Text Book Head&Shoulder Pattern in NQ

[murray t turtle]

How do you measure "the move lacked participation" ? If you are using volume, I believe its somewhat normal to expect this after the market pulled back via an ABCDE pattern.....plenty of confusion and people waiting for further confirmation. On top of that, we are up almost 200 ES points in 3 days. Its tough to find value at these nose bleed levels.

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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..........

 

[SunTrader]

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?

 

[treeman]

How do you measure "the move lacked participation" ? If you are using volume, I believe its somewhat normal to expect this after the market pulled back via an ABCDE pattern.....plenty of confusion and people waiting for further confirmation. On top of that, we are up almost 200 ES points in 3 days. Its tough to find value at these nose bleed levels.

vroom, vroom

 

[easymon1]

View attachment 254118
vroom, vroom

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

 

[treeman]

Just when I thought there’s no other way to read the chart, other than... meh, I get proven wrong

 

[easymon1]

...just looked it up meself,

 

[Rickshaw Man]

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.

 

[Rickshaw Man]

Of course it's NOT going to fail. The fed will save the day every day all day, it's simply a guarantee. We have seen these market circumstances how many times in the last decade? Everytime it's up up and awayyyyyyy.

Your right, any and all bearish patterns become void.

 

[S2007S]

Your right, any and all bearish patterns become void.

As always. They can't let it fall apart. Like I said the nasda will recover back to new highs by April.

 

[Rickshaw Man]

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.