Comments on: /NQ QQQ Nasdaq 100 At Downtrend Line Resistance 9-13-24 https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/ Stock Trading, Investing & Market Analysis Sat, 14 Sep 2024 05:57:41 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Mikeflegel https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33647 Sat, 14 Sep 2024 05:57:41 +0000 https://rightsideofthechart.com/?p=215216#comment-33647 In reply to rsotc.

T?anks

]]> By: rsotc https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33645 Fri, 13 Sep 2024 21:41:10 +0000 https://rightsideofthechart.com/?p=215216#comment-33645 In reply to Mikeflegel.

I check in on the comments occasionally when time permits & seeing this one (and your others) now, after the market has closed. To summarize this post, the most important index IMO, the Nasdaq 100, has rallied off support, as expected, and into the primary downtrend line off the highs, as expected and offers an objective short entry or add-on, as this is the final target of the bounce that was expected off Monday’s lows & likely where the next leg down will begin. (Ditto for the $SPX & $RUT also rallying smack into their downtrend lines off the highs today at their highs today as well).

If not, the rest of the post provides some color on how various traders with various trading styles, loss allowances, & outlook for the market might manage that position.

]]> By: Mikeflegel https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33638 Fri, 13 Sep 2024 19:31:03 +0000 https://rightsideofthechart.com/?p=215216#comment-33638 In reply to Mikeflegel.

Thanks

]]> By: Mikeflegel https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33637 Fri, 13 Sep 2024 19:10:30 +0000 https://rightsideofthechart.com/?p=215216#comment-33637 Can someone interupt this post for me please? Like before close if possible.

]]> By: Mikeflegel https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33636 Fri, 13 Sep 2024 18:52:42 +0000 https://rightsideofthechart.com/?p=215216#comment-33636 Randy. Would you mind condensing present position. Yes terday hard stop today not sure now.

]]> By: Mikeflegel https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33635 Fri, 13 Sep 2024 18:48:44 +0000 https://rightsideofthechart.com/?p=215216#comment-33635 In reply to KevinK.

We know what happened July 2007. QQQ down big for 2 years.

]]> By: KevinK https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33630 Fri, 13 Sep 2024 17:16:37 +0000 https://rightsideofthechart.com/?p=215216#comment-33630 Some traders don’t like looking at historical references concerning the stock market, but I see an eerie similarity between 2007 and 2024.

This is a comparison of the Nasdaq from those years….

In 2007 the Nasdaq had a 7% correction in March……in 2024 the Nasdaq had a 9% correction in April.
In 2007 the Nasdaq first peaked on July 19……in 2024 the Nasdaq first peaked on July 10

In 2007 after the July peak, the Nasdaq corrected 11% and bottomed with a big red candle on Aug 16
In 2024 after the July peak, the Nasdaq corrected 13% and bottomed with a big red candle on Aug 5

In 2007, from that Aug 16 bottom, the Nasdaq made a final peak on Halloween Oct 31, before crashing
In 2024, the Nasdaq is now going up from the Aug 5 bottom……

…..  TO BE CONTINUED……       

 2007 and 2024 CHARTS BELOW……………

2007
   
https://apis.mail.yahoo.com/ws/v3/mailboxes/@.id==VjN-nWqOFi0GhTQNE4WkbDgnHbvvwjvjG-bH9Oj6mlREWFhLoLieCXKFqlqa0Fmt9IgXGl2LEeEb8L4Fd0GBJs5fOA/messages/@.id==AOJYC9wXAjr2ZuRnfQlmQEYFEho/content/parts/@.id==3/thumbnail?appid=YMailNorrin&downloadWhenThumbnailFails=true&pid=3

   2024 
  
https://apis.mail.yahoo.com/ws/v3/mailboxes/@.id==VjN-nWqOFi0GhTQNE4WkbDgnHbvvwjvjG-bH9Oj6mlREWFhLoLieCXKFqlqa0Fmt9IgXGl2LEeEb8L4Fd0GBJs5fOA/messages/@.id==AOJYC9wXAjr2ZuRnfQlmQEYFEho/content/parts/@.id==2/thumbnail?appid=YMailNorrin&downloadWhenThumbnailFails=true&pid=2

]]> By: hotrodricky https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33626 Fri, 13 Sep 2024 16:46:17 +0000 https://rightsideofthechart.com/?p=215216#comment-33626 I believe IWM hit the down trend line today.

]]> By: Mikeflegel https://rightsideofthechart.com/nq-qqq-nasdaq-100-at-downtrend-line-resistance-9-13-24/#comment-33625 Fri, 13 Sep 2024 16:46:02 +0000 https://rightsideofthechart.com/?p=215216#comment-33625 Maybe making a take away at bottom of post. Like Go long till further notice? Is that it?

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