@rsotc no need to reply back… I just want you to see that’s all. thank you!

this one is zoomed in closes to top

@rsotc sorry did not check your reply soon but here is the chart by TOS its automatically show you the pattern. seems like its about to back test it from the bottom. Daily chart

Yeah I figured last night. Now I am a long term investor. If I loved it at 3 and change, I should love it even more at 2.

I was away from my desk until just after lunchtime & posted this update shortly after I returned: https://rightsideofthechart.com/stock-market-faamg-analysis-10-30-20/

With it being Friday & the indexes still coming off deeply oversold readings with divergences to boot (near-term potential bullish developments against a backdrop of bearish developments on the daily & weekly charts), best to keep things light heading into the weekend & see where we pick up on Monday. Volatility heading into & immediately after the elections was to be expected & volatility can cut both ways (down hard one day, up big the next). I can’t make a strong case to go home aggressively short or long over the weekend but did list some levels to watch & potential targets in that video.

268 is decent (good but not solid) support so I’m leaning towards a tradable bounce off this level although, with 30-minute left in the trading session, it’s probably not going to happen today. If we take out 268 with conviction next week, the Q’s are likely to make a run down to test the Sept lows around 260ish.

I was aware from my desk the first half of today but you’ve probably seen the video that I posted after I returned. If not, QQQ & /NQ have both falling to decent support around 268 on QQQ today with bullish divergences on the 60-minute charts. That helps to make a case for at least a short-term bounce although there are some bearish crosswinds on the more significant daily & weekly charts, such as the very big red weekly candle that will be finalized at 4pm today.
My best guess is a bounce from here (QQQ at 268.50 as I type) into the close and most likely into Monday as well. Potential bounce targets were laid out in the video with a current max. bounce target of the 60-minute downtrend lines on QQQ & /NQ although I have to say that my convictions on a bounce are not very high. Quite a few big momentum stocks plus some market-leaders (as well as the semis) breaking down recently.
Bottom line: the “safe” bet to book those quick & relatively big profits on that QQQ short before the close today to not risk giving back a lot of profits on a potential gap up on Monday. Option 2 is to lower stops & let the position ride as there could be considerably more downside in the coming weeks as the bearish case continues to solidify recently. Best of luck whichever way you go.

Are you able to post a chart showing the wedge you are referring to? I have a trendline off the bottom of the April 6th candle with SPY breakdown down below that trendline on Sept 4th. Is that the bottom of the wedge you are referring to or another uptrend line?
If I use that lower TL & the divergence line above it, SPY already hit the measured target on the initial correction following the breakdown. If you are referring to another wedge, let me know & I’ll take a look.

I jumped out for a tiny profit. Going into the weekend with no positions.

Axgt shares are trading lower. The company announced it sees delayed enrollment in its Parkinson’s study due to delays in manufacturing