If NQ decides to hit the bottom of this channel again, it's a long ways to go.
Not sure exactly how far this SNAP drop goes, playing by ear but the basic assumption is that either MFI or RSI needs to go oversold before we get a bounce. I do not recommend going long the next day or maybe two. I think garbage stocks take a crap, SNAP just showed owning garbage stocks is a dangerous move than can cost you 30% overnight without warning.
I have never seen futures throw an island gap, not only is the market breaking rules but it's throwing new formations. It does remind me of the Dot Com bust though, especially with a lot of people trying to catch the knife. See my ARKK post, Cathie is the dumbest knife catcher of all.
Not sure exactly how far this SNAP drop goes, playing by ear but the basic assumption is that either MFI or RSI needs to go oversold before we get a bounce. I do not recommend going long the next day or maybe two. I think garbage stocks take a crap, SNAP just showed owning garbage stocks is a dangerous move than can cost you 30% overnight without warning.
I have never seen futures throw an island gap, not only is the market breaking rules but it's throwing new formations. It does remind me of the Dot Com bust though, especially with a lot of people trying to catch the knife. See my ARKK post, Cathie is the dumbest knife catcher of all.