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Still chop


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#1 LMF

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Posted 28 July 2020 - 11:11 AM

TQQQ still chopping around on a 5 min sell signal from early in the Friday session. 60 minute bottom is in though. Gonna look like crap for a while longer.

#2 Darris

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Posted 28 July 2020 - 11:44 AM

Probably going to start making new all time cumulative highs again in the NAZ U/D volume today.  Breadth on the NAZ is a horrible indicator.  Every Blank Check company on the planet lists there and they have a 'Unit' symbol, 'Warrant" symbol and Equity symbol to pollute the data base.  Barron's used to have a commons only download until they revamped their website last year and toasted all their historical data files and daily data.  Tech should move higher this week to take out the all time high next week if they wait until then.  Any TQQQ optimum buy target for the rest of the day?



#3 salam

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Posted 28 July 2020 - 11:54 AM

I’m now 50% long Vix etf

 

 bargain prices today ! 


I'm not sure what my future holds... But I know who holds it.

#4 LMF

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Posted 28 July 2020 - 12:05 PM

TQQQ was down in the 108.5 zone at the 5 min200 earlier but has since bounced. That was the good zone.

#5 salam

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Posted 28 July 2020 - 01:37 PM

Overused TA sign......

 

.... any Head and shoulder experts studying the volume and pattern on the SP hourly?

 

ES 2890 makes for a Juicy neckline. 


Edited by salam, 28 July 2020 - 01:38 PM.

I'm not sure what my future holds... But I know who holds it.

#6 Darris

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Posted 28 July 2020 - 02:14 PM

I noticed a bearish high volume node at 2:12pm EST between ES 3234-3235 today.  We have not seen triple digits on ES bid ask in a long time, and for a few minutes at that time 300-400 and even as high as 600 contracts popped up.  Anyone holding short into tomorrow afternoon will be forced to cover in that price zone if we are still below that value price wise going into FED speak.  All in my opinion of course.  LOL for Dex.  I'm going to use buy stops from 3235 all the way up to 3260 tomorrow with 1 pt slippage fill entry just in case we get a scorch.



#7 Darris

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Posted 28 July 2020 - 02:17 PM

Trying some TQQQ at 108.65 and NQ at 10557.5 for a hold into Thursday.



#8 LMF

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Posted 28 July 2020 - 02:22 PM

The pig with lipstick configuration here.

#9 Darris

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Posted 28 July 2020 - 02:30 PM

By the way, heads up on simple pattern for today if it holds into the close.  NYSE breadth is positive and SPX price is negative.  That has been a cod lock buy signal for the next day this year.  6-4-20 was good for 120 SPX pts, 6-21-20 for 87 pts.  4-23-20 for 80.  4-28-20 for 76.  4-7-20 for 130.  2-20-20 was a 420 pt loss until we had an up day, ouch.  Two others in January for gains.  Much more selling here at 3:30pm into the close and the signal will not trigger.  breadth fading fast now.