Keep watch of this ratio-We're looking like 1999 based on this ratio. Tech to go hyper before tech wreck 2.0? The recipe is slightly different but it's starting to smell the same. Even if this plays out, we should see the NASDAQ cool off & consolidate for a bit..perhaps we'll see some weakness going to the Fall prior to election with increased volatility in the...
The TECL algo has over 680,000% profit since 2012 in backtesting (see testing screen below). In forward testing it predicted the September market fall (see short order, orange bar on Sep. 1) and it's recovery (see long order, green bar on Sep. 23). It gave a bearish signal (see the red bar down).
TECL is a leveraged 3x bull tech ETF and it's closely related to...
One of two things will happen:
Many puts will be OTM, we rally
- I will consider closing positions whether they are in profit/loss or roll over
The PC ratio will continue to push forward
- I lose a bit on this but net profit on overall positions
There are a lot of new traders getting wrecked. I'm sorry. Follow the trend. Follow price direction. Remember: The news is irrelevant. Follow price. Can you keep your money in the right direction?
Since NQ started that awesome batman pattern back on July 20th, It has been swinging wildly up and down. But we find ourselves back at the top of the channel around 11,000 where anything can happen. So far NQ has burned up to tap a bit over 11,000 and correct immediately. We expect no different this time, but that doesnt mean it cant break out and fling itself...
RSI, Chop, ADX all showing divergences...
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
trending up for now. for those who are more conservative you may want to wait a little bit longer until chop goes down 40 on the 60 min chart.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
MFI 50 CROSSING OVER ON 50 PERIOD
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Updating these charts for this week as the market character continues to change. If the NASDAQ is going to return to the regression mid-point lines for 1yr, 2yr, 5yr and 35yr, there is still significant drawdown to happen in the next couple months.
Over the past two weeks, the index has gone up and down, but has consistently followed bearish trend lines, even on...
This is the NEW YORK COMPOSITE INDEX. Please see my previous post just a couple of weeks ago about this drop and what to expect from here. Based on all the data I can muster to analyze, the correction is not over. It's possible that we rally and/or drift sideways into the election but this looks very concerning to me.. I keep hearing from too many people that...
The trend line from the March lows has been broken and the ETF is on the cusp of breaking below its 50-day EMA.
What's more, the MACD is showing a hugely bearish reversal, even more dramatic than it did back in March. This suggests further weakness for QQQ.
SQQQ offers 3x inverse leverage to the QQQ ETF. QQQ tracks the Nasdaq 100, an index consisting of the 100...
NASDAQ:TQQQ
On 9/8/2020, it broke support but recovered the next trading day. While doing so, the 3 gaps down bullish reversal got a confirmation when the prices crossed above the level of $124.00.
look at the Stochastics, extreme overbought sell still in effect. Let me find the chart in the right timeframe.
My shorrts are nearing the Camirilla Pivots weekly R$ my trading plan is not disionary, I must take profits soon i think.
Equally weighted S&P 500 (RSP) and IWM had the smallest decline Thursday and Friday compared to other indices. This could signify that the sell-off was mostly over valued tech stocks and not a broader market sell off. Compare this to the price action in June, where RSP and IWM fell significantly, indicating a broad sell off of the S&P 500.
Using this chart, I...
