IWM & QQQ: High chances for a corrective bounce

SmartReversals
04-06

1. $iShares Russell 2000 ETF(IWM)$

High chances for a corrective bounce:

1) Doji island below the Bollinger band

2) Volume validation

3) RSI at 24‼️

Why corrective? The Bollinger band is widening, previous events are highlighted.

ImageImage

2. $Invesco QQQ(QQQ)$

Long island candle completely below the Bollinger Band, and RSI is oversold. Those are meaningful oversold conditions.

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$

ImageImage

PS: In challenging bear markets, every downturn carries the seed of recovery. Your resilience and patience can lead to new opportunities. Investing isn’t just about the highs; it’s about weathering storms and growing stronger. Trust the process, learn from the experience, and brighter days will come!

Open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here.

Other helpful links:

💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
2
21