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TQQQ

LOADING UP ON TNA TNA which is the Direxion Daily S&P Small Cap 3x leveraged is an ETF that I just came across. I usually trade TQQQ and SPXL while carrying a small position overnight in order to mitigate my risk from daily rebalancing of the leverage ETFs. TNA has run up under 980% since the COVID - 19 sell off and is approximately 40% above its pre - pandemic high. I have heard that small cap stocks will lead the charge up or down before there's a market turn in the S&P 500. I'm looking at two entry points for this ETF. My first entry point will be at $89.92 and my second position will at $71.32. Due to TNA being a leveraged ETF the goal is to take a small position relative to my account and potential day trade the TZA (the inverse) or TNA with a larger position. I am very bullish on the market and I am loving the pullback that we are experiencing. Based on past analysis, TNA hit a resistance and then pulled back towards a support at $71.32 before breaking through its resistance - and now support - at $89.92 creating a new resistance. The sell off from the resistance at $104.14 looks healthy but I am looking for a bounce off of $89.92 here. TNA is holding its 15 and 50 day EMA strongly after breaking below its 5 day EMA. I will cut my position and turn bearish on TNA if we break below the 50 day EMA. This is the first post that I have made and I am looking to create more whether my analysis is correct or wrong. Thank you in advance for any feedback that readers provide me with as I am looking to do this full time!
AMEX:TNA
by madisonsoun97
3
TQQQ Next stop 95! Charts don't lie!!Some great 5% shorts the last 2 days. Rinse and repeat. Tomorrow we are looking for it to touch at least 100 maybe 95. The big guys that move the market are slowly bringing this back down to reality. You can see the green down candles, the last two days. Definitely a pullback, but could be more. I marked two key areas on the chart that will likely be hit tomorrow (price point and RSI). Charts don't lie, so do not be fooled by the big boys manipulating your thoughts through the media and forums. Be careful what you read. There is most likely a motive. This year is a perfect example. Try learning before paying for a service. To win you have to learn and be disciplined. Please do your own due diligence as this short is for my current situation. Question or comments are welcome. Trade to Win!! Protect your profits!! Hard work = Good Luck
NASDAQ:TQQQShort
by PETEYboy
7
NASDAQ Elliot Wave Count - Finally time to short?Okay, I have been calling a top for the last week or so. I posted an idea earlier about a double top in the NDX with lots of charts. Here is a more detailed version of my Elliot Wave analysis and why I think this is the end for the NASDAQ. Sure I could be wrong and feel free to poke holes in it. It is the best guess I have right now and tomorrow something could completely alter this idea, because those pesky hedge funds like to screw us over in the after hour sessions. I use a standard set of fib levels for wave, which is 1.0, 1.618, and 2.0 (waves 1, 3, 5). I make adjustments to wave 5 based on wave 3 ending. Here is the 1M. Note that Wave 4 typically retraces less than 0.382, which is exactly true for the 2020 March low. If wave 3 ended around 2.0, then wave 5 should be around (2.0/1.618)*2.0=2.47. NDX is above that at 2.854. Also note the almost vertical slope since last year. Lets move into the 1W. You can see the NDX starting to roll over in the last several candles. Now the all important 1D. Here I use my handy-dandy cRSI+Wave indicator to help determine the waves. I see nice 3 step up to the June peak. Note how the cRSI shows a "strong" wave followed by an "A", a "B" (in this case the indicator shows a "weak" peak), and followed by a "C" (here we see another "A"). This is typical for very strong rallies. One day I will get around to fixing this in the indicator. When you pick a Wave 1, you should see a nice alignment with a 0.618 fib and another clear peak, which we have on April 17th. Should also find a nice peak around 0.382 or 0.236, which we have. I am 100% confident that June 10th is the end of Wave 1. On the 1D chart I exclude the wicks and shadows for aligning the fib levels. Now we need to look for a Wave 3 around the 1.618 level. Sure enough the big rally in August gives us a nice candle wick to 1.786, which is normal for a very bullish rally. I also see a really nice peak at the 1.382 fib level. The alignment to fib levels is looking spot on to me. We get a nice correction following this rally, which is another good indicator that a major wave was just finished. Now comes Wave 5 and is showing a clear impulse pattern to give us an ending diagonal pattern. The rebound in Oct serves as sub-wave 1. Lining up the fib levels like before (note the nice alignment to the 0.618 fib) we see a nice wave 3 ending around Jan 4th. This time we see a perfect ABC pattern in the cRSI+Wave indicator (NDX not quite as bullish as before). You can also see the tell tale signs of a rising wedge pattern that defines the ending diagonal. Since we tagged 1.618 perfectly, we should be looking for wave 5 to end around 2.0, and I see a 2.146 (green fib). Looking back at the fib levels off the March low (black) we see the NDX touching the 2.146 level also. That is two wave counts converging in the exact same location and both at 2.146. In addition, to me it looks like a double-top pattern forming after last weak's sell off. What's more, the NDX is also just touching a 2.854 fib level based on the dot com as wave 1. You can also see that major orange resistance line I drew off the dot com bubble high. That is an amazing amount of lines all meeting in the same location. Maybe the NDX will see that as a challenge and break it just to screw us all one more time. I think more than likely it will churn around for a few more days trying to break through and eventually make a sizable pull back to gain more support before trying again. Hope it helps and good luck.
TVC:NDQ
by Dr_Roboto
3
NASDAQ Dot Com Bubble 2.0 is almost complete (mid-January)!!!The chart says it all. There is no stopping tech until it reaches the top of that channel some where in mid-January (Jan 19 on current slope). We all know this market is built on fairy tails and unicorn poop. Will the markets stay irrational and take us even higher? Will we finally see the return of common sense and fundamentals? I have been saying this market is a bubble for months and it still went up, so why stop now. I would expect a serious pullback at that trend line either way! If the markets wants to go above it is going to have to make it more attractive, which it will do with a nice correction and consolidation. RSI on the 1M Support trend line to the top Several key trend lines
TVC:NDQ
by Dr_Roboto
15
Sharp 🪒 drop 📉 on NASDAQ: How i will play today sessionHi guys sharing just my thoughs of my today market gameplan. Today wil be crucial Non Farm Payrolls and Unemployment Rate numbers in conjuction with wednesdays sharp decline in ADP Non-Farm Employment Change. The long term unemployed rise sharply: static.seekingalpha.com Total payroll growth accelerated sharply immediately after the lockdowns were lifted, but has since slowed. This makes tomorrow's jobs report that much more important. A decrease would be very bad as it would confirm the drop in the ADP report from wednesdays, while also indicating an abrupt change in the underlying economy. static.seekingalpha.com So this could be some kind of catalyst of move today and next week.
CME_MINI:NQ1!Short
by Tomasgei
3