Keep your eye on this wedge pattern for QQQ.Keep your eye on this wedge pattern for QQQ. If it closes below the wedge line, there is a good chance it falls more.
QQQ trade ideas
QQQ Will Explode! BUY!
My dear friends,
Please, find my technical outlook for QQQ below:
The price is coiling around a solid key level - 396.75
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 405.80
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
#MNQ_F quick scope analysisMarket's hotter than a third-zone loadout, ain't it? Indices pinging like UAVs, bears circling the NASDAQ like vultures around a downed UAV. Heard whispers of shorts piling on #NQ_F like they found a secret bunker full of cash contracts. But hey, never count out the bulls, right? They got more lives than a stim-addicted stim fiend in Plunder. Still, gotta watch the tape close. That price action's jittery as a heartbeat after a clutch revive. Might be time to place a short entry myself, just call it market reconnaissance. But remember, comrades, this ain't Verdansk – no second chances here. Make your moves sharp, keep your stops tight, and watch the exit like it's the final exfil. This market's a Warzone, and nobody's getting redeployed if they mess up their trades. Stay frosty.
QQQ need correctionNot a recommendation, the market needs a correction to achieve new historical peaks in 2024-2025.
QQQI'm not sure, but I tried a lot.
In general, we have two upper and lower trend lines that decide this.
QQQ Naked Analysis This entire structure is a giant correction, it will eventually going to make new ATHs the question is where is the bottom ? Based on my unparalleled unique pattern recognition analysis we may bottom out at around 220$.
What do you think ? have we bottomed
Here is the video on how i timed the market so precise:
Not an investment advice
Pump the idea with your likes
Cup pattern in QQQThere is a cup pattern in QQQ, the resistance of the previous high is already broken as well. It is ready to go up to around $570.
QQQ PullbackUsually the 20 SMA and the MACD turning bearish has been a good combination in identifying trend reversals. I think QQQ could see the 370's again.
I'm still bullish on QQQ, here's why!QQQ is repeating 2010 all over again in terms of price action:
Take note of how we fell, retested the 50 DMA, rallied, then double bottomed at $42 in 2010, before an even bigger bullish rally took place
In the worst case, expect $342 to be the absolute bottom in 2024. From there a massive rally could take place between April 29 (BTC Halving) & August (when seasonal weakness tends to kick in during an election year).
There is NOTHING to fear as long as QQQ holds above the 200 MA on the 3 Day timeframe ($337 as of writing), and if $337 holds as strong support... EVERY DIP FOR THE NEXT 120 DAYS IS A BUY!
QQQ 200 EMA Bounce PotentialQQQ is sitting directly on the 200 EMA on the 65min chart. Worth watching if we get a relief bounce Friday, or if we knife right through. Looking for a red open that goes green to take a reversal day trade.
QQQ/SPY: Descent Progress ReportIn my last idea on the Annual outlook for SPY, I indicated we would likely start the year off bearish, which has so far proved correct.
The alternative was a continuation up to high targets, but generally when we open the year closer to the high targets, it usually leads to a sell.
SPY has been slow to sell, but QQQ has been quick to sell.
Most likely explanation there is, there was major bullish positioning by small and large speculators on NQ1! (at historically high levels in fact) and major bearish positioning on ES1!.
As tech hit the ground running bearish, it likely is leading to massive long coverings which, as with short covering, creates an inverse short squeeze (Long Squeeze), where longs are covering which adds to the dramatic tumble of the future/index.
Unlike ES where everyone was mostly already positioned short, so there is no added pressure on SPY to go down.
As well, NQ/tech needed a larger correction owning to its more aggressive run up.
How much further down is the question but I can tell you its likely we haven't bottomed quite yet.
Daily volume still signaling a top on NQ, ES and SPX.
We are still over-extended on the daily timeframe.
If we look at a simple autoregressed Model of QQQ, SPY, NQ1! and ES1! we can see really what is likely to happen:
NQ1!:
ES1!:
SPY:
QQQ:
And just for perspective, let's look at QQQ on the weekly:
We need to, at the very least, retrace the centre-line of the autoregressed clouds.
Even in 2021, there were frequent retracements of this line:
Whether we go below the centreline on the weekly (we are already there on the daily) is a matter of question, but we can use some other tools to help us figure it out. For example, if we look at the 3 month levels on QQQ:
We have broken below the threshold indicating a move to 385 is likely, which also aligns with our Autoregressed cloud target.
We do have that bullish GT there, but you know, we have three months to hit it, so we really need to finish the pullback into the low range of these 3 month clouds and then we can start the recovery back up. The fast we tank, the faster we can start recovery.
For SPY:
Already shared this, but here it is again. Still has a ways to go to even just break down from the bearish threshold, but its working its way.
Your immediate target on SPY should be a move to 466.
Immediate target on QQQ should be a move towards 391.
QQQ has broken down the SMA on the autoregression clouds and this can sometimes lead to a period of consolidation before continuation. Here is an example:
My ideal place to begin my long entries is a move to the 3 month low targets. This would be fantastic and a great R:R for some major upside action.
Remember, we spent like 1 month going straight up. The indices need time to sort their S**T out, conslidate, pullback, stabilize, shakeout everyone and then continue with its overal prerogative.
My opinion, and solely my opinion and not advice is this:
1) Too early to build a long swing position,
2) Still time to build a small short swing position assuming either long dated options or shares,
3) Too late to do short term options in either direction.
Those are my thoughts, I will maybe stick to updating this idea into next week.
