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Covered NQ


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#1 .Blizzard

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Posted 08 September 2020 - 07:16 AM

HERE @ 11158 FROM 11552

 

A long battle


 
 
 


#2 K Wave

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Posted 08 September 2020 - 07:53 AM

pretty big selloff into Friday....may have been enough for at least a short term bottom.

 

Could see rally back to near the high on Tech, with massive divergences on that high that could lead to longer lasting sell signal.

 

But if Friday's pivot gets taken out (testing it right now on futures), then could get ugly sooner, with possible test of 200 day MA.

 

Either way, very decent possibility now, that 200 day MA gets tested sometime over coming weeks.



#3 risktaker

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Posted 08 September 2020 - 08:03 AM

HERE @ 11158 FROM 11552
 
A long battle


Brilliant!

#4 K Wave

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Posted 08 September 2020 - 08:38 AM

So far so good...nice reversal stick at 11,200 support area on NQ...now we see if bulls can make it stick for a bit....



#5 K Wave

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Posted 08 September 2020 - 08:45 AM

oopsie....below 11,200 is potential danger zone...

 

bulls have to reclaim that pretty soon or today could turn ugly....



#6 K Wave

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Posted 08 September 2020 - 08:46 AM

coming up for 2nd attempt...if it fails to reclaim..be careful



#7 K Wave

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Posted 08 September 2020 - 08:52 AM

bulls need one more trip over 11240 to likely get something going that could stick....

 

should get a decision here fairly soon...



#8 LMF

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Posted 08 September 2020 - 10:13 AM

They could get a washout close on TQQQ pretty easy today without doing any chart damage.......a Close below the 60 min 200ma at 136.35 right now. The last one was April 3 so its needed at some point. See what happens this week.

#9 K Wave

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Posted 08 September 2020 - 01:45 PM

This is pretty obviously a darn important area on the Dow.....and thus the most likely place for it to find some support...

 

If it fails to do so, could be a warning.....

 

dji.png


Edited by K Wave, 08 September 2020 - 01:45 PM.


#10 K Wave

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Posted 09 September 2020 - 08:22 AM

Still looking for a bounce in this area....but no matter what breadth they pull out of the hat today, looks highly likely NAZ summation headed below Zero....

 

So if it does not bounce today, then something worse than a sharp pullback could be unfolding here...

 

https://stockcharts....id=p44465978337