UPDATE May18
-SQUEEZE-
We squeeze until we are done. The next upside target is 334.4. This is MAJOR resistance. I expect a failure there. How big of a failure will be telling. If QQQ can hold 328.5 the sequence remains bullish. It can fall all the way to 325.75 and remain bullish, but the bulls would have some work to do from there.
There is news released an hour before open.
And Powell speaks tomorrow. So be careful.
For NQ 13330 is my line in the sand. bulls need to remain above that. 13500 would also be support. with 13740 as my upside target. if this upside target is broken and set up on (price remains above 13745 on a 5 min chart), then the squeeze could get crazy.
iam still in the stocks I mentioned yesterday. This squeeze is getting a little extended. Watch the pullback to hold support in order to remain bullish. I expect this sequence to fail spectacularly when it ends.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
it's almost time
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Moomoobo : Failing tonight? Any chance
iamiamOP Moomoobo: watch 334.4 on QQQ and 13744.3 on NQ futures. that is major resistance
icezzz iamiamOP: Which indicator u use to get this figure?
iamiamOP icezzz: past resistance, but it's actually the pivot points today based on fib numbers
102235596 : Oh damn. It flew past the resistance. Will there be a new high? @iamiam
iamiamOP 102235596: watch for a failure
Butcher71 : Well it went past that 334.8, now seems to be losing some steam. Also broke august high 13737. What’s next u think?
iamiamOP Butcher71: a drop. but watch for support. if support holds we could remain bullish
Butcher71 iamiamOP: Every dip is being bought fast. Looks like no respite
iamiamOP Butcher71: patience
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