SMC tells me we are bullish for QQQBullish break of structure signaling a bullish premarket. I can see this run continuing and topping out at the EQHs of the previous 3 days. Moreover, if this gap doesn't get filled am we can see the top being swept before the sweep of the lows.Longby TPKTradingGroup0
What's going on with QQQ and Tech?Here is what I have been tracking with my technical analysis. What we saw since the end of July is the AI bubble losing its momentum. What happened? You can see on June 24th where price gaps up above the long-standing blue trading channel from 2009 that contained trading from 2009 until the 2020 bubble. You can see it gap down back into the blue channel on July 24th. It found some support on the mid-line of the longer running black channel from 2009 that includes the covid bubble peak. Then we got a test of the blue channel resistance on August 1st with a very strong rejection. Then the bottom dropped out to break below the AI rally purple channel. Where are we now? The morning open on Monday saw a test of the red trend line with a strong rally to back above the 200. We saw a test of the previous purple channel with a high wick on Tuesday. Today (Wednesday) saw a strong rejection of the channel, where it looks like support has now become resistance. We saw the high wick touch the orange price line around $449. The good news is that the 200-day SMA is showing support again. Where are we going (this is my guess)? It looks like the market is trapped between a rock and a hard place. I think the 200 day and the red trend line are going to give QQQ support as long as there are no other panics. It is unlikely that the AI momentum will be coming back either. I think it is going to drift sideways for a few days before picking a direction. This means it may bounce up and down between the purple channel and the 200-day into next week. You can see the red down channel that has now formed. If we do get a counter rally then I would expect it to stay inside the channel. That would leave us with a potential another leg down. The RSI is only a little into the oversold range. How far? My guess would be either the red trend line again, or maybe even farther to the center of the blue channel. We get down that low, then I have a bunch of cash to go long. I just can't see why QQQ would rally back to ATH now. There is way too much uncertainty now, but markets are irrational. I could see QQQ working back up the underside of the purple channel until the end of the year, with a lot of up and down action. I really do think that there is a bigger pullback sometime in the next several months. The market is just running close to the top of the decade plus trading channel and the AI bubble may finally become deflating some. I believe that we will see a touch of the center line of the blue channel in the next few months, which could be Nov or Dec time frame. That will give us a lot more room to rally and make some good money. by Dr_Roboto222
QQQ - After Hours TradeJust went short 100 shares of QQQ @ 432.37. Reasoning: I mentioned prior that the 448 level was a key level to take out for the bulls. We tested it today a couple times on the hourly and it failed. This is a sign of weakness, and though anything can happen, probabilities favor a take out of 433 here. This may be a short hold depending on what goes on tomorrow after the open. I only took a partial position and will see how things go if I want to add or close it out tomorrow. Hourly Chart: This is for daytrading and I do not base my direction on this chart, direction is based on longer time frames, and then I look for trades in the direction of those time frames. The market filled the gap from the open on Monday yet as it retested the broader trend line, which overlapped with the key 448 level, it printed two bearish pinbars. Had I been daytrading this would have been a setup to look for, but unfortunately I was at the Doctor's office ;(. Anyways the rejection here after filling the gap and failing to take out the 448 level is bearish in my opinion and I am positioning to take out 433 tomorrow morning. Going back to the weekly chart and looking at order flow, there really is no support until 409 but real support is down there around 370. This would represent about a 25% pullback and a good area to start loading up on stocks. Remember anything can happen here, if money was made easy everyone would be a trader. Do not discount a rally in the near term, but IMO the market is reverting to the mean.Shortby goldbug15513
$QQQ #GapFillnGo #Kamalanomics #InsertCackle #DEI #GoWokeGoBrokeIt's looking pretty sus out here y'all... Warned you with this rising wedge call out; This one isn't as #Golden / #Perfect ... But the reward on Friday puts for 8/9 vs the risk seem too "Juicy" to overlook ... Also, thanks to the 400+ followers, love seeing the comments and messaging with some of you as well! If y'all could do a #WellnessCheck on @cryptotrader6932198 it would be appreciated, he's gone missing for days after hating on me non stop for days... #Odd... I think he's either back at work or checked himself into a drug rehab, read the mans comments lmao mix of 8/9s and some 8/16s , have light feet in "Chopnesphere" ie; LEG IN #SurvivalOfTheFittest - ProphShortby Prophecies_R_Us0
