QQQ Final Bottom Today / Intraday Reversal / Bear Market Over?

1. Looks like a possible low here, and the pattern on the QQQ goes back 18 months.

2. Also, this Inverse Cup & Handle we are now in the handle area. If we continue higher, we may
chop our way out of the Vanna Nightmare we have got into here. This pattern is seen
at the end of Bear Markets only. Also we have the following showing Bear Market
Ending Patterns as well:

SNOW
TEAM
AMD
NVDA
LRCX
QCOM
MSFT
ADI
ACN
CRM
FB
AMAT
ADBE
AMZN
ORCL
INTC
CSCO
MU
AAPL
INTU
IBM
TXN
AVGO
NOW

Old School Tech

3. We have varied patterns here, the old school Tech looks like in breakout mode, as value plays being kept down for so long;

New School Tech

4. We have MSFT and especially CRM, SNOW (Perfect Example - Textbook), and QQQ showing a POSSIBLE end to this crappy Bear Market we
have been in a Rolling Bear Market since GME blowup in January 2021.

5. VIX - Buy Tech

The VIX once again over 30. When the VIX is over 30, you hold your nose and buy stuff. At this point I would choose Tech, Old School Tech, Financials, Energy (on pullbacks), Dividend / Yield Stuff.

Yields

I would also think about buying Bonds at this point as well. Yields are played out.

6. What to Avoid

ALL PRICED IN

7. Looking like pretty well global slowdown, inflation, high yields, supply chain issues, China Lockdown, and Tactical Nuclear War are priced in.

I would avoid Utilities and Consumer Staples, and all defensive's are way overbought.

Cheers

- drchelsea

Comment:

UPDATE

April 26th Bottom

Quote from April 25th

"We though, believe, that we are at the end of a Bear Market that goes back 18 months.

We trade, and have long term accounts. Long term, I like old school dividend tech, and beaten down tech that is profitable and can pass on costs at this point.

Short term, I wouldn't do very much until you are professional trader.

Traditionally VIX over 30, and approaching 35 is the time to buy stock historically.

That being said, there may be more pain / downside ahead. Looks though, like a bottoming process, and if
you ever catch it exactly, it is a fluke.

Have a good one.
Cheers"

QQQ Target $460

48 Percent from $312

TARGET $460

Comment:

Where to Find Dr. Chelsea?

If you looking for me, I will be in "Shorts Hell", which is exactly what the NEXT 4 TO 6 MONTHS WILL BE.

I will be there with a bag of popcorn to watch the Short Carnage. The whining
is just starting.

UKRAINE, RECESSION, INFLATION, FED, INTEREST, CHINA, SHUTDOWNS!

Please stop that. You don't know anything about the Market if you say any of this please.

Cheers.

- DRCHELSEA