$TQQQ, a Brief Update, for the bigger time frame, should check the Macro counts: Update sent on July 18th should be reviewed.
For today and based on same macro perspective sent on July 18th, we could have an intraday reversal of 1.2% on $QQQ or 5% on $TQQQ.
We have a double top resistance at 71.90 micro and macro as seen here on Alt1M – as shown below. The market “could” top at this line and find support at 68, that should happen based on setup, but currently the market has strength enough to continue moving consistently higher at least to 79.01.
Joel agrees and if you were to pick an index at these levels, this should be $NDX. Particularly, If you are trading $TSLA, let me tell you this: one thing is to say Musk is emotional, I say that at least twice a day, but another thing is to doubt about Musk’s capacity to outperform, at the very very core of Musk, we will find value… and we, —as we have said many many times— we try to be extremely careful with value, once value goes off your hands, you have to chase it.
Have a nice day. Carlos – Many thanks to Joel Withun
Seeking Options Team
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