Edit: Five waves impulse after touching 297.45… good sign… Because of breaking below yesterday’s low, now we have 7 wave instead of 5 waves? Best case scenario is it is doing an ending diagonal.
So should we be optimistic that impulse (i)(ii)(iii)(iv)(v) is developing or (i)(ii)(iii) is abc and then DOWN again.
Priced in a big one, wrongly used to fool retailers.
For example: AAPL was priced in with all positives/negatives when it hit $145, results are good and future is good, but now it is $120…
Similarly…for many stocks, which exceeded results and which forecasted higher than future expected rev/inc, are dropped 10%-15% from the peak.
Here, priced in does not work. The real fact is market correction affects across all stocks. This market correction aimed to see whether 1.9 T is getting approved or not.
If approved, it recovers and goes crazy to the level peak again
If not, we will see 1987 kind of drop…
This is the exact situation where market makers led it. No news/media provides such insight, but we need to know as investors.
I am pretty confident about next week upturn…based on these events and thought process.
This makes me to reset my asset allocation nicely to get in good companies…
Either completed or top $310. I have tons of TQQQs so I bought some QQQ puts to hedge, just in case Master Panda is correct. His/her forecast for SPX doesn’t make sense for QQQ.
Btw, my eyes are on target of wave 5 Currently estimated to be $440 Should make tons of money if I’m right. So long $296.92 is not broken, I won’t panic.
Correct, now you see how big banks/funds are making money ! Most of the scared retailers are selling and the market makers are buying yesterday and today.
See my estimate on QQQ (Range 301.75 to 308.41) – just programming it.
Watch the fun how next week is going to change the situation. This is it, my work is over as everyone is almost knowledgeable …to take care on their own.
Good luck to you all, happy trading…see you Monday with bull market…(may be premature)
If buying TQQQs, won’t be higher than mine, bot at $96, probably the one who paid the highest in this forum… me acting too rashly… shouldn’t have bot immediately after selling SQQQs… not to mention, selling SQQQs too early… need to control my emotion…
How nice have I sold SQQQs today when QQQ ~$298 and bot TQQQ, I will feel like a genius. Now I feel like a fool.
Unfortunately, on FOMO, I bot 2000@96 all-in thinking I am going to make it BIG after making tons from SQQQs. Run out of ammo… Still red… TQQQ trading at $84.
Retracement might have started, TQQQ going to $80… may be by closing or AH or PM or Monday,… hard to tell the when… before another push up. Not doing anything, just blindly hodl till time to close the entire position