QQQ continues to extend, but how far will it go?
IMO the rally is either already over (topped friday) or we extend slightly into next week before a large retracement.
Bull - green path (yes it is not Ultra bull because it does have us dropping, but it is a healthy correction that when bottoming will lead to 450+).
Bear - top is in, see you at wave 2 buy area
How to trade: on rallies take long profits, but keep positions open in case they keep extending this higher (anything is possible). Hedge appropriately on any positions w/ size. Draw the breakout TL on your chart. Short the TL breakdown
IMO the rally is either already over (topped friday) or we extend slightly into next week before a large retracement.
Bull - green path (yes it is not Ultra bull because it does have us dropping, but it is a healthy correction that when bottoming will lead to 450+).
Bear - top is in, see you at wave 2 buy area
How to trade: on rallies take long profits, but keep positions open in case they keep extending this higher (anything is possible). Hedge appropriately on any positions w/ size. Draw the breakout TL on your chart. Short the TL breakdown