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Qqqforecast

QQQ I just went over again looking at futures. NQ RSI is screaming way overbought the market is. I spent hours looking at the charts where I went wrong. Even PCE results came last Friday with 0.6%, beating expectations. Not long right now need to cool off here, then observe again if this was the bottom or just a relief bounce. Earning was the reason the market was pumping. I'm loaded on $SQQQ no way this creates a higher high. Expect some sideway trading this week till Wednesday because CPI is on Thursday, August 10, 2022.
NASDAQ:QQQShort
by UnknownUnicorn11669057
2
$QQQSTILL A BEAR. WHY? Let me tell you one thing on my thesis why I am a bear. QQQ trend is still a downtrend; looking at economic events, it's weak. - First, the Fed tried to tell us inflation was "transitory." - Within a year, inflation hit 9.1%, a 42-year high. - Then, the Fed tried to tell us that a recession was "unlikely." - Now, we officially entered a recession. - You are witnessing the most significant failure by any Fed in history. Reference: The Kobeissi Letter "BREAKING NEWS: Q2 GDP unexpectedly falls by -0.9%, officially putting the U.S. in a recession." My thoughts on technical trading. 4hr chart screaming overbought with QQQ sitting on resistance with regression trend showing overbought signal. Also, there has been a history of 50 SMA as support/resistance (which can be seen highlighted yellow circle) Also, keep in mind bond rate is decreasing. Meanwhile, FED is increasing the interest rates to control inflation. This is called recession. ASK YOURSELF BEFORE GOING LONG HERE. IT'S BEEN ALMOST 12 YEARS OF BULL RUN WITH DIP THEN RIP AGAIN. THAT'S NOT A BEAR MARKET AT ALL; ITS STAYS more than six months. Plus, commodities going up is also a signal of recession.
NASDAQ:QQQShort
by UnknownUnicorn11669057
NQ breakout attempt Number 1In tandem with SPY , there is an agreement between the two major index that may be worth considering into the last half of the year. There is a daily wolfe wave setup , which triggered 4 days earlier than the SPY, on June 17 closing day at 11296.75. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 12942which is expected to reach this price target before Oct 10. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right.
CME_MINI:NQ1!Long
by TOSOPTION
QQQ whats next??!!It appears QQQ has found a landing zone, and may now be in the accumulation phase, Using the Wyckoff Accumulation method, I analyzed what may occur over the next few trading weeks. In the short term I believe QQQ is bullish and looking to retrace to the .618 Fib resistance ($300-305) within a few days. After that Based on the wyckoff method, it may breakdown, given the marco-economics of the entire market being bearish, with alot of fear and uncertainty amid a recession on the horizon (if were not already), and the feds hawkish aim to control inflation, we may have a sell off that could lead below previous lows, as highlighted in the chart. Strategy 1: buy $300 calls expiration 8-19-22 Sell: Target price when QQQ reaches $300 Startegy 2: If QQQ reaches $300-305 Buy PUT 21 days from expiration ideally strike of $290 Alternatively QQQ could break over $305 and continue to rally and possibly reverse to the upside despite macro conditions. DISCLAIMER: I am not a financial advisor, I do not advise anyone to buy or sell anything, these are just my own ideas for my own use, trade at your own risk.
NASDAQ:QQQ
by Wastenotime
QQQ Fed Rate Hike is Coming on June 15!If you haven`t noticed Jamie Dimon`s prediction: Then you should know that The Federal Reserve is expected to raise interest rates by a half of a percentage point for the second consecutive time on June 15. More rate hikes are likely in the coming months because consumer prices rose 8.6% YoY through May. Inflation is at 40 year high! Jamie Dimon, the JPMorgan Chase CEO: "Right now it's kind of sunny, things are doing fine. Everyone thinks the Fed can handle this." "That hurricane is right out there down the road coming our way." "We just don't know if it's a minor one or Superstorm Sandy. You better brace yourself." Jamie Dimon is predicting an economic "hurricane" caused by rising inflation , interest rate hikes and the war in Ukraine. If oil reaches $140 - 150 this year, then this is the strongest sign of a recession or if China invades Taiwan. Looking forward to read your opinion about it.
NASDAQ:QQQShort
by TopgOptions
1
Deja Vu Tooin 2021, I noticed some patterns on both the BTC chart and the QQQ chart. Now these patterns are happening again on both charts. Last time, they didn't confirm. The market bounced back up. It bounced in mid-Oct 2021 - when the fourth stimulus check hit people's banks while a ton of extra unemployment benefits were given to people. I'd say it was a coincidence, but I don't believe in those. One possible explanation was that the fourth check and benefits went into the market (just like a lot of stimulus money did). If that's true, it could have stopped the crash. This time around, there is no stimulus money coming, benefits are pretty much back to normal, inflation is up, the market is down and the Fed is done helping the market. Buyers have to show up somehow if this mess is going to get cleaned up. The inverted cup and handle is in no way confirmed at all yet. I'm posting this so I can easily track the thesis on a chart and check to see if it does confirm. If it chops around (for up to a month) around the $342-$348 range and then makes a bonafide move down past $335, the pattern is confirmed and you should grab your helmet.
NASDAQ:QQQShort
by stockpreacherman
4