November peaked at 338 in February... moving down to bounce off the 50 fib level of 297 in early March. We then shot up past the 23 fib and are now sitting right above the 38fib. I suspect we will still need to see our move down to the 618 fib (~294) before seeing any meaningful potential upside movement. Thanks and let me know your thoughts!
NASDAQ:QQQShort
by youssefgg
TQQQ Next stop 95! Charts don't lie!!Some great 5% shorts the last 2 days. Rinse and repeat. Tomorrow we are looking for it to touch at least 100 maybe 95. The big guys that move the market are slowly bringing this back down to reality. You can see the green down candles, the last two days. Definitely a pullback, but could be more. I marked two key areas on the chart that will likely be hit tomorrow (price point and RSI). Charts don't lie, so do not be fooled by the big boys manipulating your thoughts through the media and forums. Be careful what you read. There is most likely a motive. This year is a perfect example. Try learning before paying for a service. To win you have to learn and be disciplined. Please do your own due diligence as this short is for my current situation. Question or comments are welcome. Trade to Win!! Protect your profits!! Hard work = Good Luck
NASDAQ:TQQQShort
by PETEYboy
7
short nasdaq, extreme divergencesNsadaq looks to of finally put in a short term top here for some profit taking a swing shorts if this wedge break holds. We can see higher prices being made with lower MACDH and RSI on the hourly charts good for some swing trading. Stop at 13700 on the US100 chart. There are some levels of support so we have to be careful and take swing trades within 5 and 15 min charts on the way down. I am of the opinion though the tech is way overbought and we might see some rotation into industrials as we come out of lockdown. So we may see a daily top short term. Press the follow tab above and to receive updates to this trade as we go along.
UShort
by breakoutfakeout
2
Triple QQQ Triple Color Fractal Frenzy I started looking back for areas in time where the volume profile specifically looked very similar. We've kind of got an interesting volume profile going on right now with recently almost all buying volume and a very clean diminishing buying profile followed by a sudden approximately double selling volume from the next most recent candle. I pulled those fractals I found where the volume profiles looked the most similar and scaled them to fit the most recent moves. The dates are kinda fuzzy cuz I wasnt paying close attention but the general time frames are there if you want to look. The yellow fractal seems interesting as once I scaled it to fit the most recent activity its peak hits the channel and its pull back lands almost right on the dotted support line. Which fractal will it be!
NASDAQ:QQQ
by TraderCaps
1
QQQ continues descent to September lowsQQQ, along with the rest of the market, has been in a bearish trend since mid-October. The factors that pushed this bear trend, namely the covid third wave and lack of another fiscal stimulus remain the key factors. As such there's no stopping the market until the next major support levels formed in the September market decline. For QQQ that gives us a target around $260 There should be an opportunity for entry via a continued correction from Friday's dip until 271.80 or so. But the pace of the move is unpredictable and so is the timing which may happen pre-market. Stop is at 50% of prior Thursday/Friday's move at $273. Happy Trading!
NASDAQ:QQQShort
by sammyyr
Nasdaq could see some buying BEFORE BEAR MARKET! Nasdaq was the leading index this year and we found out why pretty recently. The FAANG index was being propped up by nonother than SoftBank with a $5Bn options positions on big tech. SoftBank got their hands on OTM calls for big Tech which did a few things: 1) Forced the options market makers to hedge the position against them meaning they had to buy the stocks. Tying up about $50 Bn in shares on the big Tech companies. This alone pushed US Tech stock prices higher. 2) Created interest in order flow for large traders that saw the options interest and the transaction quantity somewhere OTM on big Tech which caused buying to take advantage of the potential move higher from the big fish. 3) Caused a rally in tech and piqued the interest of a lot of traders that saw tech stocks rallying, jumping in blindly, or calculated entries for the continued push higher. Which means the recent sell off was profit-taking from Tech and understanding what had happened and selling. To return major stocks to "value" That caused the Nasdaq to drop nearly 15% from its highs and it seems that there is more downside to come out even though it seems that the support is being held up for now. Support is now at $260 and the 100-day moving average is very nearby. If this level breaks we're going to see a temporary bear market in the Nasdaq, as we saw the year prior. We could see a pop into $280 on QQQ before we get the downside though! There is a key resistance there. under $260 and the 100-day MA we will see a big sell stop run into the prior broken top and volume profile block. The volume is worth noting as well, it's decreasing on every rally. Most recent rally at least, with big sell volume. this is a bear sign. This is an idea, for educational purposes, that doesn't constitute investment or trading advice.
NASDAQ:QQQShort
by TRADEPROAcademy
2
QQQ All-Time LevelsIn an uncertain market it is hard to find footing. NASDAQ:QQQ is currently testing a jumpy support level right now. The biggest factors that will play into the outlook of the NASDAQ and the market as a whole is government stimulus and the upcoming election. Many analysts are comparing this years election to Gore-Bush election and the uncertainty could be detrimental for our market. If support begins to break and there is no positive news on a COVID vaccine, QQQ could face some major downside before leveling out. Many analysts have also compared the boom in tech "post-COVID" to the .com bubble in 1999. Furthermore, the news of Europe begining to take preventative measures is creating more fear globally. If the market doesn't quickly move to fill the gap down or support is broken there is room for a lot more sell-off. It's a long way down.
NASDAQ:QQQShort
by crawfordpaul