QQQ price action estimate - UPDATED JULY

20 lug 2022

You gotta prove this channel is valid in a really big way. Either we crash on reasonably flat or mildly good earnings, or we have a squeeze of epic proportions and then counter balance on the 50% line of this long term, all time bull channel. Oooooh this be exciting times indeed.

20 lug 2022

Nota

The last recession fell out of this green channel and our volatility and growth has technically been to prove the validity of the green channel over the red on QQQ. That's why 9 weeks+ of range around the top of the red channel. A fall into that red channel now seems pretty dumb considering the volume interest above that line and we vastly destroyed that red channel and proved out the fibs on the green. Bears believed we'd dump back to the 50% line of the red channel, seeing the SPX back to 2000 in that case. But I think we have no chance of that now. I mean, I made these ghost bars as an estimate, and I made a bear one also. I deleted it because it did not prove out. Volume is coming in strong. Maybe we should remember that CEO's are tying their compensation to market value, not revenue and corporate buybacks help them hit their bonuses. Greed of insiders is good. I still see TSLA and others needing to close high this week, around this point. Next three weeks are going to be fighting for the yellow Point of control, with ultimately a break out and massive covering. I think we come back and see large buying volume at the thick green line, my estimate for a new POC build there, all while trying to find support and balance on the 50% yard line. Whew.

20 lug 2022

Nota

I'm selling EVERYTHING in Late August, Sept. But as my ghost bars suggest, we'll have to see a building of fair prices at that line before we fall. If we just tap it and crash, that's not good. I'm always looking for clear volume interest at those levels before I assume that this entire pattern will happen.