qqq sell!! STILL OVERBOUGHT!Party like it's 1999! Definitely cannot call a top or bottom but we can spot foolishness and bubbles. QQQ needs a correction even to maintain the uptrend
Targets $470.71, $459.94, $451.23 and possibly $442.52
QQQ trade ideas
QQQ about to correctWith NVDA finally losing steam, META looking the same, and TSLA looking weak as well I expect a correction here. This index has outperformed for a while. I look to 450-460$ in the coming weeks. By this occurs a test of the 20 EMA on the weekly will be around 450$. I look for a stochastic RSI that is starting to flatten here. Volume has slowly been falling over the year as well. That hammer hammer candle is bearish. Remember, my last few charts have been weekly timeframes, this will take a while to play out.
QQQ In correction territory As we can see QQQ made a double top on June 20th with that day making a bearish engulfing candle followed by a spinning top, all while the RSI is signaling over bought conditions.
In addition, the average volume since April has been dropping as the price has been rising, creating bearish divergence.
Finally, the price is well above the 1 year POC line ($369), the point where the most shares have traded over the last year.
Given the big run and the overbought conditions it appears that QQQ is ready for a correction. Based on the Elliot Wave forecast and the Fibonacci ratios a pullback to a range between $413-$432 (11-15% drop) is very likely, especially with Summer tending to be the weakest part of the seasonal trend as traders take vacations and people "Sell in May and go away."
QQQ: Market of Sellers
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current QQQ chart which, if analyzed properly, clearly points in the downward direction.
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QQQ Q2 2024QQQ ETF Q2 2024 view with RSI and 200, 100, 50, 20 VWMA indicators.
SPY
GOOGL
NVDA
AMZN
AAPL
MSFT
TSLA
META
Triple witching on FridayTriple witching, also known as quadruple witching, is a financial market event that occurs on the third Friday of March, June, September, and December each year. In 2024, the dates are: March 15, June 21, September 20, and December 20. The simultaneous expiration of stock-index futures, options on stock-index futures, single-stock options and index options can generate significant volatility and volume. However, the E-Mini S&P 500 (ES1!), E-Mini Nasdaq-100 (NQ1!), Dow Jones Industrial Average (YM1!) and Russell 2000 (RTY1!) futures contract switch was last week.
Here's a 1 week chart of SPY and QQQ. This support and resistance trend channel is based on the trajectory so far since the October 2022 low till last weeks high. *if this trend trajectory continues until the end of the year, then SPY range is 550- 590 and QQQ range is 500 - 550 by 1/1/25. However, the red resistance line is a short area and green support line is a long area along the way. *if the trend changes you will know based upon this trend channel.
Don't forget the Markets are closed on Wednesday for the Juneteenth national holiday.
QQQ journal for price at $484I have had the number 84 a ton back in March and April when I though there may be a dump to 384. However, once we broke my upside levels, I had to reassess wth 84 is and realized quickly it was 484.
So this is just for my journal to see what happens once we hit. It's only $3 away. I have negative energy atm and think we may retrace into Friday, but on monthly time frames still go up.
Elliott Wave Expects Nasdaq 100 (QQQ) to Continue HigherShort Term Elliott Wave in Nasdaq 100 ETF (QQQ) suggests it shows a bullish sequence from 4.20.2024 low favoring more upside. Up from 4.20.2024 low, wave 1 ended at 461.5 and pullback in wave 2 ended at 443.06. The ETF has extended higher in wave 3. Internal subdivision of wave 3 is unfolding as a nesting impulsive structure. Up from wave 2, wave (i) ended at 455.58 and wave (ii) ended at 447.9. Wave (iii) higher ended at 465.55 and pullback in wave (iv) ended at 460.54. Last leg wave (v) ended at 465.74 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 461.5 and the ETF has extended higher.
Up from wave ((ii)), wave i ended at 465.19 and wave ii dips ended at 462.03. Then it rallied higher in wave iii towards 478.28 and wave iv pullback ended at 473.80. Last leg wave v ended at 478.95 which completed wave (i) in higher degree. The ETF then pullback in wave (ii) towards 474.42. Near term, as far as it stays above 461.51, expect pullback to find support in 3, 7, or 11 swing for further upside.
Opened (IRA): QQQ August 16th 420 Monied Covered Call... for a 411.80 debit.
Comments: (Late Post). Sold the -75 call against a one lot to emulate the delta metrics of a 25 delta short put, but with built-in short call defense.
