$QQQ TOP 20
Added 2025-03-13 17:51:29 +0000 UTCThe selling has now been relentiness and a cooler CPI and PPI have played little to no part in calming the market
I believe the market is now solely being driven by Trumps Tariffs concerns and its effect on the economy.
This is the weekly chart and I am sharing this chart because of where the 200 WMA is moving too.....I typically share the DAILY chart of the $QQQ, so please be aware of the difference.
We can see that the 200 WMA is moving perfectly to the 0.38 Fib at $389, where we always set Wave A.....this is now forming a confluence level, this is showing us that the market is starting to align with the corrective projection now
We still want to see a retest of the 200 Day MA or the 50 WMA, shown here in blue.....the 50 WMA and the 200 Day MA have a habit of aligning with each other very well, so always bare this in mind.
If and when there is a retest and then a rejection then we would expect the 200 WMA to be tested next to complete Wave A.
Comments
In other words, raise cash! And I'd feel comfortable going long after wave C completion else we might see HIMs type situation.
A P
2025-03-13 17:59:50 +0000 UTC