I have also included the next 5 day ARIMA Forecast in the main chart on QQQ.
The outer bands are the 80% confidence levels up and down. We should remain confined within these bands over the next 5 days. I have aligned them with the 5 day period on the chart.
(Side note, when I started trading with math I would trade exclusively ARIMA Forecasts and bell curve levels, then that was replaced with RPPIs and my own models, but another resolution this year is to re-include ARIMA because its very helpful and its also what big market makers use themselves, so I will be including the confidence levels and ARIMA levels in future ideas!).
Those are my thoughts! Thanks for reading, Trade safe and take care!
One thing I forgot to add, if we were to trade solely the Heikin Ashi setup, the retracement level is here:
Which also corresponds to a gap close on NQ.
However, this setup does not exist on ES.
Very curious.
QQQ is sick more fed news on Friday Short StrategyQQQ is here on a 30-minute chart showing its pivot down from a near-term high in a descending
regression channel. Advanced RSI and MACD indicators are used to better pinpoint short entries
in this downtrend especially with put options contracts with expirations every other day.
Greed has turned to fear. Those equipped with experience and risk management can capitalize
now to build capital for when the bull run resumes.
$QQQ HEADING TOWARDS 382 FORMER BREAKOUT SUPPORT NASDAQ:QQQ 382 support short term target as long as 402.91 doesn't reclaim. Short on QQQ should place a stop there with a short term swing target at 402.91
Reversal patterns at Daily and Weekly time frames!Spotting Market Reversals:
Evening Doji Star and Three Black Crows
In the ever-churning ocean of financial markets, traders navigate treacherous waters armed with their knowledge and technical analysis tools. Among these tools, candlestick patterns serve as lighthouses, guiding traders toward potential turning points in price movements. Today, we'll explore two such patterns: the Evening Doji Star and the Three Black Crows, and how their appearance on weekly and daily charts can signal a potential market reversal.
Evening Doji Star: A Beacon in the Twilight
Imagine a market that has been steadily climbing for weeks. Bulls are in control, pushing prices higher with each passing day. Suddenly, a single candlestick appears on the weekly chart, its shape unlike any before. This is the Evening Doji Star.
The Evening Doji Star is a three-candle bearish reversal pattern. Here's how to identify it:
Long White Candle: The first candle is a long white candle, signifying continued bullish momentum.
Doji Star: The second candle is a Doji, with its open, high, and close prices clustered tightly together. This Doji star represents indecision, with bulls and bears wrestling for control.
Black Candle: The third candle is a black candle with a close significantly lower than the Doji's open price. This confirms the bearish reversal, signaling that sellers have gained the upper hand.
The Evening Doji Star suggests that the uptrend might be losing steam. While not a guaranteed reversal signal, it serves as a cautionary tale for bullish traders, urging them to proceed with prudence.
Three Black Crows: A Flock of Ominous Signs
Now, let's zoom in from the weekly chart to the daily level. Here, we encounter another formidable bearish pattern: the Three Black Crows.
As the name suggests, the Three Black Crows is a three-candle bearish pattern formed by:
Three Consecutive Black Candles: Each candle must be black, indicating falling prices.
Progressive Lower Closes: The close of each subsequent candle should be lower than the previous candle's close, highlighting increasing bearish pressure.
Long Shadows: Ideally, the candles should have minimal upper shadows, signifying that selling dominated throughout the day.
The Three Black Crows pattern paints a picture of relentless bearishness, suggesting that a downtrend is taking hold. Traders who spot this pattern on the daily chart might consider taking short positions or exiting existing long positions to avoid potential losses.
Remember: While candlestick patterns offer valuable insights, they should not be used in isolation. Always consider other technical indicators and fundamental factors before making trading decisions.
The Verdict: A Powerful Duo
When identified in conjunction, the Evening Doji Star and Three Black Crows can paint a compelling picture of a potential market reversal. By understanding these patterns and their implications, traders can gain valuable insights into market sentiment and make informed trading decisions. However, it's crucial to remember that no pattern is foolproof, and a comprehensive approach to technical analysis is always recommended.
So, the next time you find yourself navigating the choppy waters of the financial markets, keep an eye out for these ominous crows and indecisive stars. They might be the harbingers of a coming storm, helping you adjust your sails and stay afloat in the ever-changing currents of the market.
QQQ Nasdaq 100 ETF Price Prediction for 2024This was my price prediction for QQQ in 2023. I was bullish, but not enough:
Considerations about 2024:
In the July 2023 meeting, the FOMC chose to raise interest rates to a range of 5.25%–5.50%, marking the 11th rate hike in the current cycle aimed at mitigating heightened inflation. The prevailing consensus among market experts hints at a potential shift in strategy, suggesting that the Fed might commence rate cuts later in 2024 as inflation gradually aligns with the Fed's 2% target. Statistically, historical data indicates that approximately 11 months after the cessation of interest rate increases, a recession tends to manifest. This pattern places us around June 2024, aligning with my prediction of a dip in the QQQ to approximately $370.
Given that 2024 is an election year, there's an additional layer of complexity in predicting market behavior. Despite the anticipated mid-year dip, my inclination is that the QQQ will conclude the year on a bullish note. This optimistic outlook hints at the onset of a 3-5 year AI bubble cycle, with the QQQ boasting a year-end price target of $460.
The integration of artificial intelligence into various sectors is expected to catalyze market growth and innovation, propelling the QQQ to new heights by the close of 2024.
