QQQ bounce?Fairly extended for an index fund although strong down trend. Could see a dead cat bounce here into 15m supply. Pressing bollinger bands on 1H and 4H.
QQQ trade ideas
Tech is a falling knife!Looks like its headed toward $300. Any moves up will likely be sold into until a bottom is formed.
A review on my analysis published last sunday!I published my analysis for patrons on October 22nd!
30 charts in 1 analysis for the most important week of this quarter!
you can find the analysis link:
What does 5% look like?What does 5% look like on a chart? Treasury prices have plummeted, sending benchmark 10-year yields above 5% for the first time in 16 years. Governments issue bonds when they want to borrow money. Bonds issued by the US government are called Treasurys. If you buy a bond, you're giving them a loan. The bond itself functions as an IOU note, with the holder entitled to regular interest payments and repayment of the loan in full at a later date.
Over the past 18 months, FOMC has raised benchmark interest rates by more than 500 basis points – the steepest increase since the 1980s. In recent months, the central bank has signaled it plans to keep rates high well into 2024 until its 2% inflation target. Remember, yields move in the opposite direction to bond prices. When borrowing costs go up, bond prices fall because their fixed returns become less attractive to investors.
QQQ YTD = +31%
YTD low = -2%
YTD high = +46%
QQQ 20yr average ROI = 10.6%
QQQ 10yr average ROI = 20.1%
QQQWe tend to see the market rally in Q4, I not feeling too confident on that. QQQ looks like it won't hold support. Testing a support level as earnings season is underway...not looking too good. Look out below...?
$QQQ, $NQ, NASDAQ, QQQ short positionsNASDAQ:QQQ continues to weaken; I am short with various entries in the yellow box. Now that NASDAQ:QQQ has established a newer "lower-low" it may rally a little; but it is overall short.
As such I'll be considering $374 as the top of my new box with $368 as the likely resistance zone to press these shorts.
I think we'll see a run on that resistance zone by late November that; given the weakness proven by the lower-low, will likely fail.
Liquidity is much lower; somewhere like $320. So the current liquidity pool will likely be broken sometime soon, next 2 months.
Monday’s range on QQQRan the high then back into range and a back test. Bleeds into weak daily and weekly charts.
$QQQ - what will it be?NASDAQ:QQQ bounced off of the lower trendline in a descending wedge. 👀
If it can break out of that wedge, it is not hard to imagine it making it to $391. For the near term, I think it could get to $367 - $370 area.
Until you see a breakdown below $348, I think it looks good for the bulls.
Key Levels:
- Watch $375 for bullish breakout. 👀
- Watch $348 for bearish breakdown. 👀
Rally may comeLooks like a rally is coming, but I'm very careful this time. It could be a retest of the broken trendline and then the price pulls back hard at the end of the week. I think we are at a consolidation phase, we will see ups and downs for a few days or weeks like it did before (yellow markups). I'm currently trading with short term options taking advantage of the ping pong movement until I see a clear direction.
QQQ will fill its gapThe QQQ has experienced a substantial decline in value over the past few months. Despite the market consistently forming lower highs, it is noteworthy that robust counter-reactions are occurring with similar frequency.
With a clear bullish divergence in the CDV, we anticipate a bounce to take place this week. The long position outlined in this scenario presents an attractive Risk-Reward Ratio (RRR) of 3.7:1.
Bullish on QQQ.
As you can see here, we are approaching a major support zone that I drew on the 1-hour timeframe. I will be watching for a bounce around the 351.40 area on the 15-minute timeframe with high volume. If we touch the top of the trendline, I will look for a bounce to the downside.
Bought some callsI bought some calls, I think price is going to bounce from the trendline. Low risk, I didn't' buy too much.
All indicators are negative for QQQLast Friday QQQ broke the upward trend line for 2023 on the daily and weekly charts - see my earlier post. Lower highs and my favourite indicators are pointing south on both the daily and weekly. Note the downward trend on MACD and RSI since June. So it will probably fall further. There's support right now around 354-355 so perhaps a small bounce first?
SPX, DJI, and the big 8 are looking the same.
