Volatility may spike a bit VX is still trending down, but we would not be surprised to see it find support at 15.1 and spike from there to resistance at 16. VX bounced from this level before on Nov 14 and got up to 17.5 before topping. NQ On Nov 19, NQ 4-hour chart showed its candle reaching support at the 200 EMA green line. NQ MACD cyan line crossed over its signal orange line. This technically was the start of the latest bull swing, giving us permission to enter long NQ TQQQ when they dipped to support. And that was what we did. However, on Tuesday the signal became muddled, with NQ candles running into resistance, and not able to get above 21025. This combined with a possible rise in VX ahead of PCE key report was the reason we exited our TQQQ position. We don't have a clear read on what NQ will do next so we're just staying on the sideline for now. The best setup next for NQ is for it to retest support zone 20633 - 20717. NQ may bounce from there to get up to R1 at 21250. SOXL SOXL is likely to retest support in the zone 26 - 27 to form a W bottom. Once this pattern is formed, SOXL is likely to rise and can reach R1 at 34. TZA TNA RTY RTY has formed a clear top on its 4-hour chart. So the chart to keep an eye on is TZA. Its 4-hour chart shows its MACD cyan line about to cross above the orange signal line thereby forming a rising W bottom. This is a low-risk setup to enter TZA. Our personal trade plan We do plan to enter TZA when it retests 9.65. Click here for Signal Trades spreadsheet. Disclaimer The information presented here is our own personal opinion. Consider it as food for thought. We are not offering financial advice. We are not promoting any financial products. We are not registered financial advisers or licensed brokers. We make no guarantee that anything will unfold according to our projections. You are proceeding at your own risk if you follow our trades.
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