Tech sectors will pull back after Pfizer newsThe growth projections will be adjusted for many tech companies including zoom, shopify and peloton. They will continue to downtrend for more support. Key RSI level: 40
TQQQ trade ideas
TQQQ - Which way now? 207 or 107? - This week could showWe're at the top of channel for our 9/3 downward channel, and C wave length at 1.618 could take us to the $107 range.
But the elections broke us out of channel and with 4 green days in a row could be pointing up at $207
If we are up at 10:30am Monday I'm buying more.
If we're down, I'll be waiting on a nice drop to buy more, and considering selling what I have.
I'm a big long term bull on TQQQ having done well with it for 5 years, but short term things are pretty interesting.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
TQQQ good pullback off the highs, potential ABC retracement Key levels to watch are a sustained break below the highs set yesterday, and continued push below the 140, 135, and 130 levels. Macro support is 120 and 100, that would be an idea buy target. Copyright Rohan Karunaratne 2020
EASY MONEY THEY ARE PRACTICALLY GIVING IT AWAY!!!!Well if you've been on the sidelines and missed all the Action fear not theres still a chance for some Quick Large Gains...
This isn't Rocket Science....ran to hard, to fast, for no Reason. Oh wait there's and Election Being Counted Right?
And are they talking Recounts what?!?!
I can't spell it out for you here lol
Puts ALL DAY, buy the Put Options, choose your time frame depending on your trading type but...this is to easy. We are Def Short Here, even painted you
some Target Exit Points On the Fib Retracement. GLTA
PS
Thanks for ALL the Support. I am Sorry I wasn't able to keep up with my 30 Day to 100k Post. Between a regural job, the trading and trying to chart and post there just wasn't enough time in the day. So I had to either give up charting/blogging or my run to $100k. Needless to say I stopped blogging lol.
But.... I MADE IT !!!!!!!!!!!!!!!!
So Look for me in the future with a little more play money I should have so more free time and will try to keep putting things together for you. And I'm possibly considering a "Ride Along" for those who want to follow the trades as they happen.
Give a mean a fish he eats for a day. Teach a man to fish, he can eat for a lifetime. And I'm not selfish, if I can help anyone in anyway better their life, Im all about it.
Thank You All
TQQQ resistance around 158-160, beginning to top B waveThe rally up was way faster than I would like to see, definitely not the best sign for the bullish case. Already sold off, looking for a turn back town to complete C wave around 100. Copyright Rohan Karunaratne 2020
Swing Trading is a Long GameThe election has been a sorrowful event for anyone shorting out there. However, last month started terribly for me as well but actually ended up 32%.
TQQQ Diamond Tops bearish reversal patternTQQQ is “possibly” displaying a Diamond Tops bearish reversal pattern. Good luck and happy trading friends...
Buy low, sell high on TQQQMeasure bands around TQQQ and issue a buy when the price drops down and sell when price spikes up very fast.
TQQQ uncontested election could be problematic for marketsThe main key indicator that will dictate the next few days is how fast a winner is declared. If we can get a winner tonight, it doesn't really matter who, then we can continue this rally. If there is some uncertainty in the next few days, be prepared with VIX. Copyright Rohan Karunaratne 2020
TQQQ target 130 as part of ABC retracementTQQQ beginning to consolidate around 116, could potentially begin a retracement to 130 before heading back down into the low 100s. Copyright Rohan Karunaratne 2020
TQQQ Long Set UpAs the elections close in and COVID spike the nasdaq will continue to fall. Money is moving from over priced tech into cyclical stocks. The likely Biden win might cause a short term drop down to the 200 day SMA. This coincidently is going to line up really nicely with the september lows. After a quick drop expect this rally continue into the biden presidency. Remember, when looking at the last 30 years democratic presidents have out paced their republican counter parts in terms of Index growth. As long as the transition of power doesnt get tied down in the courts creating uncertainty ride the bounce.
If Trump wins this isnt invalidated. There are still many lock down concerns and with the continual denial of the Virus there is still plenty of fear in the market for another lock down but investors like the trump market so until then the rally shall continue.
Either way this sets up for a very nice long.
If the 200day breaks go short.
Trends in Biden Trump election ... odds helping democractsTrends in Biden Trump election ... odds helping democracts
TQQQ - Soon to Cross a Line - Expecting DownwardTQQQ was an amazing run to 9/3 the past 8 years, but...all good things come to an end.
I'm expecting a 3rd test and break below the support line and a drop towards a 33% correction from the 9/3 high (175.92, and crazy drop that day), putting us somewhere around $118 before we start the rebound.
33% / 8 year average correction in market overdue (Upward from 2008-2020, unless COVID/March counts).
I believe we're on a Leg C EWAVE correction. Waiting patiently for signs we've reached a bottom to jump back in.
MACD crossover on 10/12 and RSI Spike indicate we hit the high and are headed down.
*NOT FINACIAL ADVICE - NOT A FINANCIAL ADVISOR*
TQQQ bearish interpretation, key levels to watchNew lows today, opens possibility to seeing lower lows, and a continued trend down in the coming weeks, while I still am long on some NAS names, I do not see any short term catalyst other than stimulus that can take us out of the rabbit hole. This is not investment advice, but I am taking measure to cut back on some net green positions, and look out below. Key levels to watch are 120 on TQQQ, 116.5, and 112. We could also see new lows around the 100s. Copyright Rohan Karunaratne 2020
