$QQQ Tomorrow's Trading range 8.29.24Honestly this just looks like the craziest trading range and I just want to have a copy of this for later so I can play it back. could be a weird day!!
QQQ trade ideas
QQQ showing more selling to comeQQQ throws signals that bears are still firmly in control and the downward trend should continue
QQQ tests major resistance line, fails to breakthrough
During recovery in late day trading volume steadily decreases showing disagreement in recovery
After hours shows a significant sell off which has recovered some since.
RSI falls in step with price showing no signs of reversal coming
Next major support line is around 463
Today marked the first day of strong downward trading breaking through support and holding. We are looking at more selling to come
QQQ sold off today and plummeted in after hoursQQQ started to finally show selling with momentum for first day in nearly a week of slowly selling.
It looks as though distribution phase has passed and selling with momentum has begun.
After hours etf continues to slide dramatically
Bulls have lost with bears firmly in control at the moment
The after hours sell we are experiencing now could possibly cause it to gap down on open then get filled in the morning before selling continues.
QQQ: Target hit + Next key points. |UPDATED|In our previous study, we warned about resistance at $484.43, and today, it hit our target at the 21-day EMA, exactly as we described in our last public analysis here on TradingView.
Now that the QQQ has reached our target, we should update our study.
Daily Chart
On the daily chart, QQQ has recently retraced after failing to break above the resistance level around $484.43, which corresponds with a prior top level. The 21-day EMA is currently acting as a dynamic support level, and if the QQQ loses this key point, it would reverse the bullish bias and seek its next support levels, such as the Fibonacci retracements as shown in the chart above.
Weekly Chart
The weekly chart offers a broader perspective, showing that QQQ remains within a long-term ascending channel. The recent pullback from the upper boundary of this channel suggests a potential correction or consolidation phase. The 21-week EMA, which has provided consistent support throughout the channel, is currently holding as a support level.
The price is currently positioned closer to the mid-point of the ascending channel, suggesting that the upward momentum might still be intact as long as it remains above the support levels seen on theh daily chart, especially the 21-day EMA. The next critical support area on the weekly chart is the lower boundary of the channel.
Key Levels to Watch
Resistance: $484.43 (Daily chart), which aligns with the previous top level.
Support: 21-day EMA and the Fibonacci retracements.
Summary
QQQ is showing signs of short-term bearish momentum as it retraces from the recent high near $484.43. The price is currently consolidating above important mid-term support levels. On the weekly chart, the longer-term uptrend within the ascending channel remains intact, suggesting that the bullish structure could resume if the price finds support at the lower boundary of the channel.
Let's watch the support levels closely for potential buying opportunities if the price stabilizes or rebounds.
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.
QQQ has day of consolidation testing resistanceQQQ increased slightly testing outer boundary of resistance line.
The day ended with a doji candle showing indecision in the direction
RSI remains slightly below SMA
EMA remains slightly below SMA
Stock breaks normal resistance to outer boundary during consolidation
Tomorrow will be important day defining the new direction. I anticipate tomorrow being a down day, but it may go in the other direction
QQQ showing bearish trend reversalQQQ is showing weakness in the rally and showing a bearish trend reversal
3 clear points show a downward trend forming
EMA holds distance firmly below SMA
Multiple hammer candles are rejected in todays trading causing more selling
QQQ looks to have finished its 2 week long rally and looking to reverse course downward
Potentially buying a put position tomorrow anticipating more selling to come.
Opening (IRA): QQQ August 30th 405 Monied Covered Call... for a 401.49 debit.
Comments: As with my IWM monied covered call, re-upping in QQQ in 45 days' duration with the short call at about the same delta it was in the setup I just took off with the basic goal being to milk a little bit more out of August without taking on additional risk. Here, re-upping at about the same short call delta actually results in a lower buying power effect and a lower break even.
Similar to the IWM setup, however, the metrics aren't sexy here as a standalone trade:
Buying Power Effect/Break Even: 401.49
Max Profit: 3.51
ROC at Max: .875%
50% Max: 1.76
ROC at 50% Max: .437%
Generally, 50% max take profit; roll out the short call for duration and a credit on side test.
QQQ In it's next bull run.
The CDV doesn't lie, along with a confluence of multiple momentum and volume indicators. Short of a black swan even it appears QQQ is headed to new all time highs. It was looking to form a head and shoulders on the daily, but you can see price broke the neck line, and has even came back to retest.
QQQ: Short Trade Explained
QQQ
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short QQQ
Entry Point - 480.03
Stop Loss - 489.99
Take Profit - 463.24
Our Risk - 1%
Start protection of your profits from lower levels
❤️ Please, support our work with like & comment! ❤️
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QQQ Buyers In Panic! SELL!
