QQQ fell a 6 cents short of making a new high so far. Matt, any
thoughts on how far this wave (V) will go? Breath for market not
good and VIX up, all sort of strange
what you want to look for is 5 clear waves up - wave 5's will
have 5 waves. Unless price really rockets you might not see those 5
sub waves on the daily QQQ from the 416.78 low, you should
zoom to a smaller time frame, 15, 30, 60 min. Right not I can see 3
waves up. But, nothing is always straight forward, 5 waves could be
5 waves of wave 1 of 5. We'll see how this develops
One thing to point out, today's breadth is negative despite the
big move in the SPX and QQQ, again that confirms this narrow
breadth move by a handful of stocks taking up the market
Posted by DigiNomad on 2nd of Feb 2024 at 02:05 pm
How are you measuring breadth? The AD total chart (ADRT) I use
is massively positive today...but I haven't been tracking it long.
Maybe I'm doing it wrong?
QQQ fell a 6 cents
Posted by DK on 2nd of Feb 2024 at 01:53 pm
QQQ fell a 6 cents short of making a new high so far. Matt, any thoughts on how far this wave (V) will go? Breath for market not good and VIX up, all sort of strange
it's going to go as
Posted by matt on 2nd of Feb 2024 at 01:58 pm
it's going to go as far as it wants.
what you want to look for is 5 clear waves up - wave 5's will have 5 waves. Unless price really rockets you might not see those 5 sub waves on the daily QQQ from the 416.78 low, you should zoom to a smaller time frame, 15, 30, 60 min. Right not I can see 3 waves up. But, nothing is always straight forward, 5 waves could be 5 waves of wave 1 of 5. We'll see how this develops
One thing to point out, today's breadth is negative despite the big move in the SPX and QQQ, again that confirms this narrow breadth move by a handful of stocks taking up the market
How are you measuring breadth?
Posted by DigiNomad on 2nd of Feb 2024 at 02:05 pm
How are you measuring breadth? The AD total chart (ADRT) I use is massively positive today...but I haven't been tracking it long. Maybe I'm doing it wrong?
I have a workspace in
Posted by matt on 2nd of Feb 2024 at 02:10 pm
I have a workspace in Tradestation - see image
- NYSE: advancing 890, declining 1933
- Dow: 14 advancing, 16 declining
- SPX 500: 233 advancing, 260 declining
- Nasdaq 100: 61 declining, 38 advancing (2:1 negative)
- Nasdaq Composite: 1476 advancing, 2676 declining
Thanks. Deleting my composite AD
Posted by DigiNomad on 2nd of Feb 2024 at 02:14 pm
Thanks. Deleting my composite AD chart now
Here's how I do it
Posted by mla127 on 2nd of Feb 2024 at 02:06 pm
Here's how I do it ... then I go long ...