$QQQ - wave 5 top approaching
There appears to be NOTHING that can deter this market. I am not even going to bother with a true bear count anymore, because my favored count is already what I think is the bear count (entering wave 5 - higher 1 territory - 60% retrace coming). Over the top bulls have us extending with QQQ into 400, and I just dont think that will happen on this leg up, it will happen on the next.
Right now I have the count as follows:
wave 1 and 2 got put in back in early October, wave 3 hit perfectly at the 161.8 extension. Wave 4 was shallow and tagged the 14.6% retracement at 372. Now we appear to be extending into wave 5. Need to be careful up here because once we tag that top we are going to see some blood for probably a week, maybe 2 until we get bottom (depends how deep we go). Don't be surprised when this drop is just another OpEx front run. I wouldnt be shocked to see it this week, or next. From there we will get a very buyable dip. My expected top falls within 388-395, but it could come at any time.
Remember - in this last hurrah up, all 3 - 7 - or 11 swing corrections are a buy long.
Right now I have the count as follows:
wave 1 and 2 got put in back in early October, wave 3 hit perfectly at the 161.8 extension. Wave 4 was shallow and tagged the 14.6% retracement at 372. Now we appear to be extending into wave 5. Need to be careful up here because once we tag that top we are going to see some blood for probably a week, maybe 2 until we get bottom (depends how deep we go). Don't be surprised when this drop is just another OpEx front run. I wouldnt be shocked to see it this week, or next. From there we will get a very buyable dip. My expected top falls within 388-395, but it could come at any time.
Remember - in this last hurrah up, all 3 - 7 - or 11 swing corrections are a buy long.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.