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Nasdaq gapping down below channel support, August low in process


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#1 Russ

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Posted 24 July 2020 - 08:50 AM

 


Edited by Russ, 24 July 2020 - 08:57 AM.

"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#2 pdx5

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    Trade safe! Mange risk wisely.

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Posted 24 July 2020 - 10:33 AM

Simple profit taking. More profit taking possible. Not a good time to add to longs until election is out of the way in my opinion. I think next 3 months sell the rally's might be the better alternative. 


Edited by pdx5, 24 July 2020 - 10:35 AM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#3 LMF

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Posted 24 July 2020 - 11:03 AM

Big log channel on the Qs........no damage here above about 255. Acting very good around that upper rail.

#4 redfoliage2

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Posted 25 July 2020 - 06:09 AM

QQQ, NDX, and NAZ still closed the day above the bullish trend line on their daily charts ..................



#5 Russ

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Posted 25 July 2020 - 04:34 PM

QQQ, NDX, and NAZ still closed the day above the bullish trend line on their daily charts ..................

Depends on where you draw the line...


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#6 risktaker

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Posted 25 July 2020 - 09:06 PM

Close to a bounce point:

55-ABB9-CA-D06-B-4999-BF06-6-D7-F3237-E7

#7 redfoliage2

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Posted 26 July 2020 - 10:45 AM

QQQ, NDX, and NAZ still closed the day above the bullish trend line on their daily charts ..................

Depends on where you draw the line...

Depending how you chose the connecting points ......

#8 Russ

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Posted 26 July 2020 - 02:08 PM

Inverse Fang fund shows signs of bottoming.... 


Edited by Russ, 26 July 2020 - 02:11 PM.

"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/