Where will QQQ go from here?Slight correction is expected but long term trend line remains with target price of USD520 by 2025
QQQ trade ideas
QQQ - Bull, < 1WInstrument: QQQ
Direction: Long
Time Frame: 1W
Upper Target: 100DSMA
Lower Stop: ~413 (New Rel Low)
Reference Weekly Monday Journal for basis.
QQQ Scalping Zones 4/25Premarket levels have been working pretty good. Come join the team and bank!!
Upside Targets:
*419.98 - 421.07 - 422.90
Downside Targets:
*418.55 - 417.29 - 415.22
Daily Trend Tracker
*DXY - Bullish - *VIX - Bullish - *US10Y - Bullish
✏️ Weekly Report: Weak Bounce & Weak $META MARKET OVERVIEW
A weak bounce in the market this week, which lifted stocks modestly off their lows though most stocks are struggling to recover a significant portion of their recent losses.
Tonight, Meta Platforms ( NASDAQ:META ) is adding more downside pressure on growth stocks after it announced weak guidance numbers and the stock collapsed $75 lower in afterhours trading.
Let’s start the charts with Nasdaq-100 above (QQQ)
––––––––––––––––––––––––––––––––––––––––––––––––––––
NASDAQ:META
NASDAQ:SMTC
Constructive pattern. Closed just above the $33 buy point, however I would like to see more volume pick up from here.
NASDAQ:MSFT
The stock needs strong earnings today to get past $431 would be a place to open a position. However, slicing through the support level at $395 is a sell short point for aggressive traders
GOOGL
Massive weekly Cup with Handle base. Earnings are coming today. Technical buy place is $160.25 if earnings are good and we have good volume.
NASDAQ:KLAC
This company reports earnings tomorrow. A move above the $687 is a buy point. However, weak earnings below $680 is a logical short.
NASDAQ:NVDA
Bounced to the 50D SMA (red) and turned down. Aggressive play for the intraday traders is a move over the $880 on a strong volume.
NYSE:GS
GS is just a little bit extended over the proper buy point. If the market starts rallying this could be a good short trade. I would be extra tight with stops here (around $414 level) if I was to play this.
BINANCE:BTCUSD
Bitcoin is performing a tight pivot. Over the blue line is a technical buy point (if we have good volume too)
QQQ Forecast!QQQ has made the similar pattern to 2023, and 2021 which increases the risk of more correction!
Which scenario is more likely to happen???
QQQ Scalping Zones 4/24Upside Targets:
*429.57 - 430.82 - 431.16
Downside Targets: Jan gap fill reject?
*427.20 - 426.35 - 425.61
Daily Trend Tracker
*DXY - Bullish - *VIX - Bullish - *US10Y - Bullish
QQQ's Longer Term UpdateGoing over the 4 hour QQQ chart updating price action and our plan going forward
QQQ Mid day scalping zones 4/22Make Trading Simple Again! Here are my 15 min qqq scalping zones.
Upside Targets: Jan gap fill hold?
*417.31 - 418.51 - 419.44
Downside Targets: Jan gap fill reject?
*413.14 - 411.68 - 409.94
Daily Trend Tracker
*DXY - Bullish - *VIX - Bearish - *US10Y - Bearish
Q's bullish momentum brokenQ's bullish momentum broken, it was driven by the chip makers and there is still good strength, but there is more competition, there was a Barron"s article this weekend on how the sector is moving, not super bullish but not bearish sentiment.
QQQ: Long Trade Explained
QQQ
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long QQQ
Entry Point - 414.64
Stop Loss - 408.19
Take Profit - 427.80
Our Risk - 1%
Start protection of your profits from lower levels
❤️ Please, support our work with like & comment! ❤️
QQQ expect short term bounceLooking at the last Sept correction, all of the three legs has a drawdown of around 8%. First wave took 23 bars. Currently, we've are 20 bars into the first down leg with a drawdown of 8%.
QQQ at 413 is the VWAP from the Oct, 2023 low and the top of the Jan base. It was almost touched on Friday.
If we get one more down day, it's likely a good buying opportunity in the short term
$QQQ - $343 Price TargetQQQ is in overbought territory in almost all metrics, selling has started which would cool down the index in order to move higher, looking for gap to be filled and a price target of $343
QQQ | SHORTNASDAQ:QQQ
Possible Scenario: SHORT
Evidence: Double Top Price Action
Entry: 433
Target: 422
SL: 436
QQQ Momentum is back -- 15% rally?It looks like momentum is back and QQQ is getting ready to break out of the trading channel. Based on the COVID rally, I think we have a chance to add another 15%.
Calls QQQJust bought some call as shown. I think is going to bounce hard. I might sell it tomorrow. TP 435 ish.
🗓️Weekly Report: Probabilities are stacking to the lowGENERAL MARKET REVIEW
The stock market kicked off the day on a high note, with stocks initially experiencing gaps upwards and a brief period of appreciation. Nonetheless, these early gains were short-lived, as the market faced significant downturns for the remainder of the session.
In today's trading, both the S&P-500 and Nasdaq indices have fallen through their 50-day moving average markers amid substantial trading volumes, signaling a bearish outlook. This further reinforces the notion that holding cash remains the superior strategy.
We'll begin our chart analysis with a look at the Nasdaq-100 ( NASDAQ:QQQ ) and S&P-500 ( SP:SPX )
SPX-500
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
META
Sliced today and looks like it is heading to the 50D SMA. Could see a bounce but it is very much market dependent
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
NVDA
Carving out a nice base with earnings coming on 22APR (Wednesday). The next buy point is above the $974 level on high volume, however I will look to play a pivot breakout before hand near the danger point, so that I would look to hold into earnings (IF I GET CUSHION)
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
SMTC
Down just fractionally today. It is setting a Bull Flag Pattern. If it breaks the lower side of the channel I d cut it loose.
Chart Pattern Analysis Of Invesco QQQ Trust, Series 1.
K1 is a bearish hangman pattern,
K2 verified it.
So, a potential double top or bearish flag pattern is on the way.
K3 is breaking the neck line of the potential double top pattern.
If it finally close below the neck line under sharply increased volume.
A motive wave may take the price to the uptrend line or 0.5-0.618fib area.
It seems similar to BTC.
450s by 4/26Nice shakeout before a swift reversal that will start this week. Bullish here with target zone 450-457 by 4/26.
Buying this dip as we near the end of this corrective wave.
QQQ: Will Keep Growing! Here is Why:
Looking at the chart of QQQ right now we are seeing some interesting price action on the lower timeframes. Thus a local move up seems to be quite likely.
❤️ Please, support our work with like & comment! ❤️
Is QQQ forming a Top? Trend Channel Chart shows the potentialTops take time however QQQ is obviously very stretched here and the recent consolidation is providing Bears an opportunity to open short positions with relatively low risk. The big challenge is that tops take time - they have a way of chipping away and frustrating bears. Watch for a break of the Trend line and Back test failure for a Bear trigger
QQQ Expected Growth! BUY!
My dear friends,
QQQ looks like it will make a good move, and here are the details:
The market is trading on 438.29 pivot level.
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 441.64
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
———————————
WISH YOU ALL LUCK
Top forming in QQQ?QQQ seems to be creating a top here on the Trend Channel Chart. The symmetry with the previous Top in 2021 is striking. The consolidation at this extreme extension makes price look vulnerable however Tops take time and that can frustrate bear positions. Bear Stops are often placed just above the Top Trend Cap but the Top formation has a way of triggering those early tight stops. Watch for a break of the first Trend Channel rail followed by a Back test of the Trend rail for the Bear set up.
