Comments on: QQQ: The Third Time’s A Charm?

By: Swingisking

Swingisking — Thu, 17 Sep 2020 14:16:46 +0000

In reply to rsotc. Hello @rsotc Do you think the drop in QQQ will have an effect on the coal sector? I'm trying to evaluate if I should get out of my near term long positions in the coal sector

By: rsotc

rsotc — Thu, 17 Sep 2020 14:02:58 +0000

In reply to rsotc. To add to my previous comments (about it not being an objective time to short around the open today when QQQ & /NQ were trading at support), this 1.12% bounce in QQQ since the open, although not at resistance, provides an objective albeit somewhat aggressive short entry or add-on, One could also scale into a QQQ short here adding up to but not above the 275 level as that "should" contain any bounce off the support levels hit early today, assuming that support is going to be taken out soon.

By: rsotc

rsotc — Thu, 17 Sep 2020 13:27:04 +0000

In reply to zoltan. Possibly but when using signals on a weekly chart, all that matters is whether or not that signal has been triggered by the end of the week & a lot can happen between now & tomorrow's close.

By: rsotc

rsotc — Thu, 17 Sep 2020 13:17:32 +0000

Keep an eye on the FAAMGs today, especially the big 3 (AAPL, AMZN, & MSFT) including that uptrend line on AAPL/recent lows that I highlighted in the video. TSLA also has a trendline off the mid-May lows that would likely usher in a big drop if/when taken out with conviction. As I like to say, support is support until & unless broken so as of now, this is simply a test of key support on QQQ & AAPL so not an objective time to short. Objective short entries come on rallies back up to resistance (such as we had early yesterday) or on solid breaks of support, ideally impulsive breakdowns.

By: zoltan

zoltan — Thu, 17 Sep 2020 13:15:58 +0000

Could the PPO cross on the weekly today?