I guess 349 would be the obvious target for QQQ? It's a further 5 points down from Friday's close, and a sticking point back in June.
And all that is before we consider the effects of likely developments in the Middle East *sigh*
Not trading advice. Do your own research.
$QQQ what IF we take out 351.... Q's still up a decent 33% on the year, but that quarterly....
IF we take out 351 anytime soon, what will be left of that yearly gain (?)
Let's see how it plays out, anything can happen
ANYTHING
Let price action guide you, the only thing that really matters (to me)
$QQQ still inside quarter, closer to previous Q low Similar look for NASDAQ:QQQ as for AMEX:SPY on the D, W, M and 60
The month looks a tiny bit better as it is still inside of previous month (a.k.a. a 1)
Given it's the firs month of Q4 we also have an inside on the quarter, but it looks more probable that it will take out previous Q's low than the high
Zooming out, in this case to the Quarter and the Year (12M) should make it easier why we saw a fair amount of chop chop.....as is common during an inside candle, knowing we are in an equilibrium situation i.e. no clear direction (yet) as long as the (quarterly) participation groups are not on the same page yet in terms of aggressive buying or selling
Hence, patience, but for now DOWN it is....
QQQ - Falling Trend Channel [MID-TERM]💡 Pattern: Cup & Handle
💡 RSI: 47 Neutral
💡 Risk: Medium
✅ Resistance: 370, 385
✅ Support: 350
PERFORMANCE
🔴 ST: NEGATIVE
🟡 MT: HOLD
🟡 LT: HOLD
*ST: Short-term | MT: Mid-term | LT: Long-term
Verify it first and believe later.
WavePoint ❤️
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QQQ long at 360Structure set up for a long entry at around the 360 mark.
ABC corrective wave of longer term bull phase into Christmas appears to be ending.
360 looks to be 0.618 retrace of Wave 1, and also exact 100% of Wave A.
Note we may have already hit the bottom at 362 (50% and 0.718 of Waves 1 and A respectively). However VIX model looks to be setting up a new high to complete the retrace (will post shortly) so I don't think we can rally until VIX 20 has been broken
QQQ weekly consolidation confirmedQQQ weekly consolidation confirmed
Context:
weekly - downtrend (DT)
daily - uptrend (UT)
Last day:
Price broke previous week low, signaling start of weekly consolidation. Value is overlapping with the previous day.
Conclusion:
Market looks very bearish but there is an interesting nuance. Although weekly consolidation confirmed we're still in daily UT, which is a bit abnormal. Moreover, value has been moving down very reluctantly in the past 4 days. All these might be a sign that bulls are still somewhere undercover waiting for the right moment to kick-in. Important levels to watch is trend line support and last daily pullback low (353). If there are signs of reversal we can then witness a very nice shortcovering rally
Disclaimer
I don't give trading or investing advices, just sharing my thoughts
Looks like QQQ is going downOn the weekly QQQ chart there's a Shark Cypher harmonic pattern - these are pretty accurate. Also today we closed at the trend line from January 2023. All that plus world events which don't seem to be improving sadly. It's time to be careful out there.
Not trading advice. Do your own research.
QQQ Butterfly Is Not Ready to Fly Higher the detail is shown in the above Idea.
I made this Idea based on Candlestick Analysis and Harmonic pattern.
Although Spring Season has started
and Butterflies started Flying in the Sky
But the QQQ butterfly is not ready to fly yet and should try again.
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$QQQ 15 min 2 steps for Bullish Scenario with T1S Indicator:
1. Candles Above the Green Line:
• Check that the candles on the chart are positioned above the green line of the T1S indicator. This could be an indication of bullish momentum.
2. Bars Above Zero:
• Ensure that the bars on the T1S indicator are above zero. This condition might suggest positive market sentiment or upward price movement.
2 steps for Bearish Scenario with T1S Indicator:
1. Candles Below the Green Line:
• Verify that the candles on the chart are positioned below the green line of the T1S indicator. This condition may indicate bearish momentum or a potential downward trend.
2. Bars Negative Below Zero:
• Confirm that the bars on the T1S indicator are in the negative territory and located below zero. This setup suggests a negative market sentiment or downward price movement
