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AwesomeAvani
27 Mar 2024 17:05

QQQ Is it topping before a crash or setting up a correction? 

Invesco QQQ Trust, Series 1NASDAQ

Açıklama

QQQ is on a weekly chart. Only the pundits, soothsayers and headline readership volume seekers

know for sure. Will not the upcoming elections prop things up? Buy in March April and May

and then go away? Is this spring coming up roses or instead dandelions?

Yorum

On a lower time frame of 50 minutes- QQQ is a slightly unflat triangle and / or
a rising wedge.

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On a 15 minute tme frame. price is near to the bottom of the wedge at the support

ascending trendline where it can reverse and move up inside the wedge or

breakdown.

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SPY may be on a similar trend

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IWN appears to be lagging and hanging tough

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Small caps have the best room upside IMO

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One strategy might be to focus on small caps in what might be one of the hottest sectors of biotechnology and medical technology for instance price less than $20
market cap less than 5M and volatility greater than 5% per week and relative volume greater than 1.5X the moving 20 day average.

Yorum

QQQ finished out the week. month and quarter sideways. Onto April.
Yorumlar
Aluminiumati
Eyes on IWM ;)
AwesomeAvani
@Aluminiumati, for sure and TNA as well
Aluminiumati
Not yet. 2 early.
AwesomeAvani
@Aluminiumati, I think smart money is building positions incrementally- take a look at the options chain.
amaloyz
agree
AwesomeAvani
@amaloyz, crash ( >20%) or correction (10-19%) ?$?$?
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