Still battling here, but certainly does seem like bears in control

309.52 is the 23% fib from the uptrend over the last few days on QQQ

irish pete ag06 said:

---

Still battling here, but certainly does seem like bears in control

---

agree, today's model t is 312.2. All kinds of fighting there.

****ing 5min BB needs to turn it's ass down so this sell can continue

bounced perfectly off the daily 100 sma at 311.95. Next level to clear. 61.8 fib is at 311.66. qqq

I do so love me some technical analysis...

For what it is worth, I believe that the IWM is more overbought then the rest of the ETFs. That is what I've been trading lately

Irish 2.0 said:

---

I do so love me some technical analysis...

---

100%. I used to enjoy video games as a kid. TA is way better!!!!

So PED is doing what I thought it was going to do. I'm up 13% this past week. Am I the only one in on this stock? Todays candle is crossing the 50ema for the 6 month. Best I can tell, every time it does this, it makes it to 1.75.

Txducker said:

---

bounced perfectly off the daily 100 sma at 311.95. Next level to clear. 61.8 fib is at 311.66. qqq

---

I bought 0722p313 after my sqq for 1.42. Out of my puts, 3@2.42 and 2@2.12. Made some eat out money. It's taking a breather and it may go retake the high. better take profits while I can. I am using the hourly 5 ema as my sqqq stop loss 312.65. I was in at 313.87.

Made some money shorting. We are probably going to 4140 today on SPX.

Txducker said:

---

Txducker said:

---

bounced perfectly off the daily 100 sma at 311.95. Next level to clear. 61.8 fib is at 311.66. qqq

---

I bought 0722p313 after my sqq for 1.42. Out of my puts, 3@2.42 and 2@2.12. Made some eat out money. It's taking a breather and it may go retake the high. better take profits while I can. I am using the hourly 5 ema as my sqqq stop loss 312.65. I was in at 313.87.

---

stopped out of my sqqq for a profit. . max profit was around qqq 310.96 (about 75% fib level) on today high to the 10:30 low. I think the 61.8 fib of 313.12 or the hourly 10 ema 312.94 would have been better stops for a retest to the downside or areas to look for retry to the downside if those levels hold. If not, then go to retest today's high again. First test of 61.8 fib rejected. My mistake was not taking sqqq profits at the 75% fib like I did with my puts.

$30,000 Millionaire said:

---

Made some money shorting. We are probably going to 4140 today on SPX.

---

I'm not brave enough to buy any TQQQ at these levels. Put in one more buy for SQQQ at $40 as a hail Mary in case it rips into the close, but i just don't see this being the actual end of the bear market quite yet.

Irish 2.0 said:

---

QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56

---

SPY on deck for a potential double top as well here

6/9 - 411.74
Today HOD (so far) - 410.99

Order

Sell to open AAPL Calls - 2024 Jan 19 - $200 - $13.25

qqq bulls have had an impressive recovery today. July has officially beat the June high. It will be interesting to see what this means going forward.

Txducker said:

---

qqq bulls have had an impressive recovery today. July has officially beat the June high. It will be interesting to see what this means going forward.

---

I think there can be no other answer than we are in a rally until we aren't, right? I expect consolidation and I have no clue if this rally will last and lead us into a sustained bull market, but we've made it through FOMC and earnings, prices are well above the 50-ema, and almost all momentum indicators point to up.

I don't know how and I still feel bearish, but the price answered all of our questions at least for now, didn't it?

I'm asking here. I did not intend any snark or to be argumentative with this post.

gig em 02 said:

---

BaylorSpineGuy said:

---

Yes very true! SPY also put up a hanging man type candle after a gap up. Again, wait for confirmation but this could be a means to retest recent lows.

Plus, coupling this knowledge with Cramer ringing the bell, look out below!

---

You sure that's not a hammer?

---

In hindsight, I think it was a hammer

That's how you start a weekend!

Screwed up shorting today. Played too far OTM early and held them too long. Entered again and timed entry great. Missed my exit when got distracted with some camping activities... held a little for potentially a bounce back down off model T but didn't happen so ended up 0 for 2 today. Around minus 5% on the account total, so ended up basically flat for the week.

Definitely could have done better today. Not a great performance. Biggest thing is, I didn't do some of my bad habits I've had in the past like trying to turn these losses into a swing.

$30,000 Millionaire said:

---

Made some money shorting. We are probably going to 4140 today on SPX.

---

Yep

Philip J Fry said:

---

So PED is doing what I thought it was going to do. I'm up 13% this past week. Am I the only one in on this stock? Todays candle is crossing the 50ema for the 6 month. Best I can tell, every time it does this, it makes it to 1.75.

---

I was and dumbly got out 3 days ago

I like the topping candle the market just made.

Here's how I want to play the rest of the day: size lightly because it's 2:00 on OPEX Friday.

• Basing over SPX 4128, want to be long, but need to push through 4131 in very short order or it's invalid
• Below 4128, want to be short biased and you want to see some momentum down start, otherwise it's just consolidation chop
• machines will take over sometime between 2:30 and 2:45, you want to be out while the machines are squaring up positions.
• 0 DTE is highly risky, use something more forgiving or use UPRO, UDOW, TQQQ

Bob Knights Liver said:

---

Txducker said:

---

qqq bulls have had an impressive recovery today. July has officially beat the June high. It will be interesting to see what this means going forward.

---

I think there can be no other answer than we are in a rally until we aren't, right? I expect consolidation and I have no clue if this rally will last and lead us into a sustained bull market, but we've made it through FOMC and earnings, prices are well above the 50-ema, and almost all momentum indicators point to up.

I don't know how and I still feel bearish, but the price answered all of our questions at least for now, didn't it?

I'm asking here. I did not intend any snark or to be argumentative with this post.

---

I see it as a rally also. qqq made a higher high on the weekly and monthly chart. March is the only other month this year that finished the month higher than the previous month. April said "who cares" and then sold off setting new lows. Lots of evidence for bad economy and more pain coming in the fall, however the market is not ready to price that in for the whole market. I don't know what to think big picture, long term for the market so I am just playing weekly and intraday trends. Monday starts a new week and month, so a new trend can start. I just don't feel good about picking a direction. I will be long biased because it is the current trend.

bmoochie said:

---

Philip J Fry said:

---

So PED is doing what I thought it was going to do. I'm up 13% this past week. Am I the only one in on this stock? Todays candle is crossing the 50ema for the 6 month. Best I can tell, every time it does this, it makes it to 1.75.

---

I was and dumbly got out 3 days ago

---

We'll see what happens if it actually breaks through the 50ema for the day. Still might have a small window of opportunity.

Looks like we've formed one inverted shoulder and one inverted head on UPRO.

$30,000 Millionaire said:

---

$30,000 Millionaire said:

---

Made some money shorting. We are probably going to 4140 today on SPX.

---

Yep

---

How did you know this?