Both gaps have been filled (almost). Is the selloff done for now or is it going to continue?
If it is going back up, then QQQ could face another dilemma, a possible Head & Shoulder…
I’m waiting for more movement before taking a side.
Stay tuned!
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It is going to move. We are the top/bottom of right shoulder. We should have a good idea by eod or tommorow of future direction.
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The right shoulder on VXX did not sell, so the selloff continue for now!
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Yesterday VXX made a intra-day H&S; the right shoulder did not materialize, so selling was expected to continue. Today VXX right shoulder on a longer timeframe showed up; everything now is possible. I'm sitting aside to see which way the market is going to take; maybe it wont be before tomorrow or later. Keep an eye on this right shoulder.
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Looks like we are going down
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Possible reversal long.
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Well, I'm long.
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Looks like the market is flattening as it wont go up anymore. Looks very bearish to me. I opened a straddle, more selling is likely imo.
Agree. Formed a bear flag and broke it intraday. Too soon to catch falling knives IMO
DaddySawbucks
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Thinking same, looks like a hammer Doji, waiting on 4hr to confirm it.
tipere445
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Could be the end of the selloff. Need 2 to 4 hours to confirm. I wont be here this afternoon and tomorrow, but if it bulls, the market likely to go higher next week.
DaddySawbucks
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Buy a straddle! :-)
tipere445
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@DaddySawbucks, LMAO, it is paying my straddle this morning dude!