SPY WEEKLY JUNE 17 2024SPY weekly is here. If you have any doubts make sure to DM me here. All the crucial levels have been discussed in this analysis.
NOTE: MARKET IS BULLISH & RETRACEMENT CAN COME
QQQ
QQQ Will Collapse! SELL!
My dear friends,
QQQ looks like it will make a good move, and here are the details:
The market is trading on 479.18 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 463.82
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
Natural Gas, Bitcoin & QQQ : Whats the next trade?Natural GAs has had a nice pullback over the last few days.
Are we going to see this correction go deeper than the last pullback?
Potentially we are observing a failed breakout on the daily chart.
Bitcoin: has triggered bearish formations on the hourly chart.
Sitting right at intermediate support, BTC needs to hold the 50MA or run the risk of flushing lower.
BTC is still chopping in a sideways range that favors lower price action until we break the neckline.
QQQ / Nasdaq : In the strongest uptrend. This looks likely to push a bit higher but its nearing major resistance in a very extended move.
QQQ: Short Trade with Entry/SL/TP
QQQ
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short QQQ
Entry Point - 479.18
Stop Loss - 489.67
Take Profit - 457.67
Our Risk - 1%
Start protection of your profits from lower levels
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SP500 I am moving to a 90% short today on any new high 5370I will now move to a 90 % long in the money puts in spy and qqq for march 2025 on any new high today . I see the wave structure ending a nice 5 WAVES up and I am worried about the DIA formation it could be a wave B if this is right then we will see a sharp decline on NEWS over the next 10 td and drop 3.5 to 5.1 % Vix also should see a new LOW .SO I am moving short today
Dow 'Big Yikes' moment as it gravely lags behind BigTech rallyA stock-market rally concentrated on an ever-narrowing cohort of tech stocks is leaving the Dow Jones Industrial Average behind as the Nasdaq Composite (IXIC), Nasdaq-100 hit records, making investors nervous.
The scope of the divergence on Wednesday, with the Nasdaq-100 finishing posting a 1.33% gain versus a 0.09% fall for the Dow DJIA was particularly troubling.
This is quite rare moment as the Dow posted a daily close more than 1.0 percentage points below Nasdaq-100 Index and more than 0.9% below S&P500 Index.
That is a 'Big Yikes' moment.
It's largely a statement on very bad breadth of the market, as we're incredibly reliant on just a very small number of names.
The rally more recently, he noted, has been driven largely by longtime AI favorite Nvidia Corp. (NVDA), and Apple Inc. (AAPL), which has surged nearly 9% this week as it outlined its own plans to add AI to its products.
The Super concentration is manifested in any number of breadth statistics, which track how many stocks in an index are participating in a move, including the percentage of stocks at 52-week highs versus 52-week lows and the percentage above their 200-day moving average.
For example, just one component of SP500 Index - that is Nvidia.. had accounted for 35% of the increase in the S&P 500's market cap in 2024.
Such a high concentration implies that if NVIDIA continues to rise, then things are fine and dandy.
But if it starts to decline, then the market will be hit hard.
Overall, presidential-election years tend to be strong ones for the market, particularly in the fourth quarter. And years that begin strong also tend to hold up.
But everything could end, earlier or later.
The main chart is the ratio between Nasdaq-100 (NDX) and Dow Jones (DJI) Indices. That indicates that June quarter posting an extremely new historical high between these two Major indices, first time over the past 25 years.
A very historical times we live.
BIG MOVE! SHORTS TRAPPED! What's next?Based on the chart analysis, the rising wedge pattern signals a likely bearish correction in the short term, with the price potentially testing the 0.618 Fibonacci retracement level around $518.36 as a key support. However, the Elliott Wave projection suggests a bullish reversal toward point (C) if support holds, indicating a medium-term upward move. Traders should watch for confirmation of support at the 0.618 level and look for signs of reversal to enter long positions, targeting the previous high around $532.99 and beyond. We must stay above $524.71 to escape this wedge channel and maintain the potential for an upward breakout. Maintain vigilance for a break below the 0.618 retracement, which could signal further downside risk.
Leave a comment of what you think about where the market is heading!
NVDA a 5th wave of something ???NVDA I am posting a weekly chart as to be clear We are ending something something like 0ct 1998 low /oct 2022 and rally into a 5th wave like 2000/2024 2025 is STAGFLATION I stand by my work always
Google is looking bullisbThis chart looks way bullish. I il do the breakdown soon.
If you have any doubts you can DM me here
QQQ still confined to the trading channel since 2010The blue trading channel has been a very reliable resistance since 2010. You can see the many times that it has confined price action, only being broken during the COVID bubble. My guess is that it will continue to be resistance. We will likely see a repeat of the action from 2015 and 2018 where price will slowly work sideways but ever so slightly higher with numerous pullbacks until we see a large pullback to the support side of the channel.
Here is what the action looks like on the 1D. You can really see the price trying to break out, but as we saw back in April, it ultimately lost and we had a nice pullback to buy into.
$TSLA GOODBYE :( $150? Lower Lows?We will find out. 10D chart suggests either a huge pop or ... a huge dump to fill that lonesome wick with a full sized body of a red candle. Good Luck my friends
Members Daily Analysis June 9 2024Markets Sold off on Friday...just barely.
Interest rates surging. Dollar above 105
FOMC Wednesday at 2pm
CPI Wednesday 8:30am
Energy: Oil, Uranium & Nat Gas setting up for some trades.
Macro Update: Stocks, Bonds, Yields, Housing, UnemploymentStocks are in a bull market.
Bonds are in a bear market.
Unemployment increases to 4%
FOMC & CPI on Wednesday.
Yield Curve remains inverted. Longest in history.
QQQ Set To Fall! SELL!
My dear subscribers,
This is my opinion on the QQQ next move:
The instrument tests an important psychological level 462.97
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 450.36
My Stop Loss - 470.53
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
QQQ: Expecting Bearish Movement! Here is Why:
Balance of buyers and sellers on the QQQ pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
❤️ Please, support our work with like & comment! ❤️
Trade Like A Sniper - Episode 26 - QQQ - (8th June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions.
A couple of things to note:
- I cannot see news events.
- I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range.
- I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks
In this session I will be analyzing Investco QQQ Trust (QQQ), starting from the 4-Month chart.
If you want to learn more, check out my other videos on TradingView or on YT.
If you are interested in private coaching, feel free to get in touch via one of my socials.
