THE BOTTOM LINE, THE SHORT-TERM TREND IS DOWN, I HOLD SHROT POSITION OVERNIGHT.
No idea about tomorrow but the chart pattern looks incomplete so my guess is after the rebound there’d be another leg down to test today’s low at least.
QQQ down 5 days in a row, buy at close today and sell on the very first up day, you’ll have 76% chances since year 2003.
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||4 of 5 BUY||5 of 5 NEUTRAL||Cobra Impulse in BUY mode; Non-Stop in BUY mode.|
|Short-term||6 of 6 NEUTRAL|
|SPY SYSTEM||ENTRY||STOP LOSS||INSTRUCTION: back test is HERE, signals are HERE.|
|CI Buy & Hold||04/28 L||N/A|
|CI Swing||*Long if break 05/04 high and close in green tomorrow.
The stop loss will be 1.7*ATR(10).
DEMO ACCOUNT FOR SHORT-TERM MODEL: