QQQ IS DOING GOOD BUT UT DIDN'T BREAK THE 2000 yr high yet. Well even if do so but in coming months it will be a choppy trade as the RED line will act as resistance and the green line will act as a temporary support. And then the Black line will act as a temporary support. After that all hell will loose break. the next support line is the deep blue line. But it...
In terms of systems theory, this is a great example where this may or may not go. This is a very stable signal rarely seen with random signals, such as the market. Therefore, math becomes more important than ever! And convergence/divergence becomes 'less' meaningful. I'm waiting for the green or red line to break and believe this will signal THE move. bullish or...
Entered at $17.7 here, this will be a multi month holding position with little risk.
Stop loss will not be exactly at 16.7, I will watch for other macros such as the upcoming FED rate hike on june 17 (yes again, and probably not raise it lol )
Weekly chart:
Nasdaq 40 year perspective:
The Sentiment on 12/2 was 93% Bullish. As I noted: “In general it is never a good idea to Buy on High Sentiment.” We have seen that every extreme cluster of Low Dorsey Sentiment have been ideal time to Buy zones. However, it is little recognized that “High Sentiment and Low sentiment are materially different in that they represent different aspects of the...
