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QQQ Nasdaq Drop Analysis July 11, 2024Everything that goes up must come down! Many people get scared on days like today when the NQ dropped around 10% out of nowhere, but if we expand the chart, we can see that since mid-April, the Nasdaq has only gone up and up! We call this a state of institutional liquidation. Today, the CPI results were favorable, and there was no economic news that could have taken down the Nasdaq, so naturally, the market has to go down. The question is, for how many days? We really don't know, but if we average the last pullback, we can see that it will be at least 4 to 5 days. Thank you.
NASDAQ:QQQShort
by RocketMike111
Short QQQ, Long IWM?The long tech trade seems to be coming to an end here. If we continue to reject this trendline, then I think the Mag 7 and Nasdaq trade could be over and you'll be better off longing "value" going forward. On an individual stock basis, there's a number of names that look to be forming bottoms in the value space and a number of stocks (META, NFLX, NVDA, etc.) that all look to be forming tops. Time to rebalance the portfolio around value? The chart should be the guide should it reject and fall from here.
NASDAQ:QQQShort
by benjihyam
2
Do not Trap in Gambler's/ Monte Carlo Fallacy!This image shows a historical chart of the QQQ ticker (which tracks the Nasdaq-100 index) over the past 15 years. The chart displays sequences of the market's consecutive up days (green) and down days (red). Key points from the image: 1. The chart spans from 2009 to 2024. 2. Green and red bars represent up and down days respectively. 3. Numbers in boxes above certain points indicate strings of consecutive up or down days. 4. The longest streak shown is 14 consecutive up days. 5. The title warns: "Be aware to not trapped in Gambler's/Monte Carlo fallacy" The Monte Carlo fallacy, also known as the gambler's fallacy, is the mistaken belief that if an event has occurred more frequently than normal in the past, it's less likely to happen in the future (or vice versa). In the context of this chart, it warns against assuming that because the market has been up for several consecutive days, it's "due" for a down day, or the opposite. This fallacy is particularly relevant in financial markets where past performance doesn't necessarily predict future results. The chart illustrates that while streaks of consecutive up or down days do occur, they're unpredictable and don't follow a set pattern. The warning aims to remind investors and traders not to make decisions based on the expectation that a trend must reverse simply because it has continued for some time. Each market day is independent, and past patterns don't determine future movements.
NASDAQ:QQQEducation
by Moshkelgosha
7
07/10 QQQ Levels and ATR RangesATR for the QQQ siting at 5.14 - WE have 10am and 1030am reports on Crude and Gas from the FOMC, Powell still testifying about the economy in front of the senate. 2nd quarter earnings are on the way this is going to a be busy month. Looking for good reports to come out of tomorrow, so they might be buying up the Momentum into these reports tomorrow. But they might also be selling to bring it lower to bring it back up again. If we get a pullback, I would expect it into the 496.24 area for Yesterdays low range, if we break that, then potential 495.50 for the weeks low. I will follow the ATR lines and look for Volume and price action along with the EMAs to help gauge a potential direction. We are now dancing premarket dance around yesterdays high level of 499.81 (52 week at 500.00 EVEN). if we bust through that area after open, following my scalp lines and levels up to 500.48 to 501.82, potentially 502.30. If we get there, I believe the fight for 504 in underway. God bless and good luck everyone.
NASDAQ:QQQ
by TuskenDayTrade
QQQ - Short JUL19 495C @ $6.65 2 ContractsJust adding to my short position using a short options trade strategy. Selling two contracts here, and if we get a better setup will add to my short position overall. Was originally short 100 shares and had another contract assigned for a current 200 share short position. The other short contract expired worthless so I kept that premium. This can be taken as a trade or as I am doing a hedge for your portfolio. Will update later want to get the trade out!!
