- Yesterday's video i talked about SPY very likely having a pull back into this resistance zone - now daily consolidation is on its way for SPY, will QQQ join - looking to see if bulls will be buying up that hourly time frame oversold RSI, and market the low of the daily consolidation. - Still holding my SOXX short - SOXS 3x leverage ETF
- $SPY and QQQ has been rotating around and currently not a lot of signs of bears. - if money is rotating around sectors that means there's no fear and money isn't all leaving the market. - But the market has ran up quite a bit so I am watching for a pull back and daily consolidation. - taking a short on the SOXX/ SMH sector, added SOXS
- SPY QQQ gapped up again but ended up closing within todays trading range, unlike yesterday bulls have a strong follow through after open. - PCE Data tomorrow morning 5:30am PST - QQQ closed around key daily resistance. - End of the quarter and month rebalancing tomorrow will bring lots of volatility - Will XLF / KRE join team bull or QQQ / SMH join team...
- SPY and QQQ have been very choppy due to sectors rotating around may potentially continue unless we start seeing XLF forming daily uptrends and joining team bull. - Or we see XLF / KRE go sideways and QQQ and SOXX/ SMH join team Bear. As of now there are zero red flags for QQQ and SMH daily time frame so i am slightly more bullish in my intra-day scalp...
- $SPY $QQQ bear had all its chances to bring QQQ down after a bear break this morning out of the tightening range we had in the last 4 days but bears couldn't follow through. - Want to see QQQ Bulls gain back its hourly uptrend and break above 308 area of resistance. - want to see XLF / KRE bounce for SPY & SPX to break out of its equilibrium bull. of course...
- QQQ Equailibirum key break will be Monday which will determine which way SPY is going to move. - SOXX / SMH turning from lead bull into lead bear today, weakest sector since Dec 2022. May drag down QQQ if it continues. Will short this sector if it continues on SOXS. - SPY bulls want to see a hourly uptrend form, Bears want to see QQQ bear break Equilibrium...
- Looking for a hourly Bear flag on SPY and QQQ after this huge move down. - XLF and KRE top watch to see if we break fear lows/52 week low. Fear would likely come back in if we do break the lows - looking for SOXX/SMH to go from lead bull turning into lead bear - Rate hikes is a head wind more for QQQ then SPY, so after Powell saying no rate cuts this year, we...