DaddySawbucks

You really wanna go long here?!

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
RSI near 80, MFI near ATH over 90, Blowing Up. Chart has all the details. Could top this week or early next. Overlay is a WAG.

Absolute disconnect of price from reality. Selling soon IMO. Price may press higher to test the Fibo at 16,530 before rollover.

Every blowoff ends in a waterfall cascade. Excessive greed gives way to excessive fear. Gonna get real dicey real soon IMO.

Expect ATH ~400 in QQQ before it's done IMO. Might get an exhaustion gap up Thursday 11/04. See related ES1 chart, suggests Tues Top.

This is not advice, just another tutorial about nutty price behavior. I do not recommend or hold any position now; GLTA!

Trade active: Opening bear put spread in Nov 401 short the Monday 8 Nov 396, just six spreads to start, add if it pops in power hour
Trade closed manually: Closed on weakness, really expect EOD bounce to ATH
Trade active: Entered short EOD Friday 11/05, Happy Guy Fawke's Day. See related posts for details.

In late trade after gap fill meeting strong R at 4700. Shorting the pushback; IMO we topped today.

GLTA!
Trade closed manually: Closed out flat on weakness early Mon AM, might pump again into the PM trade IMO, Tues might get stupid bully again? Pure guesswork atm
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.