The QQQ had a nice bounce this morning, up +1.40% at one point, following a rough couple weeks after breaking below the bear flag channel on Sept 13.
Bull targets:
- Bull target #1 gap @ $280
- Bull target #2 gap @ $283.50
- Bull target #3 9EMA resistance @ $285
Bear Targets:
- Bear target #1 BF measured move @ $260ish
- Bear target #2 Feb 2020 high pre-cov @ $238
Things to note:
- 9SMA sloping down on the daily is very bearish
- breaking the BF channel this aggressively means high prob the measured move plays out IMO
- RSI oversold on daily, gap fill would allow it to cool off & recalibrate, but no guarantees
- Got our first test of the June support this past Friday Sept 23
I added a few contracts to my PUT position this morning with the +1.40% bounce & will add more if we hit our #2 & #3 bull targets.
Bull targets:
- Bull target #1 gap @ $280
- Bull target #2 gap @ $283.50
- Bull target #3 9EMA resistance @ $285
Bear Targets:
- Bear target #1 BF measured move @ $260ish
- Bear target #2 Feb 2020 high pre-cov @ $238
Things to note:
- 9SMA sloping down on the daily is very bearish
- breaking the BF channel this aggressively means high prob the measured move plays out IMO
- RSI oversold on daily, gap fill would allow it to cool off & recalibrate, but no guarantees
- Got our first test of the June support this past Friday Sept 23
I added a few contracts to my PUT position this morning with the +1.40% bounce & will add more if we hit our #2 & #3 bull targets.
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.