Comments on: /NQ & QQQ 5-Minute Wedges

By: George

George — Thu, 01 Sep 2022 12:25:03 +0000

Are you still long QQQ this morning?

By: KevinK

KevinK — Wed, 31 Aug 2022 04:54:56 +0000

Randy, does the friday jobs report affect your short term bounce premise ?

By: Mikeflegel

Mikeflegel — Tue, 30 Aug 2022 19:01:43 +0000

In reply to rsotc. Thanks Randy I've been getting stopped out today by not leaving enough space . Is there any way you can give us a lesson on stops in general. Very helpful

By: Hagleboz

Hagleboz — Tue, 30 Aug 2022 18:33:05 +0000

In reply to rsotc. Randy and thoughts yet on a bounce target? That's a lot of resistance levels you've mapped out. Also any thoughts on time frame for this bounce, days/weeks? My main focus is on swinging to the June lows but I've also been playing some options (mostly already sold off) too.

By: rsotc

rsotc — Tue, 30 Aug 2022 18:21:35 +0000

I should have added that my key 296,35ish support level on the 60-min chart of QQQ is less than 70bp (7/10th’s of 1%) below today’s low (from when the post above was made).

As such, one could certainly use a stop about 1%+ below today’s low, ideally on a solid 60-minute closing (candlestick) basis vs. a stop slightly below today’s lows, especially if targeting one of those higher targets.

By: becky

becky — Tue, 30 Aug 2022 18:06:53 +0000

This is critical. Thanks for the timely update. Watching the same good old divergence.