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TQQQ

MU: Micron Keeps Moving Up - Possible TargetsMicron chart keeps rallying towards its earnings day on 09/29/2020 (confirmed). Trading at $47.80, the price is close to its second target of $48.13 (50% Fib level). Potential higher targets are at $51.46 (78.6%) and $54 (100%) levels. Scenario analysis: ADP employment numbers to be reported on Sept 3rd may help with further short-term price advancement, if positive. However, September has been a volatile month historically. A broader pull back in major indices is possible between next week and end of this month. If such correction occurs, MU chart may pull back as well, possibly down to $44 level, to resume its rally toward price levels above $50 with general market move higher in October - November time frame. If MU chart makes its way to $51 level before the earnings, that could be a good opportunity to book the profits and reassess possible price movements at that time.
NASDAQ:MU
by tradexchart
NQ1! Nasdaq futures analysis (resistance & supp, Elliott) 01-09Today's movement is similar to yesterday's: ->Force up at the beginning ->Finds important resistance and retreats heavily (yesterday it was relatively slow, today relatively fast) ->It then retested and defeated the previous resistance (both time with speed) ->It ends market hours moving up again Therefore the analysis is not very different from yesterday's: ->We could see important movement up tomorrow However, from an Elliott perspective: ->The important retracements of 31-08 and 01-09 are different in nature (one slow, one fast) ->They could be showing waves 1, 2, 3 and 4 of a wave 3. ->Today's market hours up movement could be wave 5 ->In that case we could see a wave 4, that could find important support and therefore behave like the one in 26/7-08 What are your thoughts? Thanks for reading, thanks for commenting
CME_MINI:NQ1!Long
by tandroide
NDX to SPX ratio - tech wreck 2.0?Keep watch of this ratio-We're looking like 1999 based on this ratio. Tech to go hyper before tech wreck 2.0? The recipe is slightly different but it's starting to smell the same. Even if this plays out, we should see the NASDAQ cool off & consolidate for a bit..perhaps we'll see some weakness going to the Fall prior to election with increased volatility in the markets. I'm looking for some type of cycle trough in the markets in the next 2-3 months. While I seriously doubt it's going to be a lower low (than March low), it's not off the table. Cycle lows occur very quickly whereas cycle peaks roll & roll. March is a great example of just how quickly cycle troughs can occur. We witnessed the fastest & deepest drop in market history this year which proved to be a fantastic buying opportunity. Let's see what the markets offers next. Another correction in markets might be met with even more life-support from the Fed.
TVC:NDQ
by gghsusa
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