I've said before, quite a few times. The 290 level for QQQ is important for the whole market. It also helps solidify the bear market that the SPX is below 4000.
290 QQQ or 12,000 for Naz 100 Futures is the dividing line for the whole market
Posted 01 March 2023 - 11:01 AM
Posted 02 March 2023 - 11:45 AM
so what did the market do today? gapped right down past the 290 level. Price now below the 200 day and the 900 day and the 200 is below the 900 (credit to Kwave) the market has however rallied from the open low. Have to see what it does today/tomorrow/monday to confirm if this is the breakdown
Posted 02 March 2023 - 01:21 PM
gap down and rise to close the gap. normal. I'm waiting and watching. Fear and greed measure, neutral
Posted 02 March 2023 - 02:48 PM
I didn't have time to post. I drew a line on my chart some time ago for QQQ that support line or maybe it was resistance when I drew it, is support at 288.26
We bottomed this morning about 10 cents above that. We shall see. Looks ST bullish. whether it lasts past the day, I of course don't know.
Posted 03 March 2023 - 12:37 PM
well price did a break fake. QQQ broke out of the bear flag and that's two for the Bulls. a rally back to the 300-302 zone for a test looks likely. Could even happen Monday
Posted 03 March 2023 - 01:32 PM
the "big" rally has barely caused the USD to go down. something to watch
Posted 03 March 2023 - 01:40 PM
shorted a little more XLI @ 103.38. Are we in the "back to normal" stage of psychology? that precedes the big drop? just asking
Edited by skott, 03 March 2023 - 01:42 PM.
Posted 03 March 2023 - 01:47 PM
Energy company insiders at energy companies are selling at records amounts last year and this even recently selling after their shares have dipped. XLE has a big drop just to retrace even the half point of the rally from the pandemic low.
Posted 03 March 2023 - 01:59 PM
Naz 100 futures are at a resistance point around 12,270 Not saying it will stop there, just pointing it out.
Posted 06 March 2023 - 02:30 PM
Last post of the day.
QQQ gapped up into the S/R zone I mentioned before roughly 300.48 - 302ish. It rallied completely above that zone this morning. Now it is threatening to back below that zone and close the morning gap. Got to go get ready for the evening shift. Good luck to you bears out there