UPDATE II
Up down again so what do the charts look like
$E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ With all the bullish moves we never broke resistance. No RSI indicator signals, but MACD has clearly rolled over. I am expecting it to test 14400 at some point in the near future, from there support will determine more upside or downside.
*update- today could very well be green and QQQ to test 360, with a VIX crush before afternoon/next week selloff (short week next week expect smart money to lift indices so they can setup bearish positions, next week should be a continued bearish setup mon/tue for wed/thur CPI data release)
** everything turning bearish at open, let's see if it holds up
$E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ With all the bullish moves we never broke resistance. No RSI indicator signals, but MACD has clearly rolled over. I am expecting it to test 14400 at some point in the near future, from there support will determine more upside or downside.
*update- today could very well be green and QQQ to test 360, with a VIX crush before afternoon/next week selloff (short week next week expect smart money to lift indices so they can setup bearish positions, next week should be a continued bearish setup mon/tue for wed/thur CPI data release)
** everything turning bearish at open, let's see if it holds up
VIX $VIX Index Futures(SEP4) (VXmain.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ MACD has rolled over from bearish to bullish, testing resistance on the way up. Notice the similarity between the other times RSI was oversold and rose up crossing the RSI2 and 3? (one highlighted in yellow) you can look at the others and get a picture of what I expect.
*edit- expect a VIX crush friday to oversold levels then rebound, VIX needs to build up more pressure for a massive bull run.
*edit- expect a VIX crush friday to oversold levels then rebound, VIX needs to build up more pressure for a massive bull run.
GOLD $E-micro Gold Futures(DEC4) (MGCmain.US)$ $SPDR Gold ETF (GLD.US)$
Bull flag created/still in tact, no RSI indicator signals, bullish divergences forming on RSI.
Bull flag created/still in tact, no RSI indicator signals, bullish divergences forming on RSI.
SLV $iShares Silver Trust (SLV.US)$ $Micro Silver Futures(SEP4) (SILmain.US)$ Not a lot on the daily.
4 hour is different. MACD is bullish and rising. And hopefully (I think we have but I'm often early) we have broken the wedge and retested it.
OIL $Micro Crude Oil Futures(SEP4) (MCLmain.US)$ $VanEck Oil Services ETF (OIH.US)$ $United States Oil Fund LP (USO.US)$ Holding onto that 10 year trend, looking for it to bounce. MACD shows no signal but I see the DIF starting to cross up, and I expect oil to go oversold at some point soon.
OIH- no RSI indicator signal, MACD looks bearish. Holding support, will either break up or down where it would test ~250.
* I bought but I am biased. and also often early![]()
* I bought but I am biased. and also often early
XOP $SPDR S&P Oil & Gas Exploration & Production ETF (XOP.US)$ MACD bearish, pennant formed, no RSI indicator signal.
XLE $Energy Select Sector SPDR Fund (XLE.US)$ No RSI signal, MACD is bearish with a building bullish divergence.
XME $SPDR S&P Metals & Mining ETF (XME.US)$ No RSI signal, DIF is starting to roll over, stair stepping up or bull flagging.
Just some notes. I read charts and move where they tell me, and that is not on a daily basis (up down in a day I dont care I'm not day trading, I follow trends)
I am still bearish the trend has not changed since November. (I have been short NQ since Dec, and long VIX since the end of march)
I do not YOLO, I hold massive positions outside my shorts (in commodities and biotech) and I use SQQQ as a hedge not a main position.
I hope that clears up any confusion, and as always - Good Luck![]()
I am still bearish the trend has not changed since November. (I have been short NQ since Dec, and long VIX since the end of march)
I do not YOLO, I hold massive positions outside my shorts (in commodities and biotech) and I use SQQQ as a hedge not a main position.
I hope that clears up any confusion, and as always - Good Luck
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iamiam OP : **everything is turning bearish at open
sayno :
sayno : wow.. how low will it fall?
iamiam OP sayno : it fighting support at 350, 144412
iamiam OP sayno : this is major 3 point support (we bounced off it the previous 2)
sayno : keeping my fingers crossed!
sayno : it's finally happening!
iamiam OP sayno : 14312 is next support
Kopi is Life : @iamiamis this the capitulation you mentioned?
iamiam OP Kopi is Life : no, you will know, I'm talking about 600-800 pt drop
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