$SPDR S&P 500 ETF (SPY.US)$$Invesco QQQ Trust (QQQ.US)$ Yep...
$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ Yep, I'm convinced they're using put premium to push the markets higher. For any trader following these patterns a break back below support would have signaled we had a false breakout and were headed lower. Then, once enough people loaded up puts they gap the market higher, making them worthless.
I have said that I hate symmetrical triangles, and here's why; potential, false breakouts. Technically speaking, we are still not out of the woods until SPY breaks ~580 and holds above, or above ~488 for QQQ. Don't forget there is a daily gap to fill on QQQ up to 493.15. I will be covering updated targets in my next video.
Don't forget that NVDA is the ultimate decider of the market and it still hasn't broken out of its triangle. I expect a pullback once it hits ~127.
I have said that I hate symmetrical triangles, and here's why; potential, false breakouts. Technically speaking, we are still not out of the woods until SPY breaks ~580 and holds above, or above ~488 for QQQ. Don't forget there is a daily gap to fill on QQQ up to 493.15. I will be covering updated targets in my next video.
Don't forget that NVDA is the ultimate decider of the market and it still hasn't broken out of its triangle. I expect a pullback once it hits ~127.
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Just a dude highly interested in the financial markets who wants to share helpful info along the journey.
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scarlight : then if NVIDIA reaches 127 isn't it such a good opportunity for gains already?
Orhan : Mr.Derp what do you know about waves? You mentioned triangles, but I’ve done a tad bit of research on “waves” where stocks/etfs move in a systemic order filling certain areas when it needs to yknow what I mean?
Derpy Trades OP scarlight : Sure is!
Derpy Trades OP Orhan : For sure. I am aware of the basics of Elliot Wave theory and understand Fib levels, but I don't utilize EW theory in my trading. I do, however, have ways that I follow "waves" as you say.