Indices & ETFs

My computation indicates max low is to $322. This year, the length of the fifth wave of an impulse (bull or bear) tends to be 100% of the length of first + third wave. So I believe $325 is the most likely low. Ofc, is the last dip. The dip could happen during PM, not mandatory to happen during market hours. See chart below,

1 Like

I still do not know whether one more dip is there or not, but skeptical with the behavior of market.
If it corrects on Monday, anything between $320 and $325 is a fine place to pick the low price !

I am really doubtful on market slide is done by last Friday.

Neither do I. I have shown you three possibilities. You have chosen the green option.

If market dips (PM or during market hours), the dip is fifth wave of wave c of wave iv. That is wave iv is a zigzag.

If market goes up, wave iv is either a triangle or a flat. Correction (in EW terms) would last few more days up to the end of Feb/ early Mar.

In EW, up or down doesn’t have as much meaning as a pattern :slight_smile:

1 Like

I will hold 500 TQQQs (about $50k) to ride all the way till completion of wave (III).V.5, expected to be QQQ > 400 (didn’t compute what is TQQQ), comparison starts from Friday close ($104.02, Feb 19) till then, and check which stocks beat it for that duration.

Just noticed AAPL has 12.14% weightage on QQQ ! Let us see how it goes.

Your curse didn’t drop QQQ to even $325!, LoD so far is $325.70, so my GTC sell order for SQQQ isn’t trigger at all! Curse more.

Market makers will grant your wish soon, wait and watch…the fun

Tech down, mfr up…rotation…

Some equity investors grew concerned about rapidly rising Treasury yields in recent weeks as they could especially hurt high-growth companies reliant on easy borrowing while diminishing the relative appeal of stocks.

Since when AAPL is a high growth company that rely on easy borrowing? Is an article to scare retail traders to sell.

Is an article to scare retail traders to sell. => Most of the analysis, when stocks are down, paid advertisement to scare the retail !

Remember, I do not believe in such news/posts, just sharing for fun !!

Triggered. QQQ should recover :pray: since I have no :hugs: hedge now.

LoD so far $324.64

Satisfied QQQ=324.88? Too early sell, you should wait until 11:00 to 11:30 AM PST which will be peak dip time !

I use contingent :slight_smile: since I am often afk.

Look like high quality trade to long QQQ or TQQQ. I mean probability of winning is high comparing to losing.

QQQ Long call (possible high return, we never know) may diminish with market volatility and time decay, while TQQQ you can hold (low return)

Interestingly RSP continues to outperform SPY. From last year’s March low it has gained nearly 20% more. You wouldn’t think so for all the buzz over the continued outperformance of the mega-caps and out-of-favor value stocks.

1 Like

Megacaps have been going sideways. My guess take turns, so may be 50% RSP 50% SPY :slight_smile:

RSP=Invesco S&P 500 Equal Weight ETF
SPY=Market Cap weight ETF

True, Result Megacaps (esp QQQ related) dropping more than low caps

TQQQ re-bounces exactly at 61.8% retracement of the impulse from 88.75 to 112.67.

1 Like

If $317 is not the bottom, next stop would be $307.

Today is Powell Testimony about economy. By around 9AM-11AM market recovers telling “Powell gave Thumbs up for economy”…like that.

There will be nice stories end of the day.

But everything pre-decided and cooked up, Market correction ends today !

I have become broken clock now for market recovery !

BTW: This is written for discussion purpose, anything can go wrong anytime.