NASDAQ:QQQShort
by goldbug1
2
07/09 QQQ Levels and ATR RangesBig Pappa Pump is talking this morning, QQQ ATR is at 5.16$ We got big reports happening on Thursday, but other than that the reports are pretty weak. Looking for a pull back and bounce round 497.39 as low at 496.03 if we pull further I am really looking for the bounce around 495.50 yesterdays low of the day. If we get upside action we are certainly going past 500, especially if we pop past 499.50 with volume and price action the BIDs gotta pull waaaay past the ASK - possibly 502.70 area before we go back to test 498.59. SCALP SR2 500.60 SR1 499.93 SPOP 499.26 LAST PRICE 498.59 SBREAK 497.92 SS1 497.25 SS2 496.58 STANDARD R2 505.30 R1 502.72 POP 501.17 LAST PRICE 498.59 BREAK 496.03 S1 494.00 S2 492.64
NASDAQ:QQQ
by TuskenDayTrade
QQQ: Approaches Psychological Resistance! (D&W charts)In the daily chart of the QQQ, the price is steadily climbing within a well-defined uptrend, supported by the 21-day EMA and an ascending trend line. The ETF is approaching a critical psychological resistance level at $500, marked by the red line. This level is significant as it often acts as a barrier due to its round-number nature, where traders tend to set sell orders. A decisive close above this level would signal a continuation of the uptrend, potentially leading to further gains. The daily chart also shows a recent breakout above the previous resistance at 486.86, which now serves as a support level. This breakout, accompanied by higher lows, reinforces the bullish sentiment. If you are looking for entry points, then you might consider buying on pullbacks to the 21-day EMA or on a breakout above the psychological resistance at $500, confirming bullish momentum. On the weekly chart, QQQ is displaying strong bullish characteristics with consistent higher highs and higher lows. The 21-week EMA has been a reliable support, indicating the overall trend remains bullish. The recent bullish candle indicates strong buying interest, suggesting that any pullback might be limited and serve as a buying opportunity. Integrating both the daily and weekly charts, QQQ is showing robust bullish momentum. The key level to watch is the psychological resistance at $500. A successful close above this level would open the door for further gains. Conversely, failure to break above this resistance could lead to a minor pullback to the support levels around 486.86 or the 21-day EMA. For now, we should monitor these levels closely to determine the strength of the uptrend and make informed trading decisions. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:QQQ
by Nathan_The_Finance_Hydra
3
QQQ ATR Levels and LinesGood morning, Happy Monday. QQQ ATR is 5.16$ today. Its Monday, I dont know what to expect and the reports are looking kind of weak on the importance side. We are starting 2nd quarter earnings for the big boys and girls this week and into the rest of this month. Gonna be really silly I think in the way of price action. I am looking for these levels to come into play and looking for price action and volume to help me dictate what they will be doing at that time. Good luck to everyone and hope you hit the lottery today in the market. SCALP LEVELS SR2 498.48 R1 497.81 SPOP 497.14 LAST PRICE 496.47 SBREAK 495.80 SS1 495.13 SS2 494.46 Standard ATR LEVELS R2 503.18 R1 500.60 POP 499.05 LAST PRICE 496.47 BREAK 493.91 S1 491.88 S2 490.52
NASDAQ:QQQ
by TuskenDayTrade
SPY/QQQ Plan Your Trade For 7-8-24Back by popular demand - here is the Plan Your Trade video for July 8, 2024. Today, I will highlight my expectations and warn you that no one is able to accurately predict future market trends 100% of the time. I will tell everyone that I can't accurately predict anything related to future price trends/moves. I can use my skills and technology to "estimate" what I believe is a likely outcome for future price. I want to try to make this very clear. I'm not some special person who can see into the future. I am simply using my skills and my SPY Cycle Patterns to try to estimate what I believe could happen in the future. Based on that information, here you go. I've highlighted 3+ weeks of market trends, showing you where I believe opportunities exist and where to avoid sideways market trends. I see three very clear opportunities over the next three to four weeks. First, the continuation of the uptrend. Then, the pullback to support. Then, the renewed rally phase near July 23-24. Let's get some this week and prepare for what comes next.
NASDAQ:QQQLong
by BradMatheny
6
AI Bubble grows above resistance for QQQThe gap up and follow through today shows a clear break above the 2010 trading channel that has provide resistance so far. I see a pattern very close to that of July 6, 2020. The is not confirmation yet that price is out of the channel and that resistance has become support, but for the bulls this is a very good start. I would expect the bulls to try and run with it now that price is above the channel. I will also be watching for a pullback to test for support in the near future. If that can hold, the AI bubble may get really pumped. We can never know what will spook the market, but right now it feels like the sky is the limit. Today July 6, 2020
NASDAQ:QQQLong
by Dr_Roboto
4