Metrics:
Buying Power Effect/Break Even: 411.80
Max Profit: 8.20 ($820)
ROC at Max: 1.99%
ROC at 50% Max: 1.00%
Will generally look to take profit at 50% max on the entire setup (stock + short call) as a unit, but won't hesitate to roll out the short call if in profit to keep my break even at or near where the underlying is currently trading.
Qqq idea Small channel using the renko charts , small channel inside bigger channel long term channel on red and short on white . I think the markets starts to retrace next week just a temporary pullback . Then maybe after elections the market will decide if it goes to bottom of big channel at 360 or keep rallying to 560. Right now seems to me top tech stocks are a little overbought. I expect the small channel to be tested on support and bounce from there . This is not a financial advidse
QQQ Will Collapse! SELL!
My dear friends,
QQQ looks like it will make a good move, and here are the details:
The market is trading on 479.18 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 463.82
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
QQQUp move calculated from 259.73
target to 503.48
Circle shape possible come back to angle 315 at 468.71
Finally to executive triangle to go to final point
QQQ: Short Trade with Entry/SL/TP
QQQ
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short QQQ
Entry Point - 479.18
Stop Loss - 489.67
Take Profit - 457.67
Our Risk - 1%
Start protection of your profits from lower levels
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Qs above the lineMeasured move into new ATHs in anticipation of NVDA earnings next week - end of month. Above the midpoint of channel (month). Week view.
Same Same But Different ?We See 4 Years Of Grow With High PE / PS / PB / FWPE With High Interest Rate The Market Look Super Strong Like Cannot Be Beat .. NASDAQ:QQQ
Market Crash - QQQ TopQQQ rejected perfectly on a retest of its previous ascending channel from the rally over the last year. It has finally gone back for that retest after breaking well below in April. It's not a big rejection yet, but this is something bears can feel good about. I'm still confident in my prediction and today has reaffirmed that confidence honestly, but I still question the action on VX. IF QQQ breaks above here and breaks out further, I may get my face ripped off. We shall see.
Will NVDA Stock Split Send QQQ to ATH Today??Outlook - With APPL primed for a run to ATH and NVDA stock split I can
see a rally to the upside if levels hold. Obviously huge news this week so I will stick
to my levels and play whatever side my analysis supports.
Upside Targets:
* 463.41--464.16--465.7
Downside Targets:
* 462.32--461--459.17
Quantum Edge Analytics = T/A supports bullish momentum if 463.41 breaks and holds
Market Crash - QQQ Ascending WedgeHere we have yet another rising wedge, this time on QQQ. This pattern started back in October of 2023, so if we fall below, that's most likely going to be a substantial move. The longer the time period you have for a pattern, the bigger the move. An upside breakout is possible, if it breaks this wedge to the upside that'd be quite bullish. Easy to say it's bullish if it hits a new ATH, but when you have a bearish pattern that flips bullish, it usually adds even more movement. The best odds are for it to fall below.
QQQ still confined to the trading channel since 2010The blue trading channel has been a very reliable resistance since 2010. You can see the many times that it has confined price action, only being broken during the COVID bubble. My guess is that it will continue to be resistance. We will likely see a repeat of the action from 2015 and 2018 where price will slowly work sideways but ever so slightly higher with numerous pullbacks until we see a large pullback to the support side of the channel.
Here is what the action looks like on the 1D. You can really see the price trying to break out, but as we saw back in April, it ultimately lost and we had a nice pullback to buy into.
QQQ Scalping Zones 6/11Outlook - Thesis from yesterday almost played out but no support from APPL kept QQQ from reaching ATH.
With big news dropping tomorrow I would expect chop in a tight range 465-462
Upside Targets:
* 463.94--464.39--464.85--465
Downside Targets:
* 463.22--462.11--460.11
Quantum Edge Analytics = T/A supports bullish momentum if 463.25 breaks and holds.
QQQ 25.5% decline over 260 daysI believe that QQQ / NASDAQ has reached its peak and will be heading into a decline / recession starting sometime in July or as late as October.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. I am not a financial expert, please do your own research and seek professional and licensed help for financial decisions.
$QQQ $NASDAQNASDAQ:QQQ #Nasdaq $480-$490 seems easy this year...
-Base Trend Holding & WR Formation
- BreakRetest & Weekly Engulfing on Weekly Resistance
-Could see 480/90s by 2025
QQQ Set To Fall! SELL!
My dear subscribers,
This is my opinion on the QQQ next move:
The instrument tests an important psychological level 462.97
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 450.36
My Stop Loss - 470.53
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
