This is about a simple as it get from a TA perspective. Tech broke the 2009 channel back and July 2020 and has not looked back since. Given its current strength and trajectory it could keep running all the way to November before we see another pullback. The air is really thin up here, but investors don't seem to care.
RSI was overbought so sold off a bit. That money went into dividend stocks and the Dow. You can see YM and NQ went opposite directions mid-day.
Money is not flowing out of teh market, it's just rotating. Anyone's guess as to the rotation tomorrow.
If retail breaks out, there will be huge opportunities to short at/before earnings.
Wave count looks good with 5 of 5 down completed. Potential spring formation. Woodies CCI hits extreme level and the moon is shifting phases soon. Reversal incoming.
Long SQQQ with Jul 23rd calls @ $10.50 strike.
Not financial advice.
(Opinion Only)
Watching open to see if we see a drawdown back to that 343-345 area (Fibonacci extension levels).
No guarantee repeats but seems they sell off the Q's when it closes at or near the trend resistance the next session opening..
First 5 to 15 mins should be telling.
Quarter end rebalancing and locking in profits for the quarter-end statements will be...
When investors were fearful of the growing inflation they were looking for an asset to hedge against this madness. They used to buy gold back in the days, but recently they found Bitcoin. So now whenever investors lose confidence in the market they drop bonds driving the US10Y up and buy bitcoin instead.
Who is in charge?
Crypto-market is reacting to the global...
AMD has had an explosive bullish move out of its flag pattern that it developed. It is sitting right under a big resistance lvl at $85.40. We had some conosolidation this past friday after that massive Daily candle. Let's see if we can break above the $85.40 lvl which would open up a move to $88-90. Keep an eye on SPY/QQQ this week to see if the market conditions...
Vix (log scale) is extending losses after the existing home sales print this morning - we're now down over 16% on the week after last week's spike to 21, and approaching the long term support trendline (in red). Let's see if markets finally roll over, and Vix becomes the most crowded trade on the street again.
Typically a good top signal is when u have > 3 more green candles above the keltner channel. Together with a decreasing ATR / and RSI >65 show signs of QQQ topping out.
What is missing a trigger that:
1) Thursday's job data (given the past few job data has been positive for QQQ though. Jobs might be picking up)
2) Wednesday's Inflation prices PMI ( clearly it...
So much on the line for the markets, as we approach big levels on $MSFT
This is a video update for those of you who have been following this trade since $253
I am thinking we build a cup and handle if we get a rejection and the market stays bullish or holds!
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NAS100/ QQQ H2: BEST Level to BUY IT +10%/+15%...
At this moment NDX feels hot, but from a technical perspective, it appears to be forming a rising wedge. According to Investopedia, a rising wedge will most likely breakdown. (1) In contrast, we can see NDX formed a symmetrical triangle last year, which are not expected to be more likely to break up or down. (2) That symmetrical triangle was slightly rising, with...
