Given the way Fed works, we can look forward to best case scenario of 23.6% retracement => Definitely not 23.6% retracement, it does easily 50% or more when that happens.
But Panda Wu prediction bottom at 2200 is going back to Mar 23, 2020 - that is 99%, essentially rolling back all Trump’s tax brings down all corporate income loss for 2 or 3 years.
Market will zoom when tax rates are made in to law and all news/media will say market priced in increased tax ! Then, You can expect 30-60 days after the tax revision - the real show, then fed has to pump-in money.
Then, entire Biden term will be in depressed mode if this happens ! Let us see whether it happens and when it happens.
My pink S/R line is giving a hard time. Need to clear this! which I think would… expect wave (iii) to be completed at 334 (next pink S/R line). So far price moving as expected.
Here is my take: If I guess ( Pure BS guess on my poor EW knowledge ) this will be pulled back to $320 (either tomorrow or Wednesday) and then goes up to $334 level.
It can not go straight line, but needs to dip and then go up to $334. Will that clear your dilemma / confusion?
? I am bored waiting for it to hit the target of 357 (many chartists know this is the target of the inverse H&S and would dump) where I would unload a lot of TQQQs. So counting hourly and multi-day EW for fun.
I think it will hit 332-334 today where many day traders would dump QQQ and buy back 2mrw
Bear in mind, this is a powerful wave 3 of 3 pattern, wave (iii) of wave (3) won’t retrace much before continuing till it hit the target of 332-334. Once target is hit, probably retrace back to the pink S/R line at ~327
Ha ha ha ! Money won’t come that easy…you waited 23 years with AAPL…TQQQ wait is tiny…
Correction : day traders → Market makers…as day traders are poor people trying to speculate, but market makers are wealth funds/banks decide where market has to go…
I am not strictly following the range, but appx hit would do. If it reverses, it won’t stop at $327, but will go to appx Range:318-324.
Made few swings with TQQQ, appx 3 times of return. I sold TQQQ today (prematurely expecting pull back around 320 range).
Yeah, I have the same confusion, but guessing it is not crash, but may be a pull back only…for few days.
See the benefit of swing trades between Mar 8rd and today…SOXL 64%, TQQQ 33%. I was calling bottom on March 8th. If someone have purchased $300k March 8th (correct timing which is tough) and sold today…easy 100k gain, exceeding returns from many other investments.
IMO, Still long way to go before crash…
BTW: Not a stock, nor an investment advice, you are one your own. Posting for discussion purpose, there is no guarantee, and everything can go wrong 100% as no one can predict future.
Looking at the updated chart of QQQ, wave (iii) might continue to moon to $340! So I FOMO buy 1000 QLDs (instead of TQQQs) AH. If continue to moon to 340, I would make less $15k! Sold 2500, buy back 1000, so make less $15k in one day!
Notice the powerful wave (iii) of wave (3) rockets one day faster than I thought.
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Very soon. This is the first time I throw 3/4 of trading money in one ticker YOLO.
I realize I spent so much time analyzing and trade too timid. Not very worthwhile my effort. Go BIG or go home is the right strategy. And go for index like SPY and QQQ and its double or triple cousins. Very liquid and trade huge amount… easier to interpret than individual stocks.
Today is a bad day, TQQQ lags so many counters. Anyhoo, not sure whether powerful (iii) of (3) is completed or not, for prudent reason, assuming has and is in wave (iv)… ofc trend less.
Meanwhile, AAPL is only a few cents away from 127.22 above which I feel is a run towards $172.
I realize I made a mistake, the target of inverse H&S is 350 and not 357, so I adjust the target for (3).(v)… plus my speculation that is in wave (iv)… new updated chart for QQQ…
=> Definitely not 23.6% retracement, it does easily 50% or more when that happens.
TQQQs I owned, my previous post is the only 2000 TQQQs left.
