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SQQQ heavy overhead resistance now


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#1 LMF

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Posted 15 March 2019 - 07:33 AM

They have now run SQQQ below 10.96 which was the lowest closing level from October 2018.  And consecutive closes below this level on March 13, 14  this week.  TQQQ may still have some overhead resistance getting to new ATHs.....but the overhead resistance on SQQQ is going to be extremely high now.  Its already down to 10.63 pre-market today. 



#2 robo

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Posted 15 March 2019 - 08:33 PM

Well, that sure was a boring day....   My daily signal is still on a buy,  and the VIX crushers did a good job today!  A move down to 12.50ish.  LOL...no Fear!  I thought we would be down some today, but as close to even as you can get after a full day of trading.

 

Flat going into Monday....

 

I trade VXF at Vanguard and the trades are free.....


Edited by robo, 15 March 2019 - 08:37 PM.

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”   Jesse L. Livermore


#3 LMF

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Posted 16 March 2019 - 10:55 AM

VIX tagged the lower daily bollinger band on Friday, so see if there's some reaction next week......possible VIX bounce after expiration.  SQQQ is now down around 10.5 and just about ridiculous trying to trade it with a 1 cent bid/ask spread (same with TZA). It will take a near market crash to get it to move enough.  And apparently there's no need to reverse split it back up to 30 something.  The SQQQ volume was so chuncky on Friday......it was a complete joke.  Dollar volume is a complete joke.  But that's what they want I guess.



#4 robo

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Posted 17 March 2019 - 12:11 AM

VIX tagged the lower daily bollinger band on Friday, so see if there's some reaction next week......possible VIX bounce after expiration.  SQQQ is now down around 10.5 and just about ridiculous trying to trade it with a 1 cent bid/ask spread (same with TZA). It will take a near market crash to get it to move enough.  And apparently there's no need to reverse split it back up to 30 something.  The SQQQ volume was so chuncky on Friday......it was a complete joke.  Dollar volume is a complete joke.  But that's what they want I guess.

Next week should be interesting to trade.....

 

https://twitter.com/...ackout?src=hash


“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”   Jesse L. Livermore


#5 robo

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Posted 17 March 2019 - 08:05 AM

I just trade based on my signals. What causes them doesn't matter to me.... The Bulls, the Bears, the Fed, the Boyz, the Banksters, Dumb Money, the Smart Money.
The signals come and I take the trade. No guessing is required! Of course that doesn't work very well for investors. So these big firms have a team of folks/experts looking over data,
and they tell us what will happen next. They even charge you for the data and go on CNBC. So it must be correct since they are so much smarter then us. LOL.... are they? S
Some are petty good, and others are just full of crap. They make guesses that are a fade most of the time.

Deception
BY SVEN HENRICH ON MARCH 17, 2019

We’re back in the phase of markets where bears look like idiots and bulls look like geniuses. In 2018, following the US tax cuts, a growing economy and expanding earnings had bears look the fools as markets moved on to record high after record high. By September and October bears had thrown in the towel so relentless was the constant drift higher amid shrinking volumes, dying volatility and uniform bullish consensus. It was a very deceptive environment as divergences and negative signals were ignored and markets ended up dropping 20% into December.

Now, ironically, it’s a slowing economy and slowing earnings, the very thing bears had predicted last year, that has bears on the ropes again. Why? Because it’s not the economy stupid. It’s liquidity. The oversold rally emerging from the depths of the December carnage has morphed into a liquidity bonanza as record buybacks are flushing relentlessly through the system and central banks have flip flopped on their previous policy stances. With algos latching onto any tweet or newsflash promising a coming recovery from the current slowing growth environment (think China deal)
the liquidity machine has once again set markets on a relentless path of magic levitation accentuated by overnight gaps and market open ramps, tight intra-day ranges and magic risk free Fridays:

https://northmantrad...17/deception-2/

Edited by robo, 17 March 2019 - 08:15 AM.

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”   Jesse L. Livermore