QQQ SP500 7 Mega Cap Weekly time Frame Analysislots of weekly reversal patterns forming on these big names
QQQ trade ideas
$QQQ Look really goodpersonally 370 is high probability and if you look on the weekly, i mean what's the chance of it not rebounding on that level for a retest to the upside.
Pt 1 of 7 Mega Cap Tech stocks | QQQ SPY Analysis- GOOGL MSFT ER Tuesday AH
- META ER Wednesday AH
lots of big techs shaping up enough room from its drop to shape up a daily downtrend now we will see how earnings come in to see if it shapes up.
QQQ bounceQQQ gap at 374.19 hasn’t been filled yet. Also, there’s an upward sloping trend line around 373.19, which could support the price. If this year’s upward momentum keeps up, QQQ could aim for a target in the 384 to 385 range next week.
Opening (IRA): QQQ October 20th 325 Short Put... for a 3.25 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit which (ugh) is out in October.
This is admittedly not an ideal environment in which to sell broad market premium, but will look to add on weakness and in shorter duration if I get an opportunity to do so.
Technical and digital analysisWe notice that it is in an upward trend and there is an increase in momentum
If tech bounces here...I did a 3 and 6 month post on SPY, I will link that idea below. But I thought I would quickly touch on QQQ's 3 month range.
The upper and lower targets are in the chart. QQQ is testing the 3 month bullish threshold. If we bounce here, the expected TP is around 405, with the initial TP being 397.
If we actually bounce here... I am just buying TQQQ and calling it a day.
I am holding a small TQQQ position already that I scaled in some weeks ago, but will add to it. Or go with QQQ shares directly. Still on the fence. But I will be long in some capacity if we bounce here.
Else, look for support at the bearish threshold. That would be my stop out. A bounce and hold there would be where I add. A break of which I would be out period.
Its also interesting to note that the current 3 month baseline is right on the bullish threshold. Very curious. Have no clue if it means anything but VERY.... CURIOUS.
Safe trades everyone!
QQQ - A tale of Two Paths (and Pitchforks)QQQ is at an inflection area. It should soon determine which path is primary. There are arguments to be made for both paths, but bulls currently have a slight edge. Should the yellow region be lost by QQQ it opens the door for the bears to come charging in. Weekly close is shaping up to be a very similar formation as in the orange circle (bearish harami) - suggesting bears are already on the way - techs also have bearish divergences. Timing for yellow path is early April and white is mid June. GLTA!
QQQ - Question for BullsWeekly close will likely shape up as a bearish harami combo with a shooting star candle as well - strong bearish signals this would create. Also of note, techs - MACD and RSI have bearish divergences. Andrew's pitchfork to the upside has not yet been achieved, and if it fails, the measured geometrical move (per fibs from the all time high via EW - abc correction) will set up a very clean move to the downside to tag the median line of the Andrew's pitchfork. Question for the Bulls is... Can they reach the median line of the pitchfork to the upside? If they can, then the bearish divergences in techs should be resolved; if they can't, then the guidelines say a move equal to or greater from the last pivot shall occur - suggesting the white path becomes primary. GLTA!
$QQQ top?NASDAQ:QQQ looks to be putting in a top here. If it holds, I think we have a long way down to go.
I think we'll surpass last years lows and end up somewhere around the $200 range (where the green supports are).
Let's see how it plays out over the next 6 months to a year.
QQQ: Looking Out for a 20-40% Pull BackThe NASDAQ100 is currently sitting at the 0.886 and 1.618 PCZs of big Bearish Shark and Bearish Butterfly patterns as the indicators hover around the overbought zones; we don't exactly have much confirmation yet that these PCZs will hold, but it seems like it wouldn't be a bad idea to position against the QQQ early on via some SQQQ monthly calls and perhaps getting Bearish on some of the top stocks within the index such as NVDA, TSLA, and MSFT.
Being conservative, I will only be looking for it to come back to the common Fibonacci Retracement zones below, but it's also possible that this ends up being a macro top; for the time being, that doesn't really matter because as of right now, it looks quite Bearish.
On a side note, the VIX also looks like it's been preparing to spike up for a few months now and the targets for such a spike are pretty massive, as seen here:
QQQ The AI-Powered Future: A Bullish Case for Long-Term Options If you haven`t bought the Santa Rally:
or my 2023 forecast:
Then investing in long-term options on the Nasdaq 100 (QQQ) with a strike price of $420 and an expiration date of 2024-6-21 presents a compelling opportunity for bullish investors.
The convergence of artificial intelligence (AI) and the ever-growing technology sector is set to ignite the next revolution, propelling QQQ to outperform the S&P 500 and deliver substantial returns, in my opinion.
Now let's explore the factors that make this investment thesis a promising one.
AI-Driven Technological Advancements:
AI is undoubtedly the most transformative technology of our era. It has already revolutionized various industries and continues to penetrate new sectors, creating endless opportunities for innovation and growth. Companies listed on the Nasdaq 100 are at the forefront of AI adoption, leveraging its capabilities to enhance their products, services, and operations. As AI-driven technologies continue to disrupt traditional models and unlock new revenue streams, QQQ's constituent companies are poised to benefit significantly.
Tech Sector Dominance in the Nasdaq 100:
The Nasdaq 100 predominantly comprises technology-focused companies that have demonstrated remarkable growth potential and resilience. With the ongoing global digitization and the increasing demand for technology-based solutions, the Nasdaq 100 is well-positioned to outperform the broader market. As the technology sector continues to flourish, investors can expect these companies to deliver above-average returns over the long term.
I believe QQQ will reach $450 by the end of 2024.
Looking forward to read your opinion about it!
Opening (IRA): QQQ October 20th 319 Short Put... for a 3.27 credit.
Comments: Targeting the <16 delta short put in the shortest duration that's paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Tech Stocks Looks Bullish Into Year's End (Neowave/Elliottwave)Based on Neowave principles, it seems like major stocks (and non-crypto tech stocks in particular) will continue to rally into the end of the year, followed by a long correction in 2024.
After wave-E is finished in early 2025, we should see one of the largest bull markets since the 1990s. This will complete a 25-year correction which began in 2000 when the last tech bubble popped, and begin a new tech bubble which could last 10-20 years. This next bubble will likely be built on the backs of AI and crypto, as well as persistently high inflation.
Short opportunity in Nasdaq QQQYou can see the top and bottoms curves, top curve is peaking and bottom curve is flattening. Risk is low to the upside with daily stop losses following the curve. Conservative 3.5% to the downside in next 15 days. We also see double divergences in top and bottom trends on the Relative Trend Index, RTI could give third peak in next 8 days to confirm.
Below 363 we have an acceleration to the downside of 5-7% additional, for a total downside of 7-10% in next 3-4 weeks.
I have a short position in QQQ currently.
