Market Analysis for The Week Ahead
Week of 7/6
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Since the 6/23 look below and fail of the 2-week balance low the index has been an absolute tear. That was the last time a prior day low was taken out, and it proved to be quite a trap.
QQQ 0.00%↑ paused only briefly, setting up its own trap. Tuesday of this past week, the Qs traded down to the prior Friday’s low, forming a 3-day balance. Wednesday premarket swept those relative equal lows and it set up the best trade of the week.
There has been nothing to do but get long or stay long since 6/23. Price has gotten pretty stretched as of this past week and has come into some key extensions. Matters remain straightforward should the grind higher continue so there is little discuss aside from upside targets. If we do get a pullback, there is once again a ton of room for a daily higher low to form. Below we will identify those areas likely to provide a daily higher low in the event of a pullback. We will monitor the development of such a balance (should it form) with the daily plans and in the Discord, along with identifying opportunities for execution as we did with the QQQ 0.00%↑ long.
PAID CONTENT BELOW AND IN THE DISCORD