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QQQ is still in high levels - longer term uptrend is not yet broken. As volatility has picked up recently, this correction might go deeper. This wouldn't surprise me, even if I don't like to short QQQ here.
A fast and huge drop like this was a sign of higher volatility in the past (see 2011). Will this happen again?
IWM is still in correction mode. Is this a pause of the downtrend or the buttom already?
IWM could be an early indicator that something is wrong with this market. But be highly alerted! The correction right now could be over in a very short time. IWM could be the first ETF to jump high faster than the others.
SPY/TLT shows the comparison of the price action of SPY and TLT. It looks like the money flows into TLT instead of SPY. This could be an important indication of future weakness of SPY, but is not a sure sign. This means that you could be fooled by this chart, but more caution is good advice here.
SPY looks bearish to me although we could see a hard bounce back in the next week/weeks. Before I get in again I would like to see some confirmation of the positive chart action of the past as 50 MA and the uptrend line are acting like resistance right now.
QQQ doesn't look very bearish until now. QQQ is the only chart where the current correction looks like a small dip compared to IWM and SPY. Let's see how this chart will develop. I don't like to go short here (nor long) because the volatility could rise further. I don't want my fingers get burned here.
or will 70 be resistance ?
strong and volatile - as all growth stocks
stop loss 27
a strong leader
very strong chart
FENG looks very strong, could breakout again.
I wait for a breakout above 12.80, got stopped out lately around 11
I'll wait for a breakout above 210
target 220 - 224
NOAH is very volatile - stop loss at 60, small position size
-> winners know how much they can lose
OAS is outperforming and showing strength
lert's go for 85
FB has confirmed it's breakout above Fib level 2.168, I'll go long FB today, if the market is strong again.