Comments on: QQQ Poised to Reverse & Rally Into the Close

By: kcao0228

kcao0228 — Sat, 21 Apr 2018 01:47:27 +0000

In reply to kcao0228. I guess I am just wondering what are the associated time intervals a move should happen based on the size of the candle?

By: kcao0228

kcao0228 — Sat, 21 Apr 2018 01:43:42 +0000

In reply to Dean Drummond. Hey Randy, I am new to the site, are you predicting the bounce purely because of the 161.66 level? From what I am interpreting from the emacd and RSI on the hr, the emacd isn't hinting a bullish crossover and is below the 0 level while the RSI has a bit way to go before it drops below the 30%. Thank you for your videos.

By: Dean Drummond

Dean Drummond — Fri, 20 Apr 2018 20:18:43 +0000

In reply to Dean Drummond. We've got 162.61 in the AH session on QQQ so far as the late-session rally extended after the close. Hoped to shut down at 4:00 today but will hold out until 5pm on the day trade position to see if we can continue just a little higher before closing that out for the weekend.

By: hengliu0714

hengliu0714 — Fri, 20 Apr 2018 20:10:12 +0000

In reply to Dean Drummond. LOL! That sounds confident! Have a great weekend Randy!

By: Dean Drummond

Dean Drummond — Fri, 20 Apr 2018 20:02:19 +0000

Not the full bounce I was looking for but QQQ still managed to rally & close 0.40% off the lows. To be continued next week (for real this time) ;-)
Have a great weekend!

By: Dean Drummond

Dean Drummond — Fri, 20 Apr 2018 19:55:57 +0000

If they can't rally it soon, then this scenario on the 5-minute chart could play out early next week. Have to say that I'm a bit surprised not to see a more impulsive bounce so far which indicates there were a lot less shorts in the market wanting book profits & reduce their exposure over the weekend than longs that want out. Daily charts not looking so hot but I'm still going home with a small long position as QQQ is poised to close right on primary uptrend line on the weekly chart. A simple backtest or will QQQ regain that TL? We should know by the end of next week.

By: stock51

stock51 — Fri, 20 Apr 2018 19:52:06 +0000

thank you
went long QQQ into MAY

By: Dean Drummond

Dean Drummond — Fri, 20 Apr 2018 19:39:14 +0000

In reply to Dean Drummond. The machines should be kicking in any minute now...

By: Dean Drummond

Dean Drummond — Fri, 20 Apr 2018 19:35:13 +0000

If I'm right on the late-session bounce, watch the speed in which QQQ can rise once the algo's & HFT hit the buy button. If we do get a late day ramp, min. target is 162.90 (actual resistance, best to set sell limit order just below that level), about 0.70% above the lows so far.