I literally can't stop laughing.....I cant...you actually believe QQQ will never be back below 500 ever in the history of mankind??? Haaaa hahahahahahahahah You do know just a few weeks ago it was a hair from being under 400...... It doesn't take that much to swing a market down 10% these days...it doesn't happen often but just a blip could send QQQ down 5% in few days.... And say QQQ goes to 623 684 or even 717, there better be even greater catalysts along the way to support this heavy upward move....the ai hype can't push the market up forever, once Capex spending slows the nasdaq will feel this and take a really nice long breather, probably drop a cool 25 to 40%, so even QQQ at 787 a drop to 500 would still be nearly a guarantee in the next full blown bear market.
I went from laughing to getting second hand embarrassment in his place. Not too long ago he said a 5% drop would be a miracle and a 20% drop would never ever happen again and if it did he would delete his account. As we all can see the v-clown is still here spreading bullshit. He was proven wrong in the most epic way and he is too much of a pussy to keep his promise.
I’m outsourcing the majority of my posts to HAL (ChatGPT). Why is everyone suddenly excited? Did some “news” drop or something? Let me remind you: news doesn’t drive price — price drives news. Most of what you think is causation is just confirmation bias dressing up a move that was already baked in. What you’re seeing isn’t cause and effect. It’s a reflection — It just coincides, and when it does, your bias fills in the story. The five-wave cycle isn’t a theory — it’s a behavioral inevitability. It plays out across markets like it does in nature, following the Fibonacci structure that governs everything from galaxies to seashells. So don’t mistake counter-trend news for a catalyst. It’s not the cause — it’s just the echo of a pattern already in motion. And think about it: if news truly dictated price, backtesting would be useless. You can’t backtest headlines for future results — not because news is random, but because it’s reactive, subjective, and lagging. Yes, you could backtest headlines and try to extrapolate the timing of future events... And sure, those events may be woven into the Fibonacci rhythm like everything else. But there’s no guarantee they’ll align with — or oppose — the underlying trend already in motion. And even if they do, it’s meaningless. They don’t affect the trend — they only affect your bias. Better to eliminate the noise entirely and focus on what actually repeats: human behavior, structure, and the cycle. I should note that V corrections are quite the norm for indexes...but no saying this can't do a double correction down to 500's. or lower as PTJ projected.
Don't believe it? I called ~600 plus as the top for SPY before a major correction over a year ago — long before any of the headlines that are now scrambling to take credit for it. https://www.elitetrader.com/et/thre...rong-at-this-point.378954/page-2#post-5948400
Getting this to drop and then hold the drop for more than 15 minutes is the most difficult thing on the planet. I'm expecting QQQ to hit 600 later in the year. At that point it will be near impossible to get back to 500 so that's why.
Well..its the weekend. We can chill. Listen to some Tunes. "Its Summer." Mungo Says.. In the summertime, when the weather is high You can stretch right up and touch the sky When the weather's fine You got women, you got women on your mind Have a drink, have a drive Go out and see what you can find