The NASDAQ is also experiencing alternating days, and QQQ is looking bearish relative to SPY. QQQ is trading way below the previous all time highs, whereas SPY is trading near all time highs. The price action for QQQ has been neutral and bearish while SPY continues to trend up higher. There is a pattern of alternating days for QQQ, today is trending for a red day and tomorrow if the pattern continues we can see some green.
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QQQ has essentially moved sideways since Sept. 6, and is likely to start trending up to the yellow trendline. The yellow line is sloped downward and decreases over time so the longer it takes the lower the price target will be. For now $466.30 is a realistic target for QQQ to reach over the next […]
Read MoreNVDA has been gradually rising over time, and is now trading near $109. I think NVDA will influence the direction of the stock market. For now there is volatility with wicks in both direction, and the price action is still neutral but slightly bullish. The narrative is that the stock market is having a negative […]
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The VIX is trending up today with 9%+ gains, but is still trading near a key $21.81 resistance line. I would monitor for a break or rejection at $21.81. I think the Presidential election brings a lot of uncertainty in the markets, which leads to volatility and a rise in the VIX. If the VIX […]
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QQQ has essentially moved sideways since Sept. 6, and is likely to start trending up to the yellow trendline. The yellow line is sloped downward and decreases over time so the longer it takes the lower the price target will be. For now $466.30 is a realistic target for QQQ to reach over the next […]
Read MoreNVDA has been gradually rising over time, and is now trading near $109. I think NVDA will influence the direction of the stock market. For now there is volatility with wicks in both direction, and the price action is still neutral but slightly bullish. The narrative is that the stock market is having a negative […]
Read MoreThe VIX is trending up today with 9%+ gains, but is still trading near a key $21.81 resistance line. I would monitor for a break or rejection at $21.81. I think the Presidential election brings a lot of uncertainty in the markets, which leads to volatility and a rise in the VIX. If the VIX […]
Read More