Comments on: QQQ Sell Signal Triggered

By: TJS

TJS — Wed, 01 Apr 2020 14:34:52 +0000

In reply to natvarbhakta. Use the percentages from Randy's QQQ trade and translate into the proxy you are using to set stop and targets.

By: Coffee Snob

Coffee Snob — Wed, 01 Apr 2020 11:29:59 +0000

Great timing Randy!
I took a short position in IWM instead. Price targets on IWM or SRTY would be much appreciated.
Godspeed.

By: natvarbhakta

natvarbhakta — Wed, 01 Apr 2020 03:03:33 +0000

In reply to rsotc. What parameter psq. To short qqq. I have cash account I I am using psq to short qqq. T1. T2. T3 t4

By: gthompson333

gthompson333 — Tue, 31 Mar 2020 21:13:30 +0000

Overnight futures trading should be very interesting.

By: ra9475

ra9475 — Tue, 31 Mar 2020 21:04:23 +0000

What about the QE and Feds interfering? Will that limit any major impulsive selling that we saw in earlier?

By: FooHawk

FooHawk — Tue, 31 Mar 2020 20:52:18 +0000

Thought I would share in case you did not receive and if you use leveraged funds. Net of the disclosure is that Direxion may not be able to met the funds objectives.?

By: Foreverlearning

Foreverlearning — Tue, 31 Mar 2020 20:08:17 +0000

In reply to rsotc.

https://www.tradingview.com/x/ESNq3Rqr/

Still not a solid sell signal with pos divergence on daily? Im getting killed these past 4 days. In and out… :/

By: rsotc

rsotc — Tue, 31 Mar 2020 19:44:29 +0000

In reply to mlannoch.

Watching a textbook looking bearish setup like this, with QQQ dancing on that support all day long just reminds of playing BINGO. The board started shaping up first when the negative divergences were confirmed earlier today via the bearish crossover on the PPO (letter “B”). Then, the letters I,N, and G appeared on the board when QQQ fell to (I) and then danced on (N & G) that trendline most of the day starting around 12:40 pm. Finally, the “O” came on the impulsive breakdown below the trendline/wedge pattern although extra points are being provided to active traders that reversed from short to long on the initial tag of the 189.69 support which has been good for about a 0.70% bounce so far (and back short now as 190.87 is/was my bounce target… nice resistance).

By: rsotc

rsotc — Tue, 31 Mar 2020 19:35:32 +0000

Note: There wasn't enough space to add the arrow break between the current candle on that updated chart above and the first support where I stated a reaction was likely (189.69) as well as with the arrow break on that previous chart. However, while the odds are decent for a reaction on the initial tag from above, and QQQ has just hit & made a small but distinct bounce there so far, I suspect that the reaction will only be relatively minor in both scope & duration. Translation, active traders might opt to reverse a QQQ short position to a long in order to game a quick bounce & then back short again for the next leg down while less active/nimble traders targeting any or all of the price targets on the official trade, including another drop back down to T1, might choose to sit & hold tight for now while riding out any relatively minor countertrend bounces.

By: stockninja

stockninja — Tue, 31 Mar 2020 19:32:09 +0000

@rsotc when can we all buy you a beer or cup of coffee?? ;) Thank you for the analysis as I've had to wait the entire day for that breakdown. Hell now I need a beer after seeing so many false breakouts with AMZN and trying to wait it out.