$Invesco QQQ Trust-ETF(QQQ)$
Last week we talked about island reversal pattern spotted and how we are likely about to head down.
This week it was spot on as we closed almost 3% down on and slightly over 2% on . Fantastic week our guys! Nailed the top and bottoms.
The pattern has been confirmed with also doing that long awaited bounce since we spotted the bottoming process many weeks ago.
VIX is oversold on monthly charts, weekly chart finally crossed bullish as warned on last week's video that its about to do it soon causing a huge spike on VIX. The next move for VIX can go up to the 30s and higher. So this move will likely not be corrective.
Flows have changed since june OpEx as I have been saying for past 2 months and July OpEx was a perfect example where we closed down instead of up.
Still not sure what to spot for in the upcoming week?! Watch the video now and stop missing out!
As always, trade safe and invest wise!
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Video Link:
https://youtu.be/Fm8gXrMWchQ
Comments
离NVDA还有7天,我的直觉告诉我,他们会喜欢类似的收益后反弹,而不是收益前运行,如果指导听起来不太完美,就卖出。随着aapl拖累指数下跌,想想在NVDA之前370是困难的。
现在建立任何股票的多头头寸都是糟糕的财务决策..市场周期你想在52周低点买入最好的股票,这个市场定价过高,超卖..
Suggest moving money from nas to dow. ratio of dow to nas is at bottom of trendline, r-squared = 0.92. switch back to nas when dow hits 39K or 2.8 X nas. Dow is set to rise over the next 8 months.
qqq was $281 at the time of this post, then went up to $387, tsla was $131, went up to $299....
who knows what direction the Nasdaq will go in Monday. That being said, I do not see any immediate barriers to gains. Earnings are doing surprisingly well.
I still think temporary bounce at 360 if not permanent. Might be good day trade.