I overlayed the COVID drop onto NQ, oddly the pattern fits rather nicely.
Expecting a down day tomorrow and basically a whipsaw next week on earnings (IBM, MSFT, TXN, TSLA, NOW, INTC, AAPL, V, MC, etc) and Fed meeting.
Every overlay I plot seems to show a melt up after the Fed meeting, but that may not come to fruition especially since NQ, ES, RTY all either lost their channel or their support or both. Powell does have a habit of pumping the market though.
As with the last Fed meeting where I expected a pump because my indicators were oversold, I'll be sitting this one out as well because a lot of daily indicators are oversold. I said it this morning but I'm sure some of my followers got bear trapped, IF YOU'RE BULLISH, I SUGGEST YOU STAY OUT UNTIL THE FED MEETING.
Expecting a down day tomorrow and basically a whipsaw next week on earnings (IBM, MSFT, TXN, TSLA, NOW, INTC, AAPL, V, MC, etc) and Fed meeting.
Every overlay I plot seems to show a melt up after the Fed meeting, but that may not come to fruition especially since NQ, ES, RTY all either lost their channel or their support or both. Powell does have a habit of pumping the market though.
As with the last Fed meeting where I expected a pump because my indicators were oversold, I'll be sitting this one out as well because a lot of daily indicators are oversold. I said it this morning but I'm sure some of my followers got bear trapped, IF YOU'RE BULLISH, I SUGGEST YOU STAY OUT UNTIL THE FED MEETING.
Comment:
The overlay indicates Putin withdraws his troops today, lol.
Crazy f'ing market
Crazy f'ing market
It does indicate a bounce here, but the overlay was hilariously accurate. It usually doesn't track THAT well.