QQQ Fib Levels - just touched 2.0

3 days ago

I used to be a big advocate for Fib levels, but I feel like the lead me astray more times than helped, but none the less here is a high-level look with my estimate of fib levels. If I did it correctly, QQQ just touched off the 2.0 level. This could explain the weakness we saw this holiday season instead of the normal "Santa Claus Rally". Will we get a sizeable correction in 2025? Don't know, but there is clear weakness with some form of pullback coming. Just short term or something bigger, hard to know yet. I'm in the camp of a pump and dump on the Trump administration. How does it go, buy the rumor, sell the news. Feels like it to me.

Happy New Year!

2 days ago

Note

yesterday

Note

Spent the morning reading up on waves and fibs. Here is my complete wave analysis where it does not violate any common rules.

For a standard 5‐wave impulse (Waves 1–5, each of which also has five internal sub‐waves i–v):

Wave (ii) never retraces more than 100% of Wave (i).
Wave (iii) is not the shortest compared to (i) and (v).
Wave (iv) does not enter the price territory of Wave (i) in a normal impulse (unless it’s a diagonal).
Wave (v) typically extends beyond the top of Wave (iii), though truncations are possible.

yesterday

Note