Parallel Lines

by | Feb 9, 2024 | Uncategorized

I am focusing on 435.62 QQQ support as a long-entry threshold level for QQQ and NQ. The mean reversion trade on the ETF is tight, at 435.82. The upper band is 436.05. As long as we maintain the congestion in the range, I will take long entries at the...

Downdraft

by | Feb 6, 2024 | Uncategorized

My strategy on the QQQ / NQ has been short, short, and short again this morning.  426.76 is the next level of S|R, and represents a 61.8% retracement of the last leg of the move lower. My initial short level still represents a valid entry for me at 427.65. I will...

Buy the Rumor, Sell the News

by | Jan 31, 2024 | Uncategorized

The QQQ has been extended beyond S2 since the opening bell. This usually indicates a reversion into the range between S2 and S1, but today’s price action indicates that we may have a skewed probability distribution. I am going to focus on the short side of the QQQ /...

QQQ NQ Trade Idea

by | Jan 23, 2024 | Uncategorized

Grinding price action Monday and Tuesday has not put many opportunities on the table. But 421.85 on the QQQ looks like a solid inflection, and I will rest an order there for a long entry on QQQ and NQ. The initial target is 422.30, with an extended target at...