10/5/2019 Stocks bounce from midweek slump. Good time to sell or go short into a gap up (or upwards move) on Monday in the 190-192 price range. I think there’s one more leg down before we reach a local bottom.

bigfry Category1 October 5, 2019 1 Minute

Welcome back.

QQQ Weekly 10_5_2019

Despite the strong move upwards on Thursday and Friday this week, I think we are likely to have another leg down before reaching a local bottom. I’ve labeled the supply zone (resistance), and the demand zone (support). I suspect we will have another small move upwards to trap the buyers before moving sharply lower towards the supply zone I’ve labeled in the chart above.

Published by bigfry

Hi, I’m Nathan. I majored in Finance and minored in Piano Performance at Boston University (graduated in 2020). Outside of trading/investing, I enjoy programming, teaching and playing piano, teaching and playing Go, fishing, and watching anime. I also started my own Boba company while at BU. I'm currently teaching Go full time, which has been the best job I could ever hope for. I'm also currently attending the App Academy bootcamp which started in January 2023. View all posts by bigfry

Published October 5, 2019

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