QQQ Correction A wave completed

Annotations in chart. Currently starting B wave countertrend move. How high it gets depends on greed, hope and fear.

This could rollover ANY DAY without completing a very high retracement; not a buy entry IMO!

Not investing advice; trade at your own risk!

Commentaire:

Cup & Handle in the hourly chart on 8/9 Sep. Bearish futurz... fakeoutz?

Transaction en cours:

Flipped calls from EOD Weds and rolled into puts, flipped those; watch & wait now, might bull Friday, if not probly gonna sell again next week IMO

Commentaire:

Sold down to the .236 Fibo, could bull again, watch, no pos yet

Transaction en cours:

Short SPY looks like breakdown, confirm Friday

Trade fermée manuellement:

Made bank closed out on the double bottom intraday; might bounce IMO

Commentaire:

Gosh! Inverted H&S forming here? See if 269 holds low... not chasing this!

Commentaire:

If it won't bounce here soon it's going to cascade IMO; see John Murphy's Technical Analysis of the Financial Markets, Fig 4-10a, p.109.

Commentaire:

Start to wonder whether this is really first and second wave of a monster impulsive waterfall cascade selloff and third wave commencing week of the 14th...?!
3m Robinhood novices in new accounts holding expensive FAANGs... when the price falls below their entry level, look out below IMO

Commentaire:

Gapping up, rally back to descending TL now short at 275

Transaction en cours:

Short QQQ in 275P, SPY in 336P, DIA in 280P, all 9/25 contracts; short the 9/18 weeklies in $12 bear spreads hedged over weekend, 60 contracts in toto.

Candle is DCC with confirmation: www.investopedia.com...erms/d/darkcloud.asp

Look at the 3-wave bear flag price painted in AM trade, three drives to the top, rolled over;
Going down hard next week IMO; GLTA!

Transaction en cours:

Added 10 call contracts on UVXY $22 strike 9/25 exp; done at $2.5; in a waterfall this ETF will jump 50%

Transaction en cours:

Elected to close out the bear spreads on strong dip intraday, rather than take a chance on EOD short-covering rally and maybe another bull flag Monday... QQQ holding above 271 begs question; could this be bottom-forming consolidation? Rather miss opportunity than take a hit; holding just the UVXY calls.