Comments on: QQQ Poised for a Pullback https://rightsideofthechart.com/qqq-poised-pullback/ Stock Trading, Investing & Market Analysis Tue, 09 Jan 2018 22:39:44 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/qqq-poised-pullback/#comment-4010 Tue, 09 Jan 2018 22:39:44 +0000 https://rightsideofthechart.com/?p=184997#comment-4010 In reply to rksleung.

Actually, I’m not “so sure” or I’d be short QQQ right now and/or have it as an official trade idea. Charts appear to indicate at least a mild pullback of 1-2% but as before, that may or may not happen. I decided to post the analysis for active traders looking for a quick pullback trade as well as for those looking to add long exposure on the next pullback.

QQQ hasn’t reversed yet although today’s slightly higher high was an extension of the negative divergences already in place on that 15-minute time frame with QQQ closing virtually flat today (+0.01%) for the first time so far since the most recent rally kicked off on the first trading day of the year. SPY also joined QQQ with a breakdown on the 15-minute time frame today following a divergent high as well & the chart appears to confirm my call for a drop of 1-2%+ over the next week or so. Right or wrong, I call it like I see it.

]]> By: rksleung https://rightsideofthechart.com/qqq-poised-pullback/#comment-4007 Tue, 09 Jan 2018 18:32:44 +0000 https://rightsideofthechart.com/?p=184997#comment-4007 This movement is very similar to the moment when it rose to around 153 a couple of months ago and then you expected it to drop to 149.5 but it never came.

Why are you so sure this time? Does today’s move in QQQ negate yesterday prediction? Thanks.

]]> By: rsotc https://rightsideofthechart.com/qqq-poised-pullback/#comment-3999 Mon, 08 Jan 2018 20:50:53 +0000 https://rightsideofthechart.com/?p=184997#comment-3999 Some potential bounce targets for SQQQ (Ultrashort QQQ) for a quick leveraged pullback trade in QQQ. The targets on the 15-minute chart below are actual resistance levels.. best to set limit order(s) slightly below one’s preferred target(s). Chances are the breakout above this falling wedge comes on a gap up tomorrow (i.e.- a gap down in QQQ)

]]>