Congrtulations! Looks like QQQ will arrive at our first target of 493 today. A big run up since it broke the 460 on 9/11. Bigger picture wise, nothing has changed, QQQ could reach ATH before end of the year (520).
Originally, I was thinking QQQ could pull back a little bit at 493 since this is the last gap it needs to fill before charging higher, so, i had planned to do some swing trade and maybe take some profit at 493. But looking at the pre-market future movement, and also the fact QQQ has consolidated around 480-485 for a long time, i would look at the price action today to decide if it is worth doing this swing trade.
Checking TA, all signals show uptrend and weekly momentum signal will almost for certain turn green from red (unless we have a big sell off tomorrow)
For a more simplifed strategy, we could totally ignore this potential swing trade opportunity and just hold until ATH, and also "buy on any dip".
Looks like NVDA will test the uptrend line and we need to watch if it will break 127.5 at the close today. If it does, it would be a singal that NVDA finally break the downtrend started from early July.
All signalls on Elliot wave is that the low of 8/5 now looks like the completion of the quick ABC pullback from July, and a start of the new 12345 uptrend wave. This should be the wave 5 of the bull market that was started from low of 2020.
If this assumption is indeed true, QQQ could run even higher than 520 (to 540-560) as the wave 5 of the bull market. I am actually still shocked that this could be the case as I was expecting that ABC pullback to last longer. But the price action of QQQ is saying a new 12345 uptrend has started from 8/5.
Congrtulations! Looks like QQQ will arrive at our first target of 493 today. A big run up since it broke the 460 on 9/11. Bigger picture wise, nothing has changed, QQQ could reach ATH before end of the year (520).
Originally, I was thinking QQQ could pull back a little bit at 493 since this is the last gap it needs to fill before charging higher, so, i had planned to do some swing trade and maybe take some profit at 493. But looking at the pre-market future movement, and also the fact QQQ has consolidated around 480-485 for a long time, i would look at the price action today to decide if it is worth doing this swing trade.
Checking TA, all signals show uptrend and weekly momentum signal will almost for certain turn green from red (unless we have a big sell off tomorrow)
For a more simplifed strategy, we could totally ignore this potential swing trade opportunity and just hold until ATH, and also "buy on any dip".
Good luck.
Looks like NVDA will test the uptrend line and we need to watch if it will break 127.5 at the close today. If it does, it would be a singal that NVDA finally break the downtrend started from early July.
All signalls on Elliot wave is that the low of 8/5 now looks like the completion of the quick ABC pullback from July, and a start of the new 12345 uptrend wave. This should be the wave 5 of the bull market that was started from low of 2020.
If this assumption is indeed true, QQQ could run even higher than 520 (to 540-560) as the wave 5 of the bull market. I am actually still shocked that this could be the case as I was expecting that ABC pullback to last longer. But the price action of QQQ is saying a new 12345 uptrend has started from 8/5.
Given many positive news around Nvidia lately
到今天我仍然不明白为啥 它2 wks 前被downgraded