We are in possibly the strongest most Bullish Market ever... The Buy the Dippers are in seventh heaven, and the permaBear Contrarians are in the dumps... BUT if you read My Idea about Seasons, and how there is a time for everything under heaven... I'm beginning to think about getting heavily back into SQQQ and using 60" charts instead of daytrading Futures... This one hour chart shows price is way up there in the stratosphere, way above R4 in The Pivots.... BUT in 1 hour charts we are under the 200 EMA, and even though the last signal was buy, soon we will one again start to get sell signals in longer term 4 hour and daily charts.. When we do I will go all in on SQQQ.
Stay tuned.
Comment
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Well possibly "not yet" is sooner, rather than later. We are higher than when I posted this, but you can almost feel a shift, the market kept erupting downward yesterday and last night.. At the end of the day we were seeing a chart struggling to stay up, with many hairy candles pointing down, not up like previous weeks. I learned one thing about the SQQQ it is not the best method to profit from this down move, it only went up a few pennies after a big moove down.
Well I thought maybe I was wrong on this prediction, but it looks like I was right afterall.
dryanhawley
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if we get a correction of the size I am talking about it is more likely it would happen on Tuesday or Friday. If it doesn't happen this week, then the odds go down cause
Christmas Rallies are common, but not guaranteed.
dryanhawley
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note another chart of mine that combines VWAP and The Pivots. We were trading 50 points above R4 last week, and if we had gone 50 points lower we would be at R1.
During the last few Bullish runs, we only went down to S2 on a regular basis and S4 occasionally.
dryanhawley
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dryanhawley
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In the chart below I put arrows to show how even in this bullish market, during previous rallies there were many small corrections on a regular basis down to S2, fewer to S4 granted, but in my previous posts months ago
I shared a trading plan that made me money 30 trades in a row, using a 60 minute candle, buying TQQQ for a few days or a week, as a swing trade, and then buying SQQQ for a few days, as a swing trade.
As it says in the subject "not yet". I will point what I see as i see them, I am not one of those who makes blind predictions.
dryanhawley
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dryanhawley
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Loulekaram, I'm not talking about a bear market. No market goes up straight up forever... We may well continue going higher for 6 months, but do you really believe we can continue hitting new all time every few days for 6 months? I see you have a reputation of 0 and 0 followers... I have been here for 5 years and posted 75 charts which came true. Like when I predicted the correction we had in February in December. . I say we will go down to maybe S2 sometime soon. Be a Man and publish your Idea and back it up with a chart. It's petty to be the guy who argues with those with a history of success, but is afraid to publish your own My Idea charts.
sipiceanu
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@dryanhawley, I would say don't be too upset about those who disagree, can't win them all. Some will appreciate what you have presented. I just learned for the 1st time about the TEMA so to me this was very useful. From a high level perspective (indicators aside), I find the market to be irrational, we have the highest Covid numbers daily, higher than in March 2020, yet the Mkt seems to brush this off for the last 2 weeks in hopes of a paltry stimulus package ... let's see what happens, small correction is due very soon, most stocks seem to be in overbought conditions based on the RSI. I happen to agree with your prediction.