QQQ predictionI expect QQQ to retest 500 again before the end of the year and break the level before falling apart. I have had most of this chart drawn for a very long time and have long expected a correction to the intersection of the purple lines at some point. This collides with the monthly demand zone which makes sense. -In short by next fall I think this will already be playing out -Short-term bullish, long term bearish -I would be very surprised if QQQ hit 600Longby Apollo_21mil0
$QQQ Trading Range for Today, August 7th 2024NASDAQ:QQQ Trading Range for Today, August 7th 2024 Ok. Last night I feel asleep without getting the second part of my video done. I have been exHAUTed this past week but next week I will have more energy and a lot of sleep is on the books for me. So today’s implied move is between 448-431 Tomorrow’s implied move 431-451 To the upside, look out to the 35EMA on the 30min timeframe. Look for signs of support and if we get above it than the target to the upside today on the day is 448. Which is within the bear gap that we did not close yesterday. To the downside, we have a bull gap from yesterdays gap up, the bottom of that gap is at 5186, and then the bottom of the implied move for today is 431. The WEEKLY 35EMA is also cutting right through the trading range and is a critical level to have on your chart today. Premarket trading takes us above that already so look to that as a possible support. GL y’all… by SPYder_QQQueen_Trading2212
QQQ Completed a Cycle Expecting to Resume the RallyShort Term Elliott Wave in QQQ suggests that the ETF has completed a bearish sequence from 7.11.2024 high. The decline made a zig zag Elliott Wave structure. Down from 7.11.2024 high, wave (A) ended at 455.63 low. Rally in wave (B) ended at 475.61 with internal subdivision as a expanded flat structure. Up from wave (A), wave A ended at 467.94 and wave B ended at 452.31. Wave C higher ended at 475.61 which completed wave (B) in higher degree. Then, QQQ turned lower in wave (C) with internal subdivision as an impulse structure. Down from wave (B), wave 1 ended at 444.47 and wave 2 ended at 450.49. Wave 3 lower ended at 426.59 and wave 4 ended at 436.17. Final leg wave 5 ended at 420.00 which completed wave (C) and ((4)) in higher degree. The current rally is in progress expecting to continue higher as wave ((5)). Near term, we are calling a leading diagonal as wave 1 of (1) of ((5)). This wave 1 ended at 447.07 high. Now, we are expecting to correct the cycle as wave 2 before resuming to the update in wave 3. The view is valid as price action stays above 420.00 low. by Elliottwave-Forecast115
QQQQ chartif the current pattern (a running away base) formation would finish at ma200 then a final wave 5 to new high then correct to ma400 or ma800 by gudian680
$QQQ Trading Range for Tuesday August 6thNASDAQ:QQQ Trading Range for Tuesday August 6th 2.37% expected move for tomorrow from options. yup. Volatility is back!! 🙌🏼by SPYder_QQQueen_Trading6
QQQ back in long term channel. What's next?After spending about a month above the long term blue channel since 2009 (excludes COVID bubble), QQQ is back inside the blue channel. You can see the gap up on June 12th and gap back down on July 24th. The black channel goes all the back to 2008 and the bottom of the market and includes the COVID bubble. The black mid-channel is currently acting as support. The AI rally starting in Jan 2023 has been confined to the purple channel. I see a couple of options for the next week or two. First, we could see a rally to test resistance of the purple channel. It is possible that we jump back above and the AI rally continues, but that fells unlikely. Second, it seems to me a bigger correction could be in store to break the purple channel support down to the red trend line. The core batch of tech earnings is up the next week or so, and that is going to have a lot to do with the direction. Weekly by Dr_RobotoUpdated 226
QQQ Wave 3 of C min 423So good morning all .The spiral turn event 7/11/7/18 turn asi said could be my second pinned tweet . back in late june post . But what next is why your here . first the bullish case . from oct low 2022 cycle we have 5 waves up we should find great support at at 409.5 .382 and wave A of the abc decline was 50 point drop A x 1.618 = a target of 395 this is the worst case target . I lean towards Ax 1.382 in this count for the reason I can still count this as wave 4 . best of trades the WAVETIMER by wavetimerUpdated 3
