We’ve been tracking the Fibonacci analysis of the QQQ for you and we pick up where we left off last week. The correction looks to have ended inside our Fibonacci focus zone and the next move is likely lower. We’re working shorts in AMZN with options and I’ll show you how we’re doing it.
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Thanks Todd where do you see the QQQ in 6/9 months. I have 100 ct on the 85 strike and wondering if I should hold for a bigger move lower. Thanks. I love your videos. Thanks for all the help you give to us small guys trying to hit the home run in the World Series. Mark from KC.
Hey Mark – thanks for the kind words. I’m happy they help. In this market, which is SO day-to-day, it’s tough to say where we’ll be in 6-9 months. My best guess is we’ll have another leg down over the next 1-2 months into 94.00 Fib support zone, which then setups a pretty healthy A-B-C correction back up that we’ll have to analyze at that time. Sorry I can’t be more specific, but like I said it’s day-to-day in here. -TG-
thanks Todd sounds like a time to get out at 94 ish and wait for a bounce to reload I am also short some s&p futures too at the moment with stops above 1927.00 .looks like I need to spend more time on Elliot wave and do more learning .thanks a bunch
Good job Todd, as usual
Thanks, Richard. Keeping head down and staying humble.
Excellent explanation—-Thanks
Great Stuff Todd. Can you please do a quick review in one of the videos of why we do OTM Debit Spreads. Apologies, you probably covered it but I was away for a while.
Cheers,
Michael