NASDAQ Special - QQQ
Navigating the Path Ahead
Hello Traders,
We've just witnessed a phenomenal 3-week rally in the NASDAQ, and I wanted to take a moment to share some insights and strategies as we move forward. This post is open to all subscribers, whether you're a long-time follower or just joining us.
The Current Landscape: Bullish Momentum
Jerome Powell's speech at Jackson Hole has given the market a clear signal: more upside is likely on the horizon. With the Fed signaling potential rate cuts in September, the market is poised for further gains. The key question now is whether the cut will be by .25 basis points or a more conservative .50 basis points. While this remains uncertain, the chart is telling us one thing: the trend is still bullish until those September rate cuts materialize.
Analyzing the QQQ: A Defined Risk/Reward Setup
In this post, I've included a video analysis of the QQQ, highlighting a very defined risk/reward trade setup. This trade has the potential to drive us much higher towards our weekly upside target. However, it's important to keep an eye on our downside support levels. If we lose those, the risk of a pullback increases significantly. Check it out now!
Looking Ahead: Stay Informed
I hope you find this analysis helpful as you navigate the markets. Make sure to keep an eye out for more posts coming your way this week. I'll be diving into Bitcoin, other key stocks, and the S&P 500. Each of these analyses will provide you with actionable insights and strategies to help you make informed trading decisions.
Understanding the Charts
To make the most of the charts and annotations I share, I've included a link to my Legend below. This will help you interpret any drawings or annotations that may be unclear, ensuring you have all the information you need to succeed.
CLICK HERE FOR POST ON LEGEND
Final Thoughts
Thank you for being a part of this journey with me. I wish you all a fantastic weekend and a prosperous week ahead in the markets. Now, let’s get back to it and conquer these markets together!
Cheers,
Ryan Bailey
VICI Trading Solutions