QQQ trade ideas
$QQQ - Could check back the trendlineNASDAQ:QQQ could see further decline into the $454 - $450 area to check back on the trendline started back in October 2023. It is also the 10% drawdown area from its all-time high. 👀
educated guess for Pivot Points, tomorrowPrice has to get back inside the PP Range, fact. All we need for that to happen is about a .236 fib retracement.
The white lines, on top of the blue fib retracement are where i think S6 and r6 will be tomorrow. an educated guess.
30 years of watching price go from extreme to extreme tells me we are oversold, the rubberband is wound too tight, VAWP and P. P. by tomorrow, this is just my opinion of course.
Perfect 5 wave impulseThe move up was a perfect 5 wave impulse, so it looks like we are in for a 3 wave correction
QQQ approaches downside targetFinally QQQ has had a meaningful and rather rapid correction. I have been calling for 460ish for a while and have avoided adding to majors that arent tied to option selling. I took this opportunity to add a hefty position to amazon in the long-term spot account.
-If this teal line doesnt hold we will drop to the prior red trend.
-I think we definitely see some action in the demand zone box, possible a flash below to the 50 ema around 440$
-The quicker this happens, the quicker we are to base and then recover
-If this correction is drawn out we will have a pretty lousy August until a rally in late Sept.
QQQ Short TargetToday is quite bearish with VX moving up over 10% and many uptrends being broken. NQ is sitting at demand now, it may hold, but I think I'll wait before trying any longs. I used this are to take profit on shorts for now. If QQQ continues lower, I'd expect it to hit $460 soon and that could be a potential bottom for a while. Many supports are being broken, NVDA and pretty much all of the mag 7 have broken major levels and have not held any support yet.
It's a dangerous time for dip buying and I'd be careful.
$QQQ to bottom sub $250?QQQ had an impressive run, however, that run is now over and it's time to look at shorting this thing back into the ground.
As you can see, momentum has already flipped negative w/ the first red weekly heikin ashi candle.
I expect a sharp pullback here into the election and I think we'll bottom under the $250 sometime before the end of the year.
Let's see how it plays out.
Green week coming?I'm buying some calls here, strike 480 expire 07/26. I think we will have a green week ahead.
07/24 QQQ ATR levels and RangeQQQ ATR 6.11 has decreased over last week.
Fear and Greed indicator is at 54, a little higher than the neutral that we ended the week on last week.
Still alot of uncertainty in the world, foreign administration speaking today.
9:45 we got a couple market moving reports, Positive Impact (PMI > 50): Negative Impact (PMI < 50) for the past few months weve been over the 50s.
We need to hold the 473 level for sure for a bounce of any kind.
If we cant hold that, then we move to 465/464 area as low as 462.
If we can defend 473 area than we move back through the 474.90 zone and wrestle with the low 476.
nothing is set in stone and anything can happen. These are just using previous areas we have visited in the past since we are well below all-time highs.
QQQ H& S Pattern breakdown possible , US ETF474 below Trendline breakdown possible 472/470/460 can test soon
Also have H& S pattern which have target 440
Bearish Formation QQQ to $454.85 or $436.57but B wave up first to fill the gap. TP's in blue for both the small B wave up, and the big C wave down after
There are 4 possible B wave levels we have reached the first one, so we could just go straight down
$QQQ Nasdaq with Rate Hiking Cycle DatesGoing along with my usual 'Key Hidden Levels' in the markets perspective that NEWS is an important price level to mark on charts so it is visible to everyone, I have created the update to the "Rate Hiking Cycle" chart.
The purple triangles and lines are the range of the day of the announcement and the mid-point of the day plotted horizontally forward.
With this data you can see how past levels where the Fed Rate Decision occurred has provided either support or resistance to the movement of the market. Typically it hasn't been as obvious the the observer of a chart all by itself without these markings.
At some point these important news levels will be visible for all of us investors so we can see and understand more quickly how the market is absorbing or dealing with the news.
I hope you enjoy this chart an continue to update it for yourself. I will work to get these dates into the system so you can all see them on every chart.
Wishing you all the best in your investing and trading.
Tim
1:48PM, Thursday May 23, 2024
QQQ: Bullish Reaction Above Critical Support Level.On the daily chart, QQQ has established a critical support line at 476.26. This support level has held the price in the past, making it a key level to watch now. The recent price action shows a pullback from recent highs, testing this support line. The 21-day EMA was lost, and now it is a resistance level. To reverse the mid-term bearish sentiment, the QQQ needs to trade above this 21-day EMA again.
The weekly chart presents an evening star pattern, a bearish reversal pattern indicating potential weakness ahead. The evening star consists of a strong uptrend followed by a small-bodied candle and a subsequent strong bearish candle. This pattern is formed at the end of an uptrend, suggesting that the bulls are losing momentum. The key level of 476.26 on the daily chart aligns with the recent pullback seen on the weekly chart, adding significance to this support zone.
Today's reaction is promising, but the QQQ needs to break its 21-day EMA resistance, and make a clear bullish signal in order to frustrate the bearish signal seen on the weekly chart (evening star pattern). Otherwise, we can expect a pullback on the weekly chart.
In summary, QQQ is at a pivotal point with the critical support line at 476.26 being the focal point. The price action in the coming days will determine whether this support can hold and provide a foundation for a rebound, or if the evening star pattern on the weekly chart will lead to further downside pressure. The interplay between the daily support and the weekly bearish pattern will be crucial for us to watch.
This week is the start of earnings season, so we can expect high volatility.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
QQQ My Opinion! BUY!
My dear friends,
My technical analysis for QQQ is below:
The market is trading on 475.22 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 487.32
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
07/22 QQQ ATR Levels and RangeThe ATR of the Q's continue to get larger, again this could and very well is a cause of the downside action, it still calculates into the ATR regardless.
We got a clustering of price action below where we currently are something I am looking at for a bounce range.
Lots of geopolitical news out this weekend and as usual the market is in FUD mode.
And the CNN GnF meter is showing NEUTRAL !!!
Good luck
QQQ PossibilityGuessing the price action coming next week..
We are in a strong bull trend. Not expecting everything to crash at one.
My play this week is to scalp some calls as i see some support down at 472-474.
#QQQ-Major Supports under the knees of the market.#QQQ - Time: H4
$465
$445
are the major supports under the knees of the market.
QQQ to more downside?My prediction if QQQ breaks into a downtrend instead of bouncing / consolidating and moving up
QQQ Bounce off support?Just testing out some charting here, unsure if it will bounce to fall lower or continue higher but this does seem like a level to bounce off of?
QQQ: Bulls Will Push Higher
Balance of buyers and sellers on the QQQ pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the buyers, therefore is it only natural that we go long on the pair.
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QQQ - Technical Cumulation Points Indicate RecoveryI have plotted all relevant marks and technical developments directly on the chart.
To explain briefly: we see a pronounced bullish divergence in the DMI. This divergence should resolve itself in the upcoming week.
The divergence would be resolved if the price were to close at 485.20 or higher on an M30 basis.
The 38.2% retracement of the downward movement since July 10, 2024 and a volume imbalance are located at exactly this level.
In the small time frames, a tentative upward movement in the form of an upward 123 pattern was seen at the close of trading on Friday.
This recovery is very fragile. Nevertheless, it can be assumed that the price will soon resolve the bullish divergence, especially as the corresponding mark is of great technical relevance.
QQQ wave 4 bottom in. Wave 5 up to begin next week.Using Elliot wave, fibs, MA support, channels and more I show what looks like a local bottom for the QQQ. I expect the exciting wave 5 to begin next week and take us into Aug/Sep time frame. Many people are saying this is hit... always happens right before a reversal. These people take it to the limit so TA could also show a bear case... but once you put everything into context to me it shows that the Bull isn't done yet... Just another breather before resuming the uptrend.
QQQ Short TargetI thought NQ may hold the 20k area, which it may still. The trendline from 2023 in that area is critical as well, it has broken below that as well for now.
For QQQ, it has a really bearish looking break of its uptrend, breaking all support levels I have quite easily. Getting into some sketchy territory. As of now I'm expecting a move down to at least ~$468 and it just keeps getting worse if that can't hold there either.
