Can rough tell how the start of next week will begin..
look at the put options in QQQ for next week. i am seeing the same behavior as last week, so my guess is that we will start the week on a bearish state. i may be wrong but it will be best to see the options chain later.
i am certain that next week ending on the 15th Mar, we will see a similar sell off and it will be a more serious one as its the triple witching hour (bonds, yields and options) expiring same time. alot of volatility will be seen and most likely a sell off.
first level of support of QQQ will be 438 and if that is broken, we will be heading to 434… if 434 is broken, we might go back all the way down to 420 level…
The good thing is this week we have established that rate cuts Will definitely come, but just not sure when.. For NVDA fan boys, wait for a good opportunity to enter, GTAC will come after next week.. it may be a sell the news event but Jenson did hint some new chips will be out… for today, 880 seems like a good support and its exactly 5% off start of market open… still can go lower but good price to buy in…
Anyway take it easy today, this pullback was expected.. buyers are exhausted and need to cash out to buy in again at a cheaper price to keep the market running bullish in the long run…
Note: I am NOT a guru and not here to give financial advice
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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I ain’t any guru… i follow technicals and trend line of the market
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70620572 : most options expire worthless, so we probably bullish at the beginning of next week
OceansWaveOP 70620572: Nope..those are in screen shot are options for 11th Mar… not expiring today.. there will be traders holding until next week…
102571500 : Powell and the agency already know whether CPI is good or bad. They're already laying out. Wall Street is America's lifeblood and controls financial markets around the world. Therefore, he will receive special care to make him strong