Yet another perfect CALL. QQQ following my insructions to a T. We are on our way in wave 2 updated same same same same chart did not have to make a single change. This is the way I like it. When the Analysis is not anal-ysis its good and it has lasting and staying power as per the Law of Trends. QQQ with today's action
QQQ again as a reminder of a good call that once again as usual was a LONER while the whole world was calling for more downside without any respite, yours truly said, No sir, the commerical hedgers are in Long extension. And it matches my TA eventhough THEY do not do TA
Keep this CALL chart up here from Post #1096 for reference and to evaluate how deep the rally goes. I want to know how good I am getting at this game. It is important to me to let the TREND let profits run but for this one must have a good enough understsnding of the Mechanics of Trend
Even the mighty SPX cannot resist my accurate CALL Look how nicely SHE reversed at MY outlined in advnce support level from monthly. SHE know better than to mess with a monthly support that is packed with battalions of untapped power the often ignored and relegated to the basement magnificent 23.6% Fibo level See daily chart SPX for green bar right on 23.6%. But wait there's more. Its a magnificente bullish engulfing bar, the kind of bar that happens when yours truly wraps his arms around a woman with a tiny waist and whispers in her ear, "you belong to me now" Joaquin takes it to a whole new level here. He don't know zip about the golden ratio but his artistic nature feels it in his bones and he lets it rip here with 61.8% all the way to 261.8%, a fenomenal feat similar to what John Lennon used to do. ditto for Keith Richards, ditto for hendrix
QQQ No change, no trade today, no trend obviously. Same chart same play continues into tomorrow. The low from yesterday held up today. Beter seen on daily timeframe as a doji for today's action.
see post #1106 above and then dig this: despite the down day and the bearish engulfing candle pattern I am very reluctant to go SHORT so I have no trade in the QQQ. Here's the reason for my reluctance: QQQ is on the 200-week ema and the slingshot power is very real to me. Also, look at teh divdrgence on weekly Macd. TRAP. I stay out So therefore my stance has not changed
Here's another major reason why I am super cautious right now about the short side ....... Vix is not validating the bearishness. Vix does this in a "B" wave. A "B" wave is a phoney wave designed to trap the unwary. Vix does not respond to this wave as it senses the falsehood.