QQQ: It has reached an inflection point - D & W chart analysis.On the daily chart, a series of gaps show intense selling pressure. The downward trajectory and the pattern of lower highs/lows suggests sustained bearish sentiment. However, a significant gap was closed recently, at 487.21, followed by a slight bullish reaction indicating some buying interest at lower levels. The problem is that the trend is still bearish, as the price is still below the 21-day EMA, and we don't see any bullish chart structure yet (aka higher highs/lows). Therefore, any rally could be a Dead Cat Bounce, if the QQQ fails to break its resistance level at the 21 ema on the daily chart. Switching to the weekly chart, the emergence of an evening star pattern—a strong bearish reversal indicator—highlights a potential trend shift after making a record high. This pattern typically signals the exhaustion of a bullish trend and the commencement of bearish momentum. Following this pattern, a considerable pullback occurred, moving the price back below the 21-week EMA, which shows a lot of weakness. These charts suggest caution. The bearish indicators recommend preparing for potential further downsides if the gap support at 427.81 fails to provide the necessary support. Its next support is at 413.07. But, if the QQQ confirms a bottom signal above this support level, it could trigger a rally to itts 21 ema on the daily chart, and then we'll see how to proceed. Today's reaction is interesting. Let's follow the QQQ closely. 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.by Nathan_The_Finance_Hydra2211
QQQ - NVDA - AMZN - Closed Trades Take the Money and RunI am officially flat now in my trading account locking in the profits and selling my QQQ Short Put for a loss, but overall it was a win. I also closed out NVDA and AMZN Puts as well for a small profit. All in all around a 10k realized gains, will put the actual numbers together later, but wanted to get my closing out my trades here. I am looking for some sign that the selloff is over and right now it is weak going into the close so best to just take our money off the table and wait for better setups. by goldbug15517
QQQ - Closing ShortI am going to close out my short position at 430.28, However I am holding my short 450 PUT here so looking for a bounce. by goldbug16
08/05 QQQ ATR Levels and RangeNASDAQ:QQQ levels, that increase in overall ATR is not good, since thats all calculated from the downside lately, last 14 days of trading, although the number is going up, its going up for all the wrong reasons. Almost breached 6$ ATR from earlier in the month last month in the MID to low 6's now were are into and moving through the 7$ range..toooo much uncertainty for me, I need to watch and see what happens. I would suspect a pull to continue today, there will be pops on sales from those who knew and have large stakes, but I would trust any ANY POP right now, by TuskenDayTradeUpdated 0
Ranging this week for QQQI'm looking for a reversal after we form a HL which would signal a bullish market structure shift since we've already seen a HH after a LL.Longby TPKTradingGroup0
QQQ Trading Opportunity! BUY! My dear friends, Please, find my technical outlook for QQQ below: The price is coiling around a solid key level - 448.71 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 464.38 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK Longby AnabelSignals229
Long $QQQ with a target of 460Near the close on Friday after break above daily anchored vwap I did buy some weekly calls looking for a bounce towards 460 I will update and manage the position on Monday Longby MarubozuTrader0
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QQQ: Bulls Will Push Higher The price of QQQ will most likely increase soon enough, due to the demand beginning to exceed supply which we can see by looking at the chart of the pair. ❤️ Please, support our work with like & comment! ❤️Longby UnitedSignals111
Tripple Qs go down from here.From a fractal standpoint we have already entered into a downward trend on the QQQs. Shorting QQQ or longing SQQQ as it approaches $460 might make for a good entry.Shortby TahaBintahir1
QQQ 5th wave down in wave 3 of A 448/443/ 444.9The chart posted is the QQQ we are now in the late stages of WAVE 3 of WAVE A down . I have labeled the 4 hr pattern for you to see targets and form . I will be taken longs in the 448/444 area for a sharp rally back up in wave 4 of A we should see a last drop in a clean 5 waves down . From this point we will rally in the form of a large ABC rally to form WAVE B the BIG TOP wave B tend to catch most ALL traders wave B also tend to move to a HIGHER HIGH at about 1.236 to 1.382 at most of wave A down . I will post ahs the math unfolds But for the most part we are see in a super cycle TOP forming for the next 1 to 2 years the avg decline has been 34 to 50 % and takes about 2 years I have stated stagflation 2025 .best of trades WAVETIMER by wavetimerUpdated 448
QQQ - KAPLUNK - Trade Update - Covered PUTSell to Open Aug9th 450 Put @ 9.00 +- (2 contracts) Will update later but this is a covered PUT I am not selling naked. In other words this is against my short position. by goldbug14