Key resistance here on Nasdaq. Interestingly, SPY has a more bullish support setup on a major channel, so this juncture is really a massive pivot point. If we go much lower I think the market can drop to areas near the October lows.
QQQ still looks bloody, and bear flags are coming in on lower timeframes. I don't see a sustainable bottom until:
1. We hit the 268~ area
2. We see a BIG spike in Volatility. IV30 and VIX are still very low considering the size of this correction.
Incredible Demark confluence on DXY. Monthy+Weekly+Daily+4hr TD9's. Never seen this before. Either we roll hard here and risk rallies (alongside gold, commods etc) or it's 2008. My moneys on the former
TLT is staggeringly oversold, everyone and their dog is screaming about higher rates. Understandable, but how much is already priced in? Will the FED reverse course? Will and equity correction send $ back into bonds?
Hard to predict the news, but this chart is a screaming buy to me (on a 2-3 month timeframe). We MAY have one more low to the 116~ area which would...
Absolutely incredible setup brewing on QQQ. Huge measured move + TD9 on tuesday + we have the FED Wednesday and the potential for a Russian Bond payment missing. Given the posture of put buyers, we should either see a 2008 style crash or an absolutely biblical short squeeze. My money is on the latter. High risk, high reward.
Russia is set to "blackout" Their internet on the 11th, and we have the US CPI print this morning at 8:30am EST. Going to be a wild week. I think we are setting up for OML then a massive buying opportunity monday/tuesday across the risk spectrum.
This is an event based chart for context on the current Ukraine/Russia war. Crimea was certainly different but the comparison could be valuable. What I can gleen from this is markets bottomed when bilateral talks began. Whether Russia defaults or not remains to be seen (bond payment is due Mid March)
Pfizer looks to test $50, and possibly the gap around 46~ if things get really ugly. Omicron is looking really promising as granting significant immunity after infection, which should reduce demand for further vaccinations. These vaccines companies have YEARS of covid priced into their stocks... Short side is getting a bit long in the tooth for new entries,...
MRNA going according to plan from my earlier posts. I can't update with charts anymore, for some reason? So I am posting again. Re-iterating targets in the 170-180 range. $230 is the Line in the Sand for bearish continuation. took off a few of my puts today.