NQ has been melting up all month, notice how RSI never hit oversold even when MFI did.
I expect the slow melt up to continue until March CPI release (April 12th), so expecting a gap fill as early as next week. If CPI comes in low, then expect an APril pump for AAPL and FB earnings. That's what they always do in a bull market.
Notice how I haven't said anything about shorting tech even though AAPL is overbought? I think they're gonna keep melting FAANG stocks up, and you never short a melt up, there's no money in it unless you get lucky. Even if you timed AAPL perfectly, it dropped only 2% between yesterday's high and yesterday's low. Didn't even hit yesterday's low despite the morning tank today.
All indications are that NQ will break out of this cup and handle formation and hit 13750
I expect the slow melt up to continue until March CPI release (April 12th), so expecting a gap fill as early as next week. If CPI comes in low, then expect an APril pump for AAPL and FB earnings. That's what they always do in a bull market.
Notice how I haven't said anything about shorting tech even though AAPL is overbought? I think they're gonna keep melting FAANG stocks up, and you never short a melt up, there's no money in it unless you get lucky. Even if you timed AAPL perfectly, it dropped only 2% between yesterday's high and yesterday's low. Didn't even hit yesterday's low despite the morning tank today.
All indications are that NQ will break out of this cup and handle formation and hit 13750