Ticker: Tqqq
• Seasonality PRE ELECTION YEARS July 28th – Aug 25th (Avg return -8.45% )
• SMC
Long term market structure: Bullish
Short Term market structure: Bullish
Bullish order block: $42-$43
Bearish order block: $45.41- $45.74
Breaker Block: $43.84 - $44.10
Imbalances: Upper $46.21 - $45.70 Lower $43.01- $44.59
Bearish CHOCH: $42.44
IDM sweep: yes @ $42.51
Next BOS: $45.72
• Elliot wave: ABC Flat correction
• Price Action
Support: $44.84 AND $43.89
Resistance: $46.57 AND $46.13
Summary: As for now nothing is screaming short besides stocks being overbought on multiple time frames, yes u can short here and get lucky and catch a good drop but that’s pretty much gambling, if you do it here you will do it on every pullback and not be so lucky, go with the trend.
• Seasonality PRE ELECTION YEARS July 28th – Aug 25th (Avg return -8.45% )
• SMC
Long term market structure: Bullish
Short Term market structure: Bullish
Bullish order block: $42-$43
Bearish order block: $45.41- $45.74
Breaker Block: $43.84 - $44.10
Imbalances: Upper $46.21 - $45.70 Lower $43.01- $44.59
Bearish CHOCH: $42.44
IDM sweep: yes @ $42.51
Next BOS: $45.72
• Elliot wave: ABC Flat correction
• Price Action
Support: $44.84 AND $43.89
Resistance: $46.57 AND $46.13
Summary: As for now nothing is screaming short besides stocks being overbought on multiple time frames, yes u can short here and get lucky and catch a good drop but that’s pretty much gambling, if you do it here you will do it on every pullback and not be so lucky, go with the trend.
Comment:
warning bulls we have hit this support multiple times. use caution
