TQQQ
"Ball" market! Some creative wealthy institutions created a "BALLs and PENNIS" pattern :D, which is about to ejaculate in some direction.
One for bull, one for bearSPY bulls came out Sunday night but are right back around flat with Friday's close now pre-market. If XLK breaks bullish out of it's tightening hourly equilibrium, I like XLK (TQQQ) and AAPL bullish as per daily charts. If XLK breaks bearish out of it's equilibrium, NVDA has been a much weaker name and I like it for a bear play with first support to break at 248.80. SQQQ the 3x bear would also be a play there on a bear break.
EW corrective wave after an impulsive wave. EW corrective wave after an impulsive wave. In the middle we have a nice head an should der formation. Monthly and weeks charts left a doji candle. No need to stand against the trend.
S&P500 (and other major US Market/ETF) Update: Triangle PossibleThe S&P 500, along with other major US market indices and ETFs, is setting up the completion of a triangle correction that could mean a bit more short-term downside before a thrust upward to complete the final subwave of th bull market (the 5 of the 5). A major correction should be expected immediately thereafter.
TQQQ: near-term US market correction has a bit more downside3x-levered Nasdaq ETF (TQQQ) is in on the C leg of an expanded flat correction.
Nasdaq is bottoming in corrective move downThis pattern looks like a corrective move down off the top made on March 13th.
Once that current wave B of 5 down bottoms, we should see a strong five wave rally to new highs.
The hard stop is the low of the wave 4 down at 6,634
NDX Nasdaq 100 QQQ Possible Trading zoneI believe we may be near a market top, if you are like me you may be wondering where to sell. This is my attempt to analyze the current moves. I do think that the stock market is nearly in danger but that being said, it is definitely not a certainty that we have hit the top. I am not counting on any new highs though because in my opinion, we have already hit the high. I am looking for a bounce upwards from here which may occur over the next couple of weeks.
In this analysis I have put some potential buy and sell areas, please see the chart. This is a 1 hour candle chart.
I do think if we make a new short term low point it puts us in the danger zone. This does not mean I am advising you to sell - or to buy at that matter. It may still bounce back up. But if we are going that low, it is seriously concerning in my opinion. That being said, buying low is always safer than buying high, right? And if we just have a quick dip into the danger zone and it bounces above, it is not so worrisome as getting a 1 day candle close inside it.
My longer term outlook for stocks is negative though. Even if we bounce back, I expect sometime this year to have a real crash, if not now. Be very careful for long positions. This is all just my opinion.
What are your thoughts? I would love to hear from you.
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This is not advice to buy or to sell. You should do your own research and make your own investment decisions.
TQQQ this month.Looking at the week ahead for TQQQ I think there is still some upside before this ascending broadening wedge turns bearish. For aggressive traders I would wait for a close above the blue trend line, but be ready for the price to bounce off of the yellow trend line. For more conservative traders wait for a close above the yellow or better yet the green trend line.
TQQQ - A personal favorite ETFTQQQ is 3x leveraged, and tracks 100 of the largest non-financial companies. It has quickly become on of my personal favorite ETFs with its performance, and the January effect is fueling the fire. It is important to note that TQQQ is reset daily, so it may not be a great long-term hold, despite its apparent performance.
RSI is showing overbought - but as long as new money is flowing into the market, it is okay to be overbought. If you already have a position, hold on a little longer. Historically, RSI bearish divergence has been effective in corrections in TQQQ.
NASDAQ 100- Potentially bullish rally.Note nearly every time the RSI breaks bullishly past the descending RSI red trendline, this corresponds to a strong rally.
Quick chart showing support and resistance on QQQ.Nothing to detailed just taking the tradingview.com platform for a test drive.
We can see the support and resistance in the Ichimoku cloud where it levels off at the areas of support and resistance showed by the red and green arrow. With both the SPY and QQQ above there value areas today on low volume. I see more room for a downside then any upside today as we get pulled back into the value areas. Good luck! NASDAQ:QQQ NASDAQ:TQQQ NASDAQ:SQQQ
Follow up to my first idea - "Long term short, short term long"Ok, an update to the first idea - where I suggested going LONG in short term, while holding a bearish long term position, and likely adding to it on every top...
RSI is a good "give-away" of overbought conditions. We've had our short term pop multiple times to 1940s area, and have been rejected by lack of demand, and overwhelming supply and falling economic indicators. RSI is again indicating extreme overbought conditions, and it's time to take out the 1800 floor, and likely set a new one. The thesis has changed from "short term long, long term short", to basically "This is the new top, short everything above 1900".
Sentiment Timing - DEC/4/2015 - THIS DROP WAS COMING The Sentiment on 12/2 was 93% Bullish. As I noted: “In general it is never a good idea to Buy on High Sentiment.” We have seen that every extreme cluster of Low Dorsey Sentiment have been ideal time to Buy zones. However, it is little recognized that “High Sentiment and Low sentiment are materially different in that they represent different aspects of the Emotional Market Brain.” The 5% Bullish on Thursday has been followed by 2% Bullish today after yesterdays’ dramatic declines. Stocks are trying to recover this morning and that may continue to some extent. However if the market remains relatively weak and there is low Sentiment on Monday, it could register a MEMBERS ONLY Negative Sentiment Cluster and fit with the profile for declines into MEMBERS ONLY time zone. However, given that the Price High and Key Reversal from the 93% is only, “ MEMBERS ONLY ,” the best profile resolution is for generic weakness to persist into MEMBERS ONLY . There is overt and obvious support down to the MEMBERS ONLY level. Thus it may yet turn out that this profiled hiccup is still just more Range Trading. The interesting idea that I provide is that there are short term profiles within the longer time frames that most investors are focused on and/or seduced by. There are high probabilities profiles that don’t require long winded cognitive rationales.
I had surmised that the “Seasonals would NOT be typical this year.” After this downside surprise, there is due to be an MEMBERS ONLY and then perhaps another MEMBERS ONLY into year end. Let’s take it one trade at a time. I repeat: “Thus, this is not the time for Big Bets and Out-sized trading positions.”
.Don't be on the wrong side!!!! click on the link below to see what Woody Dorsey has to say and if you want more information
www.sentimenttiming.com
Descending channel. $QQQ $SQQQ $TQQQ $QLD $QID $PSQBearish signal triggered on 1HR chart. Estimated entry point at ~107.50.
TQQQ Bounce or Not to Bounce?Flood of US economic data after the long weekend. Greece is in serious bankruptcy 'do-do' so watch out.
TQQQ QQQ will the support hold?US data today may sway markets. We are headed lower in the PM. Watch for a possible bounce at the support.
Still holding after positions at this level. Looking for shortIs all on the chart :) Got in at $76.92 now up at a substantial gain at over $10. The only thing that makes sense to do is wait for a short if/when this support level is broken, but in this market? I'm setting up for a downward biased, neutral trade.
Check out related idea for reference, and thanks for viewing!
TQQQ opened bellow Focus Line as it pushes to setup for a buy.TQQQ broke through the two previously established levels of support and past our focus line, we're hoping for some more weakness before the getting in for the bounce.
