QQQ by the Numbers 4% PB due
Qs have been better about channels than any other equity I've watched
There's an interesting periodicity of about 14 days (mid month and end of month), dips to bottom of channel.
The market seldom does exactly as predicted, and the specific day is usually the miss, but...this looks due.
.618Fib retrace of latest full EWave right to just below channel, enough to shake out bulls, scare the market and let the big boys take profits and buy in low again.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
There's an interesting periodicity of about 14 days (mid month and end of month), dips to bottom of channel.
The market seldom does exactly as predicted, and the specific day is usually the miss, but...this looks due.
.618Fib retrace of latest full EWave right to just below channel, enough to shake out bulls, scare the market and let the big boys take profits and buy in low again.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Note
We are still 1.6% below top of channel, so we could continue up slightly before the normal pullback.Note
Still headed this way, could bounce on$322 .618 Fib for the 4-5 leg right at the 200MA on 30 minute interval Note
Not as much movement as hoped today, but... still tracking...sort of.New bounce point may be 329.73
Still 2% to a bigger A wave bottom.
Nasty last minute drop into the close by the big boys signals red on Monday.
Note
Revised ABC lines in pink.The dip was more than expected, the B up will likely be smaller to.
B marks .618 Fib retrace of downline
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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.