People ask me all teh time what do I mean by melt up?
Well look at today, futures selling off, MFI dropping but NQ is heading up anyways because the market is buying the underlying stocks on the little dip.
When will the melt up end? No idea, could be tomorrow, could be the next Fed meeting. I don't have a good way to predict the end of a melt up, usually taking a week or two off from shorting stuff works out, lol. This is also the reason why I don't short US indices, I usually pick foreign ones.
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Note: Imma probably gonna take the day off and also sleep in tomorrow. made some beer money off PTON puts this morning (lol, PoS), wish I had also bought some SFIX puts Friday (huge PoS, lol).
Tomorrow is Ponzi Tuesday, so probably a gap up.
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NQ is melting up but the other indices are just going sideways....
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Europe looked bearish this morning and never really turned around so no guarantee that the market will gap up even with this tech & retail melt up. Could go either way tomorrow morning.
@Infidel777, Not simple in any way, but I follow cycles and there's a good possibility the correction is over. Also, smart money has shifted to buy. First time a while. We shall see..
thelion01
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BTFD continues... rug pull will be a very surprise to all the people get condition to BTFD
hungry_hippo
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@thelion01, that's the nature of a melt up.... you never know when it will end
thelion01
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@hungry_hippo, bear has been beaten up so bad lately... i have to agree with you take some time off from this nonsense mkt lol