If we break to new highs it's almost a guarantee that, provided we are hitting new lows in multiple important sectors like tickers xlf, qqq, spy, we take this over 19. The only real guarantee is that whatever high we hit in UVXY we are seeing lower prices soon. low 14s is where I'm drawing these hypothetical puts expiring a me to.e early March. This is based on...
Rsi needs to bullishly diverge further, so the drop in price should be larger. There's really little room to judge this as a lower low that could hold. Around 40 is an area that might induce bullish activity. I wouldn't look for a long entry right now, but there will be one eventually. This is damage that will last up to the monthly.
Vwma has turned down, and qqe...
i see a full recovery if broader market bulls can continue this turn around. should we find ourselves in a position where melt up is taking place, i think we have no choice but to go with that. the daily picture is shaping up in bulls favor, but the smart thing to do is wait for confirmation of the trend change.
if we fail some area below gap close and trend lower we could find ourselves under 13800 soon as the ukraine border crisis plays out.
we are trending under vwma 18, hl2 offset 8 and qqe signals strategy is short. rsi looks like it will need to bullishly diverge further.
shifting into neutral we have the completion of this fractal triangle pattern on the 15 minute.
harmonics and elliot wave suggest the reversal is real, but have to see larger time frames show reversal as well.
dxy needs to find its next leg down to complete this higher low and market cap pop. if youll notice btc.d is tanking still.
it would be great to find ourselves up above 42000 again soon. that may happen but it appears as first we may take the final leg down of the elliot wave correction completion that started with the head and shoulders top. horizontals are marked as targets.
there is a lot of rabble rousing, stronk posting and hodling out there in the bitcoin space right now because we pulled back from the lows. i think its quite possibke that we 4hr bearflag, and this carries back up to the weekly timeframe where we have been bearish since november 2021. the bottom line is that we are at the upper bounds of a channel since then, and...
qqe is moving on with another short entry on bitcoin vs the dollar. if dxy opens hot to the upside there will be a completion of a bearflag. were right around the .382 of extention so if we bounce it could mean continued upside on the lower timeframes.
39516 and 40333 are targets
id like to see weakness sunday that turns around early next week as we are likely to find some level around the .5 or .618 of the bounce signaling another run up at 14500 to see if that trendline, vwma and anchored vwap are still resistive on the hourly timeframe.
five g stocks benefit from the creation of fiveg lines. the sale of fiveg capable phones shouldnt drop, so id imagine additional 5g lines are going to be opened. this inflation and rate hike sentiment will get priced in, and we should see a bounce from technical levels.
cyber security stocks are like an insurance premium on data centers. the more sensitive the data, the more is paid in general securing it. this etf will do really well when tech is booming. tech should return soon, so cybersec sgould return soon. rsi is about to meet signal for the first time in more than a week. anchored vwap is flattening above price. qqe is long.
the upside in short term vix futures remains muted as limitations on how far out broader market shorts in the money puts are due to backwardation in front month contracts. this is leading to derivatives like UVXY to probably continue to sell off of overbought.
we could find ourselves back in the low 14s UVXY if we see 22 vix again which should be soon. if we go...
potential downside is increasing as we bounce every time we set a 15 minute lower high. the qqe signals strategy is long, but rsi is continuing weak and will probably get to oversold. if we dont find ourselves over 44000 soon we could see 43700 sooner. selling 43888 might work, selling 43850 might be a level to watch, and selling a break of 43800 is a possible...
i wouldnt want to be holding this thing long right now. were at 84 rsi hourly and a pullback from these levels seems like its in the works.
mid to high 15s is the target. even if we gap up and blast to the upside, i dont think were really in hot water unless spx breaks to new lows, and it doesnt seem like thats going to happen.