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Invesco QQQ Trust, Series 1
Long
Updated

Cup/Handle Long off Large Dark Pool Supports $QQQ $NDX

963
We have waited patiently for the OCT 9 gap to be filled. This may be the trigger area near the 61.8% fib level from the September high to low. The 12+ million QQQ dark pool level should show support.
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Remember that DJI and SPX election year seasonality show at some point a buying into the election and beyond to the Q4 FOMC.

This year can be different, since the election may be contested if there is not a clear winner on Nov 3/4.

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Once the OCT 9 gap (OCT 12 dark pool level shown) was broken it surged much deeper.

Looks like they want to fill the Thursday OCT 8 gap now.

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NDX futures are traveling down in a clean parallel channel. We may keep doing this until next week on Monday, OCT 26.

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Rare oversold alert for SPX futures. The percentage of down days over the last 7 days reaches 0%.

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This occurred only a few times in the past 10 years.

2018

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2016 (Right before election)

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2008

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Standard usage of this signal from Larry Connors is to buy into it, and close the trade when the metric crosses back over the mid (50%) line.
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QQQ hits the OCT 2 dark pool level, and barely misses the OCT 8 gap fill here.

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I am staying away from tech and focusing on SPX, DJI, Russell 2000 into the election.
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YIKES.
mortdiggiddy
Find the edge.

Website: daily-edge.com
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aapleCup And HandleLONGNASDAQ 100 CFDnasdaqnasdaq100NASDAQ 100 CFDNASDAQ 100 CFDSeasonalitySupport and Resistancetechnology

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aapleCup And HandleLONGNASDAQ 100 CFDnasdaqnasdaq100NASDAQ 100 CFDNASDAQ 100 CFDSeasonalitySupport and Resistancetechnology
mortdiggiddy
Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Also on:

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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.