How long is QQQ gonna be in this range?

[IronFist]

I didn't see the ES falling when I made that post.

I'd understand if the S&P fell because of Apple since Apple is in the S&P.

I know there is some correlation between the indices.

 

[Lucrum]

Quote from IronFist:

Apple isn't even in the Dow. Why would it affect its price?

That thought crossed my mind as well, although of course there is usually some correlation.

Quote from murrica:

Lucrum, sorry for disputing this, if I am wrong please accept my apology.

I believe that Bulkowski said head and shoulders is one of the more reliable. I think he also said that an extended left shoulder, as we may be seeing here (distance between left shoulder and head is greater than distance between head and right shoulder), also performs better as a top.

disclaimer: I could be wrong. Lucrum or others, please do feel free to correct me here. I am simply trying to get facts/data on the table.

No apology required one way or the other.
It's been years since I read his books or looked for such chart patterns so it's certainly possible my soon to be 52 year old memory is the one in error.
Since you're familiar with his work I'll assume you have access to it to verify one way or the other.

 

[spanish89]

Dow and S&P wont crash much during afterhours in the same way as nasdaq has (down nearly 2% now),
since the nasdaq tanking is completely due to apple crashing 10%, thus directly dragging nasdaq down 1stly due to its 5% weight of the index, and 2ndly due to the amount of panic and short-selling pressure its causing instantly on the other technology stocks,
which as are all weighted in nasdaq causes instant crash of 2%.

When dow and s&p futures open properly though (about 8am UK time), there will be a very bearish sentiment for the day spread across the market,
and especially due to how extremely overbought dow currently is i expect both those other 2 indicies to follow nasdaq down by falling atleast 1.5-2%.

 

[1a2b3cppp]

Guys am I missing something? The only thing I see going down is NQ and maybe the ES a little bit.

Dow looks fine.

 

[spanish89]

Quote from 1a2b3cppp:

Guys am I missing something? The only thing I see going down is NQ and maybe the ES a little bit.

Dow looks fine.

Just give it time...

 

[1a2b3cppp]

Quote from spanish89:

Just give it time...

Looks like a big up day for the ES

 

[1a2b3cppp]

In fact, out of the S&P, Nasdaq, and Dow, the only one that has gone down at all during afterhours trading is the Nasdaq:

edit - I accidentally cut the dates off on that image. That's a chart of the last 5 days with the current day being today, January 24th.

 

[spanish89]

Quote from 1a2b3cppp:

Looks like a big up day for the ES

Yep the market did not do what i had expected it to do.

Whilst dow is extremely overbought now it just seems incapable of falling even 0.5% - 1% ever anymore for some riduculously strange and illogical reason.

Im just dumping the dow and focusing on shorting the dax instead now though.

 

[bone]

Quote from spanish89:

Yep the market did not do what i had expected it to do.

Whilst dow is extremely overbought now it just seems incapable of falling even 0.5% - 1% ever anymore for some riduculously strange and illogical reason.

Im just dumping the dow and focusing on shorting the dax instead now though.

It's OK not to argue with the market. And less painful.

 

[1a2b3cppp]

Seems like we're back in that range.