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QQQ trade ideas

QQQ Looking to Complete 5 Waves RallyShort Term Elliott Wave view in QQQ suggests that rally from 1.5.2024 low is in progress as a 5 waves impulse structure. Up from 1.5.2024 low, wave ((i)) ended at 411.36 and dips in wave ((ii)) ended at 402.92. The ETF then extended higher in wave ((iii)) as another impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 412.99 and pullback in wave (ii) ended at 409.16. The ETF extended higher again in wave (iii) towards 424.73 and pullback in wave (iv) ended at 420.57. Final leg higher wave (v) ended at 429.85 which completed wave ((iii)) in higher degree. Pullback in wave ((iv)) unfolded as a zigzag structure. Down from wave ((iii)), wave (a) ended at 424.51, and wave (b) ended at 429.04. Wave (c) lower ended at 422.28 which completed wave ((iv)). The ETF has turned higher in wave ((v)) with internal subdivision as an impulse. Up from wave ((iv)), wave (i) ended at 426.67 and dips in wave (ii) ended at 423. Expect the ETF to extend higher in wave (iii) of ((v)). Near term, as far as pivot at 402.87 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
NASDAQ:QQQ
by Elliottwave-Forecast
1
Expect elevated volatility, with sharp swings in both directionsBrace yourselves, investors, for a wild ride next week. Strap in for a one-two punch of market-moving events that could send stocks spinning like roulette wheels. In the red corner, we have the highly anticipated Federal Open Market Committee (FOMC) meeting on Wednesday, followed by Chair Jerome Powell's press conference. In the blue corner, a heavyweight lineup of earnings reports from five out of the seven FAANG megacap companies: Meta Platforms (formerly Facebook), Amazon, Apple, Microsoft , and Google parent Alphabet. FOMC Fireworks: Hawks anticipating aggressive moves could send stocks tumbling, while doves hoping for a dovish turn might bring a sigh of relief to the market. Powell's Punch: Chair Jerome Powell's post-meeting press conference will be scrutinized for any hawkish or dovish clues. His every word will be dissected, analyzed, and misinterpreted on repeat, potentially sparking short-term volatility as traders try to decipher the Fed's true intentions. Mega-Earnings Blitz: As if the FOMC wasn't enough, five of the tech titans that have propelled the market in recent years will be releasing their quarterly earnings. Any surprises (up or down) could trigger sharp swings in their individual stocks, sending ripples through the broader market. Volatility Forecast: News headlines will swing the pendulum, potentially creating buying and selling opportunities for nimble traders. But for long-term investors, it might be wise to adopt a "zen" approach and avoid knee-jerk reactions.Remember, the market is a roller coaster, not a rocket ship. It's all about staying calm, and weathering the storm. Stay Tuned: This is just a taste of the drama to come. Stay tuned next week for updates, analysis, and insights on how these key events unfold, shaping the market landscape in the weeks and months ahead. And remember, fasten your seatbelts, investors, it's gonna be a bumpy week. GOOGL: MSFT: AMZN: META: AAPL:
NASDAQ:QQQ
by Moshkelgosha
2
QQQ TRENDS AND PRICE TARGETS, HOW MANY Q's SHOULD ONE HAVE?Technicals RSI is overextending, however, a little cool down would reset the indicators and trigger buy signals across the board. Bears should be looking for an entry, but not entering yet. Plan out a trade. Bulls should be locking in profits and looking to buy the dip. There are two super short term trends that are taking the price up. They are both rejection trends, which are trending in the bullish direction, in other words, price is going up following those trends. There is a huge rejection trend labeled. There is a mega support trend labeled. There is a strong support trend labeled, which should likely trigger a buy signal should it fall to that support or possibly dip under for a brief period of time. Above 480 starts to increase risk. it can go higher to 500, and then possibly even to 600. 500 is way more likely than 600 on this run. short term, again, could use a cool down to like 393. I would suggest to wait for this cool down to enter expecting bullish movement. With price falling to multiple strong support lines, it is a favorable trade. Price can keep going up. Don't expect it to go down. But understand, if it does, you'll be prepared for that movement, and have a trade with a high potential of profit. If you miss out on a run because you were caution, simply wait for a rejection point and jump in short. Ride the wave down, then enter your long position. In other words, don't chase the movement, let the movement come to you, let it move past you, then ride the movement in your desired direction. Linking my other QQQ posts and SPY posts I usually don't TA these because I tend to trade the 3x leveraged (FNGU FNGD is one of my favorites), and I tend to get predictions wrong on these two. Will link some old ones talking about spy to 480 in the election year. MY MISTAKE was I thought the election year was 2023, so it was way off.
