$QQQ TOP 20 UPDATE - IMPORTANT NOTE -
Added 2023-08-08 14:38:35 +0000 UTCPrice is just above the 50 Day MA on the daily chart above.
But the price has lost the 50 and 200 Day MA on the 1hr chart.....which means the trend is still to the downside and where we have Wave 4, we can see that our count verifies this too.
I have Wave 4 coming down to the 1.27 Fib at $353.....so we are about half way through the pain here in this Wave 4 decline, it is an absolute must in order to go higher, this is simply how it is and there is no point being concerned or worried, I know it is easier said than done but we are in this group to learn and grow, learning that this is simply part of every impulse movement will eventually solve your concerns and worries.
We have to wait for Wave 4 to find support and complete and then we can possibly add more and enjoy Wave 5 for the rest of the year.
In the meantime, we may get a relief bounce at some stage soon, which will be the Subwave B bounce, as part of Wave 4.
Comments
What level to the upside would invalidate this count and show that wave 4 is in?
Adam L
2023-08-10 13:29:32 +0000 UTCSQQQ is inverse 3x to QQQ so wait until the end of W5 in Nov/Dec tbh
TommyJR
2023-08-09 02:28:19 +0000 UTCThe chart shows that it might come down to the bottom of wave (4). I'd probably take a position there if you can wait. At $353.58
Roger Ellsworth
2023-08-08 19:36:20 +0000 UTCis it a good time to buy SQQQ now?
Baktash Azizi
2023-08-08 16:57:40 +0000 UTC
