Tag: qqq

There was little doubt that the latest edition of a two day rally would at least stall here just below the important 417.5 level. The rally was quite similar to the May 6 - 7 rally in response to the little dip to 411. The support at 404 is literally resting on air. With all… Continue reading 5/17/21 The Backstretch

SPY almost tagged the 405 line which is the gateway to the rectangle. The top of the April Fool's Day pop out of congestion to 400 is the next target. However, the market has a good chance of stabilizing today with x00, which is the most reliable Specter/FF5s buy signal. QQQ is already back in… Continue reading 5/13/21 Stability At x00

There is a possibility that this structure tips over at around 405, putting the prospective move to 405 - 20 = 385. That is around the late March low, that puts the target above 370 which is the early March low. The 52 week SMA is at 355. The support at 410 proved to be… Continue reading 5/12/21 The Homestretch

Today looks like a 20 day low. The 417 level failed to hold, so now 410 is short term support. Looks tenuous. Friday gave a clue about near term direction. QQQ touched the 18 day SMA from below before pulling back. Today, it has crawled back up to the 54 day SMA, investors would like… Continue reading 5/11/21 The Homestretch

SPY is about 412 now, getting close to taking out last week's low. That's about 10 away from the 13 week moving average and moving into the Jan-Mar rectangle. The 52 week SMA at 356 then becomes part of the conversation. The slope of the couch potato 13 week SMA is already negative. Taking out… Continue reading 5/11/21 Descent to the Rectangle

Seems like the conversation with Yellen yesterday turned to finance, and the possibility that in some future reality, borrowing money might have some expenses associated with it like paying it back with interest. One would have to be crazy not to panic, at least briefly. SPY has been building a flimsy looking support line at… Continue reading 5/5/21 Current Signal xLH

The current upper cycle excursion has lasted from late March. The daily signals weren't all that important with the lack of price action. FWIW, today was xFC. xLH is not a mechanical buy, weakness tomorrow will make the signal x00 which is a mechanical buy. This down move out of extremely low volatility could be… Continue reading 5/4/21 Afternoon Signal xLH