Similar look for 
QQQ as for 
SPY on the D, W, M and 60
The month looks a tiny bit better as it is still inside of previous month (a.k.a. a 1)
Given it's the firs month of Q4 we also have an inside on the quarter, but it looks more probable that it will take out previous Q's low than the high
Zooming out, in this case to the Quarter and the Year (12M) should make it easier why we saw a fair amount of chop chop.....as is common during an inside candle, knowing we are in an equilibrium situation i.e. no clear direction (yet) as long as the (quarterly) participation groups are not on the same page yet in terms of aggressive buying or selling
Hence, patience, but for now DOWN it is....
QQQ as for SPY on the D, W, M and 60 The month looks a tiny bit better as it is still inside of previous month (a.k.a. a 1)
Given it's the firs month of Q4 we also have an inside on the quarter, but it looks more probable that it will take out previous Q's low than the high
Zooming out, in this case to the Quarter and the Year (12M) should make it easier why we saw a fair amount of chop chop.....as is common during an inside candle, knowing we are in an equilibrium situation i.e. no clear direction (yet) as long as the (quarterly) participation groups are not on the same page yet in terms of aggressive buying or selling
Hence, patience, but for now DOWN it is....
Note
QQQ now at 354.60 close to trigger the quarter DOWN....
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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.