ProjectSyndicate

QQQ D1 update: 20%+ correction SOON(NEW/UPDATE)

Short
NASDAQ:QQQ   Invesco QQQ Trust, Series 1
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QQQ D1 update: 20%+ correction SOON(NEW/UPDATE)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.


Yes, I know, called that previously, and since then
we still pushed slightly higher. However, only producing
marginal highs since then. TSLA also gone parabolic
pushing Elon Musk's networth >70 BLN USD in process,
which is beyong ridic and just confirms that
we are now in irrational exuberance / late stage of
the bull market.

🔸 Summary and potential trade setup
::: QQQ daily hour chart review
::: fake V-shape recovery spells trouble
::: C1/C2 is 1.44/1.62 extension of AB swing
::: we are likely already maxed out
::: or got very limited upside from here
::: either way setting up for 20%+ correction
::: 3-5 weeks of correction incoming soon
::: better be prepared in advance
::: when there's GREED there's also PAIN
::: get ready for 20%+ decline in QQQ
::: a lot of OPEN GAPS left behind
::: they will get filled soon
::: good luck traders
🔸 Supply/Demand Zones
::: 205/188/176 fresh demand zones
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment: BEARS
::: Sentiment outlook short-term: BEARISH

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