this might be the trendentertaining purposes only
Down Trending Channel, buy and sell points are easy to find.
Qqqtrends
QQQ Thoughts about a big price dropThese are my thoughts for QQQ
In yellow is the structure that is common in two places
In green is the extension from that structure
Both are very similar in length (time wise)
Using this we can apply it to the second "structure"
If we apply a big price drop (bars pattern) it shows a large wedge structure with three bottoms along the wedge.
Short / medium term this would be very Bearish. However, long term a formation like this is setting up price for big times.
The ultimate entry point if this plays out is along the bottom of the wedge (dotted line)
QQQ prediction for few months laterHelloo traders, here is my analysis for the triple Q chart and I believe it will continue growing steadily in the long run but it’s volatility will keep being higher than previous years as it was this year. I believe if the stock market doesn’t crash in the upcoming early 2022 crisis stocks will survive:)
02/26 QQQ / TQQQ Bounce -RSI don't lieYou can see from the Daily chart going back to last Feb 2020 that all the Highs and Lows have been supported exactly when they touched RSI channel. To me this is buy-time but please do your own research. This is for my own personal trading. Covered my shorts yesteray and switched to long until the chart tells me otherwise. Comments welcome.
TQQQ next target 121. RSI and price support achieved. Those who have followed my last posts on shorting hopefully have made some $$. We have had 4 great swing days down. Tomorrow let's swing our partner back up after that 4-day dip.
We should bounce tomorrow and start climbing to achieve our next high around 121 to complete wave 5. Divergence on price and rsi with charts lining up perfectly to support our next high. Catalyst will most likely be approval of Government stimulus or decrease of long-term Treasury yields that will give it enough of a push to the next high around 121 before plunging to new lows. This could be a slow up and down climb that could take the majority of the year before we crash!!!
This is NOT investment advice. Please do your own due diligence!! Questions or comments welcome.
Listen to the TQQQ Megaphone "SHORT ME"Looking at the TQQQ hourly chart, you will notice that the megaphone is showing reward to the downside around 56. The upside is limited to about 114 area. What is the logical play? Comments?
Also the Yearly RSI is touching 80. What happened last time yearly RSI touched 80? Feb 20, 2020, Sept 2020 Kaboom!
Please do your own due diligence these are just fantastic recommendations!
QQQ as of 12/30/2020 @ 0945 ESTQQQ is currently hovering around it's all time high established on Dec 08, 2020. There are several factors at play (in no particular order):
1. Congress is negotiating a potential increase to the previously approved stimulus plan, to provide $2000 weekly checks instead of the agreed upon $600. The GOP controlled Senate is pushing back against the Dem led House and Trump, the latter of which surprisingly supports the increase. However, it is unlikely that this will be approved by the GOP Senate.
2. The COVID vaccine continues to be rolled out, but the news is at times mixed. There has been some negative reactions to the vaccine. In addition, mutations of COVID are being discovered.
3. There is a supposed rotation out of tech to small-cap and the performance of small-cap (S&P 600 small cap OR Russell 2000) have seen outsized performance since the rotation began. This suggests that smaller companies will prevail in the coming recovery, when lockdown eventually ends. It also remains to be seen how tech will perform after the pandemic and how day to day life changes with respect to reliance on these technologies.
4. The top holding in QQQ is Apple, representing 13.39% of the fund. Apple has had some positive news recently.
5. The Georgia senate run-off is a race between a GOP or Dem controlled senate. There are two seats in the run-off and the Dems need both to achieve 50 votes; with a Dem VP, the tie-breaker votes will go to the Dems. However, it is still all unclear how this factors into the market. Investors may prefer a GOP led Senate as this likely eliminates the potential for Progressives in the Dem wing to push for radical changes in government spending and taxes.
Simple ANALYSIS (QQQ) : Maybe a PULL BACK on the supportThe market has a strong bullish potential, and could reach 315, if the next candle is bearish it could come back to make a PULL BACK on its support then start again on the rise.
💵 Attacks Major Level Of Resistance (QQQ)💰 LET'S GET INTO SOME QQQ ETF ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) Neutral 🤷♂️
- 3day Chart
- Green Engulfing Candle
- 3/3 EMA DOTS Green
We are aware on the 3day on big players like the DOW and SPX500 we are starting to see potential shift for selloff as they start to compress and shift red, but we won't have a close till the end of the week. QQQ is still firing massive green candles with all indicators still green. This week close and next week should show us a nice trend reversal range to watch closely on the market to see how we approach for a longterm play. What can we take into consideration for potential bear signs. We are entering into overbought territory based off the bottom indicator and we can take into consideration that we are now hitting the top of the alltime upward Resistance from all major market structures.
Best of luck to you and all of your trades this week! 🤜
Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤
Thanks for checking out our analysis! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
