And last idea I will do is QQQ, unless otherwise requested to do something else.
Think I will ignore SPY this week.
Levels for QQQ are in the chart.
I usually check for price accumulation over the previous 500, 30 minute candles, but QQQ and the indices were kind of rangy last week so had to expand to 1,500 candle lookback.
Momentum probs are actually bearish with a 67% success rate.
Standard deviation are bullish with an identical success rate.
From looking at the probs on most things, I think we will see movement in both directions. If we can see some dipping first.. well... as they say... BTFD...
But at the end of the day, let PA speak for itself and watch those conditionals.
Safe trades everyone!
Think I will ignore SPY this week.
Levels for QQQ are in the chart.
I usually check for price accumulation over the previous 500, 30 minute candles, but QQQ and the indices were kind of rangy last week so had to expand to 1,500 candle lookback.
Momentum probs are actually bearish with a 67% success rate.
Standard deviation are bullish with an identical success rate.
From looking at the probs on most things, I think we will see movement in both directions. If we can see some dipping first.. well... as they say... BTFD...
But at the end of the day, let PA speak for itself and watch those conditionals.
Safe trades everyone!
Note
Not sure how QQQ managed to maintain bullishness when some of the tech leads dropped, like AAPL and NVDA. Probably using MSFT (which has been stagnant) and AMD (Which has been uber bullish) to prop it up.So we are kind of in an interesting situation here with AAPL and NVDA kind of bottoming already having moved to their first weekly low targets.
QQQ is heading for PH1 on the week and I don't see why, with AAPL and NVDA likely going to continue up at least back to the neutral threshold range, QQQ won't hit PH2. I think its a safe bet here...
Anyway, I day traded Qs and NQs and swinging AAPL long.
Let's see what happens!
Note
Tomorrow should be a short looking at 2 day levels:Ideal is a retrace back down to the threshold in the image above.
Note
No retrace, well... we retraced PH2 but yeah then bounced. Soooo.. straight up it is.
We are aproaching PH2 on the week.
NVDA - at weekly conditionals
AAPL - approaching weekly conditionals
AMD - fucking parabolic.
CPI showed an uptick in core inflation. Not great.
Based on this, I hate to shill a short thesis again in the midst of extreme bullishness but it is persuasive. That said, intra-day there is usually a bullish bias leading into FOMC so we will need to see where we close and open tomorrow.
Safe trades!
Note
For you QQQ players:Move is 401 to the upside or
396 to the downside.
Watch those threshold levels.
I am semi betting we could see both levels today with the volatility of FOMC perhaps.
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- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
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Easter sale starts April 18th for 50% off!
Get:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
patreon.com/steversteves
Get:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
patreon.com/steversteves
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.