%% Plenty of value around 50dma or above 200day moving average. QQQ volume is above 50 day average volume; but SQQQ + QQQ/qld have uptrended nicely, with below 50 dma volume , for years+ years. NOT a prediction + not suitable for all investors..........
FAANG's + (MSFT and TSLA) were in driver seat today. Although GOOG and NFLX nothing big, especially if you look at moves made from where they opened, not where they closed yesterday. But new alltime highs are not likely far off if tech continues to get a bid. Question is, will it continue? Many also had gap ups today. Will they stay open a while longer?
Horizontal Triangles . . . consist of five sub-waves that form a 3-3-3-3-3 structure, labeled as A-B-C-D-E. https://school.stockcharts.com/doku.php?id=market_analysis:identifying_elliott_wave_patterns
Just as I figured, Any and all bearish patterns on longer time frames get voided. Everything was in place. The pattern will be void if we continue to stay above the neckline.
As always. They can't let it fall apart. Like I said the nasda will recover back to new highs by April.
Every time I get all excited and ready to buy at lower prices....and every time, the FOMC won't let the markets correct. Maybe a small correction happens now and then. Look back and show me a meaningful correction, last march haha, lasted 2 weeks.