QQQ - the triangle scenario not yet negated but would need to
rally strongly directly from here - a move below the prior low in
August would invalidate that option.
Posted by johnny2012 on 22nd of Sep 2023 at 10:46 am
Steve. In the newsletter you said you look for this rally up to
be sold. But if the triangle is still valid, would you be
more bullish on a rally back to the underside or would it be a
better objective short at that area? Or do you have a target area
the rally could fizzle first? As always, thanks for your
analysis.
SPX looks like a 3rd wave down so bounce up in wave 4 then down
again - or a larger bounce wave x then down in wave y (but lower
high and down again is what I favor)
QQQ would need to rally direct form here to upside trendline
(would be wave d in the triangle scenario)
QQQ - the triangle scenario
Posted by steve on 22nd of Sep 2023 at 09:23 am
QQQ - the triangle scenario not yet negated but would need to rally strongly directly from here - a move below the prior low in August would invalidate that option.
Steve. In the newsletter you
Posted by johnny2012 on 22nd of Sep 2023 at 10:46 am
Steve. In the newsletter you said you look for this rally up to be sold. But if the triangle is still valid, would you be more bullish on a rally back to the underside or would it be a better objective short at that area? Or do you have a target area the rally could fizzle first? As always, thanks for your analysis.
SPX looks like a 3rd
Posted by steve on 22nd of Sep 2023 at 10:49 am
SPX looks like a 3rd wave down so bounce up in wave 4 then down again - or a larger bounce wave x then down in wave y (but lower high and down again is what I favor)
QQQ would need to rally direct form here to upside trendline (would be wave d in the triangle scenario)
Best to trade what's in front of you
Thank you.
Posted by johnny2012 on 22nd of Sep 2023 at 10:50 am
Thank you.