NASDAQ QQQ ETF supply and demand analysis and forecast
NASDAQ QQQ ETF supply and demand analysis and forecast for 22nd April 2019. NASDAQ QQQ ETF has broken all time highs around 187 again after a strong correction that lasted a few weeks.
There is a clear long term weekly and monthly uptrend with all time highs previously eliminated and brand new demand zones created on bigger timeframes like the one on the weekly timeframe around 180. In an uptrend, supply levels are eliminated and demand levels are created and respected.NASDAQ QQQ ETF has already broken all time highs, expecting to see similar price action on SP500 SPY ETF and other american indexes like Dow Jones and Russell 2000 indexes.The bigger the impulse created by new imbalances of demand the better. There is no reason to go short counter-trend on NASDAQ QQQ ETF when everything is heading north and new demand levels are being created. Trading with the trend is always higher odds.
There is a clear long term weekly and monthly uptrend with all time highs previously eliminated and brand new demand zones created on bigger timeframes like the one on the weekly timeframe around 180. In an uptrend, supply levels are eliminated and demand levels are created and respected.NASDAQ QQQ ETF has already broken all time highs, expecting to see similar price action on SP500 SPY ETF and other american indexes like Dow Jones and Russell 2000 indexes.The bigger the impulse created by new imbalances of demand the better. There is no reason to go short counter-trend on NASDAQ QQQ ETF when everything is heading north and new demand levels are being created. Trading with the trend is always higher odds.