My dear followers,
This is my opinion on the QQQ next move:
The asset is approaching an important pivot point 480.03
Bias - Bearish
Safe Stop Loss - 489.12
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 465.88
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
———————————
WISH YOU ALL LUCK
QQQ - Close TradeGoing to close the trade out after hours at $476.00 to lock in profits on the trade.
Nothing wrong with taking profits and with the uncertainty I woods rather take the profits and run.
Little over $900 realized! Not bad for a week. Real trades with real account, stop following broke ass furus!!
QQQ Bearish EngulfingEngulfing candle signals more downside room potentially to daily gap fill down to 468, 467 and 465 area. Break below and it'll see 456.50
QQQ bounce right back to resistanceExtremely bullish 2 weeks after that crazy low last Monday morning. You can see that QQQ tagged resistance yesterday and sold off today. Market is feeling bullish, but my gut tells me that this is a dead cat bounce. Hard to know for sure. The rally has been almost abnormally strong, and if you look back to early 2022 you saw the same thing. Big sell off with ridiculously strong rallies, but ultimately the market kept going down. Now, I obviously don't know that for sure. The advice I got the other day was "stocks only go up" as he bought a bunch of TQQQ and made a nice profit the last 2 weeks. So, maybe it pays to always be bullish.
Anyhow, I'll just keep doodling on my charts and sharing with the hope that it helps someone.
QQQ - Trade Update Options StrategyI was assigned the contract Wednesday so currently short 200 shares of QQQ. Little surprised since the aftermarket took us under the 380 level but it is what it is.
Strategy today will be to sell some ATM PUTS against the position like the 483, 484 strike.
Will depend on the open, and I will update at that time.
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QQQ: Trading at a Critical Inflection Point (1H & D Charts).1-Hour Chart (Left Side)
On the 1-hour chart, the price has approached a significant resistance level at $484.43. This level is critical as it has previously acted as a barrier, preventing the price from moving higher. The price is currently trending upwards, supported by the 21-period EMA, which has been providing dynamic support. A breakout above this resistance could indicate further bullish momentum, while a failure to break through, with tthe loss of thhe 21 EMA, might suggest a potential pullback or consolidation below this level, seen on the daily chart.
Daily Chart (Right Side)
The daily chart also emphasizes the significance of the $484.43 resistance. There is an open gap above the price, and if QQQ breaks its main resistance level, itt could seek the ATH in sequence, aided by this gap. The closing of this gap could be a critical event, as gaps often act as magnets for price action. The 21-day EMA is sloping upwards, reflecting the underlying bullish momentum, and the gap closure remains a key level to watch. If the price triggers a top signal under our main resistance, a pullback to the 21-day EMA would be expected.
Key Levels to Watch
Resistance: $484.43 is the immediate resistance level, with the gap closure being a crucial event.
Support: The 21-day EMA on the daily chart, along with the $467-$470 area, might provide support if the price faces rejection at the resistance.
Summary
QQQ is at a pivotal point where the $484.43 resistance and the gap closure on the daily chart could determine the next direction. A successful breakout and gap closure might lead to further gains, while a rejection could see the price retrace towards the 21-day EMA. We should monitor these levels closely for signals of the next significant move.
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.
QQQ: is approaching a critical level If QQQ fails to close and open above $495 on the weekly chart, my bold prediction is that we could see a decline to the first target price of $360 and potentially down to $320 by January 2026. However, if QQQ breaks above $495 and closes above it, we could see a rally to $563 or even $650.
QQQ: Approaching a critical levelIf QQQ fails to close and open above $495 on the weekly chart, my bold prediction is that we could see a decline to the first target price of $360 and potentially down to $320 by January 2026. However, if QQQ breaks above $495 and closes above it, we could see a rally to $563 or even $650.
QQQ - Selling short term Calls todaySell to Open AUG20 480 CALL @ 1.20 (2 contracts)
Just playing the hesitation here on options that expire today.
Qqq idea Taking another short here . The gap has been filled . I would take another short if this scam continues to go higher at the last gap fill . It’s unbelievable how this market behaves the indicators are broken .
QQQ Nasdaq 100 ETF PredictionIf you haven`t bought the last dip on QQQ:
Historically, the QQQ Nasdaq 100 ETF has demonstrated a consistent pattern where a Relative Strength Index (RSI) at or below 30 triggers buying activity.
This technical indicator, typically viewed as signaling an oversold condition, has reliably attracted investors looking to capitalize on perceived undervaluation.
As a result, these dips have been quickly bought up, suggesting a strong market tendency to rebound from such low RSI levels.
I expect the recovery to be V-shaped or W-shaped, ending the year higher.