NASDAQ:QQQ
by nicktussing77
Bullish energy in QQQ target $420-23I'm getting a potential bottoming here and today is a date given on 1/2 for indexes. Lots of times there's a reversal on or around dates. Multiple times I get to avoid today completely, but tomorrow may be the entry long. The price of 398-99 comes in as a potential, but that includes premarket hours. The target numbers I dowsed were $422-23 and percent was 3.9%, which comes in around $420.80. The highs are really bad on that 2 hour chart as well and suggest high odds they hit stops there at a minimum (411-12). My intuition from awhile back said to sell in February. I'm working on that idea, but it will be over 10% easy on QQQ because I'm getting it'll be 11.6-7% down on SPX. I'll post new ideas when I'm done and after we have this move up. That's just a preview :)
NASDAQ:QQQLong
by JenRz
$QQQ 2024 downside price targets + timingIt's very tough to forecast price + time and get the exact timing and price targets correct. However, I'm going to attempt to do so. Over the next year, I expect NASDAQ:QQQ to fall somewhere between 35-50%. If the move that I'm expecting plays out, we'll be right around a 50% drawdown from the current levels. The chart attempts to forecast time and price levels that are important over the coming year (2024). Each grey box represents a price level that should get hit within that timeframe. Again, this is extremely hard to do accurately. Often I do these for myself just to try to anticipate large changes in trends, but I thought I'd share this publicly as it would be fun to follow along over the next year. Essentially what I'm forecasting is one more move up before the end of the year. It should happen before Christmas, but I'm allowing myself some extra time. Then Q1 should be extremely bearish for the markets with the largest leg down during that time. There are two scenarios that I'm looking at. Either we hit the lower targets all in one move $205-218, then bounce afterwards (this scenario would be the bottom), and we'd retest that lower range in Q4. Or, we hit $246-255 and then bounce into Q2 and fall further in Q4 marking the final bottom. Regardless of which one plays out, you'll want to buy equities in March/April and then again in October/November. Q2 and Q3 we should see a bounce where you'll likely want to take profits on the way up. Let's see if it plays out as anticipated.
NASDAQ:QQQShort
by benjihyam
7
Criteria to Become Bullish on TechMid-term I am expecting a move to higher highs - 418 minimum, but possibly as high as 430s. Near-term, however, there is still some risk for further downside to around 389 unless the following conditions are met: - Red funnel is overall selling pressure, orange is local selling pressure - Green funnel is overall buying pressure, blue is local buying pressure *Best case is green path/arrow = test of local selling pressure for resistance around 409, then pullback into the buying pressure zone (green funnel) ** Most likely case is black path/arrow = pullback directly into buying pressure zone around 401 – if that holds as support then it will continue up, need that test though to have stability *** Bearish case is red path/arrow = pullback into green funnel but doesn't find support (which would allow breakdown and continuation down along the red funnel Right now tech is in no mans land because it broke the selling pressure, but very rarely does it trade outside the red or green. If tech is going to make the expected move to new highs it needs to come back into the buying pressure zone so that it has majority buyers as it tests the resistance overhead at 407, 409, and 412.
NASDAQ:QQQ
by JerryManders
22
QQQ Stochastic Phase PlaneThis chart maps out the territories QQQ will trade in, I use stochastic analysis. I've included the results of the previous moves to show how accurate this method is. For a high level description: - the colored funnel extending from a peak or valley is the local territory price will trade in - the trajectories of the same color of a territory are the expected paths that create the territory, the circles are the highest probability levels price is expected to trade in a a given time (you can see these hit exactly on numerous occasions) - the boxes are target ranges for the respective move (color coded), thick boxes are target range 2. Target range 1 is always the expected scenario, with target range 2 being a lower probability scenario -------------------------------------------------------------------------------------------------------- QQQ has just made a legitimate breakout above 366 and is trading with respect to the parallel blue channel. Notice in the previous move price stays within channel, which is common except for big breakouts or breakdowns. Most Bullish Case : 408 by 1/2/2024 Conservative Bullish Case : 408 by 2/23/2024 ** In both bullish cases QQQ needs to trade above or inside the blue parallel channel - a break below that channel opens the door for a crash setup to 324 minimum These bullish cases still allow for a near-term pullback Minimum pullback : test of the upper blue channel for support MOST LIKELY PULLBACK : to a confluence target of 369 by 11/30/2023 (4-5% drop) --------------------------------------------------------------------------------------------------------- After this pullback there are 2 scenarios: 1) Continue higher to 400s in 2024 2) Bounce to make lower high and then drop to at least 340s in early 2024 ( this is the expected scenario ) The stock market is a stochastic process, so I'll share updates when necessary.
NASDAQ:QQQ
by JerryManders
11
The Trader's Toolkit: Building a Dynamic Trading JournalJoin us in this comprehensive tutorial as we walk through the essential process of building a personalized trading journal. Whether you're new to trading or aiming to elevate your strategies, this educational video empowers you with the knowledge of why building a trading journal is a critical step in your trading journey. Learn with us, and discover why a trading journal is a crucial addition to your trading toolkit.
NASDAQ:QQQEducation
by LeafAlgo
2