2/17/2020 Stocks continue upward breakout. Just like I thought last week, I don’t think anything will stop the momentum yet.

Happy President’s day! Hopefully you get the day off. I certainly don’t have school 🙂

Below is the weekly chart of QQQ. We got yet another healthy move up this week. Buying here wouldn’t be horrible, but probably not great either. I think because we have such strong momentum, any sort of pullback will be bought aggressively. I could see a pullback down to 220-225 range, but then the upward trend will likely resume.

QQQ weekly 2_17_2019

2/10/2020 Stocks continue higher for this week yet again. I suspect we will go even higher since we broke out of the range I was speaking about last week.

Hi everyone. I didn’t get to blog yesterday and I suspect that posts will have to be on Monday now since the weekends are very packed for me this semester. Sorry again that I missed the post yesterday. 

Let’s look at the daily chart of QQQ below. Last week I spoke about the range from roughly 217 to 227, and I suspected that if we broke above that range, we would continue much higher, and vice versa if we broke below the 217 level. We broke above that range last week, and went up quite a lot today as well (Monday). There aren’t any signs that this upward move will end anytime soon. 

QQQ Daily 2_10_2020

2/3/2020 Stocks close a bit lower but recover today (Monday).

Hi everyone. Sorry for the late blog post, and I hope you enjoyed the superbowl if you watched it!

Below is the daily chart of QQQ. The upward momentum has come to a halt and I suspect we will stay at around these levels for a few weeks. I think selling near 225 is a good idea, but if we stay at or near 225 for a while, I suspect we will break higher again. 

QQQ daily 2_3_2020

1/21/2020 Stocks continue upward and QQQ is nearing the 225 level (measured move up we discussed last week). Perhaps this is the price level where it will finally slow down.

Hi everyone, I hope all is well.

Indexes made another strong move upwards this week. We discussed that a measured move up for QQQ would result in a move to roughly 225 last week, and we are almost there now. Notice that the weekly RSI is now above 80, which suggests that this move is extremely strong (high momentum). 

QQQ Weekly 1_21_2020