QQQ - Longest Run - History Shows Doesn't End Well

27 ธ.ค. 2019

I AM NOT ENTERED IN THIS POSITION.
I will update with possible entries. Looking out to entry next Monday or Tuesday possibly.
QQQ is at the "longest run" its had in history. This is when I start looking at bearish entries. Matter of time to downturn.

Fear and Greed Index at 93 money.cnn.com/data/fear-and-greed/

Chart Details
We are off the rails with QQQ - going into outer space on 1 trendline.
Typically this does not end well.
Gaps to fill to $200. White support would be entry long or exit for bearish entry.
RSI is almost at ATH's. Today's RSI 80.5. All time high was 84.
RSI and Daily/Weekly trends are all in danger zone based on past history.

Entry Options
Potential of 5-9% downside looks good for options entry. Most likely bearish call credit spread.
I will update with specifics once I review all charts.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website moneypatterns.com and will be updating my username here. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
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27 ธ.ค. 2019

บันทึก

Possible Options Entry:
Enter Next Monday or Tuesday
Jan 17 expiry. Call Credit Spread. 212/215 for $1.90 Credit or greater.
Max loss is $109.69 (this can change until order is actually filled).
This order implies that if QQQ closes below $212 and $215 by 1/17 the entire $190 credit is kept.
Exit at 50% profit or greater. Or before expiry date.
This order has greater payout than $5 spread.
Jan. 17 QQQ Calls have greatest open activity - just like SPY. Hint.