Ok so I have been short the Q's and some QQQ expiring tomorrow which is the NASDAQ ETF. Here we sit at a critical level 19,600. Though nobody can tell the future, this is a place to look for a potential bullish bounce tomorrow.
Tomorrow I am going to look for some longs back to the 20,000-20,200 area if we show solid support at the 19,725. However if 19,725 is taken out look for a retest 19,600.
That is for daytraders and those are the levels I am looking at for tomorrow.
In the bigger picture, a close below 19,600 is a sign of weakness, and potential for further selling down to 19k.
Can we rally? Absolutely but I think the market is ahead of itself and needs a good correction just to revert back to the mean trend.
IF and when I sell some more calls or short outright I will let you know. Obviously daytrading is not something I can send signals out, but if you know the setups, those are the levels I am looking at.
Good luck and Good trading!!!
Tomorrow I am going to look for some longs back to the 20,000-20,200 area if we show solid support at the 19,725. However if 19,725 is taken out look for a retest 19,600.
That is for daytraders and those are the levels I am looking at for tomorrow.
In the bigger picture, a close below 19,600 is a sign of weakness, and potential for further selling down to 19k.
Can we rally? Absolutely but I think the market is ahead of itself and needs a good correction just to revert back to the mean trend.
IF and when I sell some more calls or short outright I will let you know. Obviously daytrading is not something I can send signals out, but if you know the setups, those are the levels I am looking at.
Good luck and Good trading!!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.