Opened SQQQ position today in expectation of NASDAQ heading lower. If NASDAQ gets below the purple zone, I am expecting a crash where it heads down to the bottom yellow zone. My current play on SQQQ is marked on the charts.
if 48.20 holds off the open, I will be looking to go long off of a retest of the area. There are two levels of resistance that may make this more of a swing trade if we barcode in consolidation or capitulation. Lot's of earnings data this week and Wednesday Fed, hawkish stance. MSFT had some negative action after market with a host of other Blue chip tech...
Based on the current momentum, I rather bet on the 1st possibility and keep in mind that 2 could be the alternative! How about you? Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA , an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on...
SQQQ I was waiting and waiting on this one and we all knew it was going to come and it finally did. My last charts are now useless now that they did a reverse split on the thing 5:1. Well if they did not do that then it would have dropped past a buck and been delisted eventually so they had no choice. Maybe I am a broken clock who is right twice a year but I will...
Supports broken. Same thing on AMEX:SPY , including his EMA. Even the best indicators got difficult to be read. We clearly are going out of our 15 months channel. Things start to be hazy. I hope you made a lot of money on the past two years because it's becoming trickier. My take home message would be: " There is time to go long, time to go short...
The reason I added 'so far so good' to the last post was that it was running up and a few days later it broke up above $7 as far as xmas rally It looks like I was off by 2 days. Usually when SQQQ goes below the green line (50 day moving average) it pushes up to the 100 day moving average (the slower Blue Line). This is not an everyday thing - it last did it a few...
broader market health permitting we should be finding a lower high in sqqq and retracing back into the channel below mean regression and vwap should we set a lower high than 6.15 and break 6 convincingly i wouldnt be surprused to end up around 5.92
hedge action has added to the price of short room for bulls to work with. we will probably test some area above postmarket lows and move higher in the beginning of next week
The S&P has proven itself a safe haven over the years and will likely continue doing so. There are a ton of reasons why the markets should collapse, nonetheless here we are rallying into the sunset. Taking a step back on the logarithmic scale we can see the pattern clearly. We are in the midst of a 3rd wave up with plenty of room to run... but where to? Near term...
This is a demonstration on how doomer bears are always too early. Everyone knows it's supposed to crash soon, so they load up on puts and the options are too imbalanced to let it fall. Instead the puts get squeezed at options expiry and the prices flies up. Once again we just saw a huge Head & Shoulders pattern bounce near the neckline and trap bears expecting a...
SQQQ is gunna have a Santa Rally time to go all cash for 3 days sometime soon.
Betting against the market has increased significantly! In the past 2-4 weeks the volume of the 4 inverse ETFs has increased significantly (+2x)! This means lower prices are more likely! What could happen in the next 3 weeks if prices pass the Red lines? Market Reversals and the Sushi Roll Technique: In his book "The Logical Trader," Mark Fisher discusses...
Trendlines down can be directly seen to be acting parallel to each other With price being above each of the down trend on each It looks like the 50MA will be the savior for price very soon Trending downward -> Soon to be bullish
It starts to look like a head and shoulders. Look carefully at the levels, on the previous year each time the line was crossed, the trend tumbled toward the support. By the way I am resolutely bearish since friday (due to my technical indicators, which were the subject of my last post).
tran stayed above it's 100 moving average on the weekly from 2012 to 2020, its giving up now on recovering back above it.
There's a rising wedge and a potential early C entry for an ABCD that could take us down to the 78.6 or even the 88.6 if things get bad. I think it's safe to say that if the Nasdaq goes down this will go down twice as hard.
crab like pattern + Rsi divergence + candlestick confirmation + trendline break + inflation fears, higher yields, lower bonds =dumpage of stock holdings -----> long $sqqq calls one lockdown away from a major correction
Zigzag, broke floor, negative momentum, the trend continues. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore...