UPDATE II
Wow, another great day!
$E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$
Still showing that inverse head and shoulders. RSI is oversold. But the main trends MACD, DMA are still BEARISH. NQ did also create a double bottom for a bullish move
$E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$
Still showing that inverse head and shoulders. RSI is oversold. But the main trends MACD, DMA are still BEARISH. NQ did also create a double bottom for a bullish move
![UPDATE II](https://ussnsimg.moomoo.com/1649818041766-random135-70624085-android-org.jpg/bigmoo)
candle chart to show NQ still below all the MAs, and touching the bottom of the bollinger bands, meaning more upside than down on this timeline.
![UPDATE II](https://ussnsimg.moomoo.com/1649818041781-random1329-70624085-android-org.jpg/bigmoo)
2 hr chart is bullish on every indicator.
![UPDATE II](https://ussnsimg.moomoo.com/1649818041798-random1358-70624085-android-org.jpg/bigmoo)
$CBOE Volatility S&P 500 Index (.VIX.US)$ $VIX Index Futures(SEP4) (VXmain.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$
Daily chart, highlighted is everything bullish, a very bullish chart.
Daily chart, highlighted is everything bullish, a very bullish chart.
![UPDATE II](https://ussnsimg.moomoo.com/1649819172828-random1786-70624085-android-org.jpg/bigmoo)
2 hr, another bullish chart, VIX gapped up for some reason into the top of the bollinger bands (yellow line above where it says GAP). This and the VIX is overbought.
![UPDATE II](https://ussnsimg.moomoo.com/1649819172845-random2710-70624085-android-org.jpg/bigmoo)
$VanEck Oil Services ETF (OIH.US)$ $Crude Oil Futures(OCT4) (CLmain.US)$
Oil touching 30 on RSI is about as oversold as oil gets. MACD, DMA are bearish.
Now 👀 at the triangle made by the 2 differing (one bearish one bullish) trend lines. If you follow me you know I love triangles because when 2 different trends collide one has to win (nearly all the time, but sometimes the trend does emerge flat). And what did oil do? it just perched on that trend like a bird on a wire ready to take flight.
Oil touching 30 on RSI is about as oversold as oil gets. MACD, DMA are bearish.
Now 👀 at the triangle made by the 2 differing (one bearish one bullish) trend lines. If you follow me you know I love triangles because when 2 different trends collide one has to win (nearly all the time, but sometimes the trend does emerge flat). And what did oil do? it just perched on that trend like a bird on a wire ready to take flight.
![UPDATE II](https://ussnsimg.moomoo.com/1649819986042-random1922-70624085-android-org.jpg/bigmoo)
$SPDR Gold ETF (GLD.US)$
Wait, did someone just mention something about triangles?
Eventhough there were no signals on the DMA or MACD at the time. Up over 20% in 2 days, in leveraged gold.
Wait, did someone just mention something about triangles?
![UPDATE II](https://ussnsimg.moomoo.com/1649820257051-random5450-70624085-android-org.jpg/bigmoo)
$iShares Silver Trust (SLV.US)$ holds only silver derivatives (paper silver and currently about 40X the amount of actual silver available- meaning if they got caught short they could never ever ever fill the orders)
$Sprott Physical Silver Trust (PSLV.US)$ holds mostly physical silver to back your shares.
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Just seriously I'm up over 50% on my calls purchased Friday. So with no indicators Why did I buy Friday?-Triangle
$Sprott Physical Silver Trust (PSLV.US)$ holds mostly physical silver to back your shares.
![UPDATE II](https://ussnsimg.moomoo.com/1649821076142-random3202-70624085-android-org.jpg/bigmoo)
$Cleveland-Cliffs (CLF.US)$ A steel manufacturer, recycler, iron ore producer, and shipper. Currently in a downtrend, but 👀 closely the next 2 trading days should make for an interesting set up.
![UPDATE II](https://ussnsimg.moomoo.com/1649823168362-random4113-70624085-android-org.jpg/bigmoo)
$The Mosaic (MOS.US)$ $Intrepid Potash (IPI.US)$ Ugh FERTILIZER ![]()
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If I changed the name and put a poppy buzz word like cloud, ev, esg or tech after it and showed you these charts, how many would be climbing over each other to BTFD!!! but no, it's only the essential food growing product, but you dont need that, you can eat your cloud
The world is changing if it isn't a neccessary physical object you dont need it, if you can cut it out of your budget or cut back on your spending on it, why would you own any part of its stock? inflation is real and not transitory in the slightest, the market is rotating I've been trying to warn you. Food, Energy, Steel (look around you it's in everything) Oil (literally in the clothes you wear, plastics it is the base building block for nearly all manufactured products and the energy to produce them *and it's all natural- broken down sea algae and zooplankton, believe it or not its organic! buzzword!)
If I changed the name and put a poppy buzz word like cloud, ev, esg or tech after it and showed you these charts, how many would be climbing over each other to BTFD!!! but no, it's only the essential food growing product, but you dont need that, you can eat your cloud
![UPDATE II](https://ussnsimg.moomoo.com/1649824495362-random3067-70624085-android-org.jpg/bigmoo)
![UPDATE II](https://ussnsimg.moomoo.com/1649824495382-random8742-70624085-android-org.jpg/bigmoo)
$VanEck Gold Miners Equity ETF (GDX.US)$ Gold miners, setting new all time highs, again it's a rotation, miners are making more money than they ever have, they are profitable and generally pay dividends
![UPDATE II](https://ussnsimg.moomoo.com/1649827239928-random5399-70624085-android-org.jpg/bigmoo)
I'll put these up now and periodically update. I expect NQ to go up until open (I hope, that would be awesome), that way it will leave NQ in overbought range and can be sold down again.
Opposite for VIX I expect (and hope) we sell down to oversold before market open pushing the markets higher.
I expect oil to start to breakout again if not fully breakout. ditto for gold/silver (minor pullbacks even testing the breakout line are fine)
Steel and other sectors are being rotated into as they complete their cycle wave 2 (down) and have started wave 3 (longest strongest bull wave). *Something to know about large investment firms doing the rotating, they dont need to be early, and they dont need out at the peak, they are getting out of tech (at just off ATHs) and rotating into commodities starting their big wave up. it's an inflation trade rotation, and when they are out of tech NQ will fall hard. it's happening now because they had to wait and make sure inflation wasnt transitory (they are not like us they dont guess, and they really dont speculate they play it safe and wait until they have all the information. now they know (or believe) the FED is serious about inflation, no more funtime at the playhouse. (They actually started rotating in nov when Powell became hawkish, but it takes a long time to move that many assets)
there I got it all out. Now I have shared what is happening and why, I will be less active in the future, recently retired and starting a new job (got to get my stock playing money
+ building retirement accounts is kinda my thing) and if you want to hear conviction I pulled my entire pension and bought gold.
Opposite for VIX I expect (and hope) we sell down to oversold before market open pushing the markets higher.
I expect oil to start to breakout again if not fully breakout. ditto for gold/silver (minor pullbacks even testing the breakout line are fine)
Steel and other sectors are being rotated into as they complete their cycle wave 2 (down) and have started wave 3 (longest strongest bull wave). *Something to know about large investment firms doing the rotating, they dont need to be early, and they dont need out at the peak, they are getting out of tech (at just off ATHs) and rotating into commodities starting their big wave up. it's an inflation trade rotation, and when they are out of tech NQ will fall hard. it's happening now because they had to wait and make sure inflation wasnt transitory (they are not like us they dont guess, and they really dont speculate they play it safe and wait until they have all the information. now they know (or believe) the FED is serious about inflation, no more funtime at the playhouse. (They actually started rotating in nov when Powell became hawkish, but it takes a long time to move that many assets)
there I got it all out. Now I have shared what is happening and why, I will be less active in the future, recently retired and starting a new job (got to get my stock playing money
![UPDATE II](https://ussnsimg.moomoo.com/1649827239943-random9373-70624085-android-org.jpg/bigmoo)
if you would like to see a chart, or have any questions let me know, but please dont throw out random tickers if you ask please try and keep it in my area of commodities, or even a QQQ major component.
as always good luck![]()
as always good luck
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Markio1315 : Thanks very much for your sharing. From my understanding you are saying that Nasdaq would be going for a short rally before it come crushing down? I also saw indicators of tech names and index being oversold.
iamiam OP Markio1315 : I think it will rally until market open, then sell down, but it may go up not sure how strong it will be, I'm of the belief that the market still needs a big leg down.
Thelord iamiam OP : A bit off topic, but would like to ask is TLT supposed to move in the opposite direction of NQ? I find it weird that both are moving downwards together in the recent correction
lucif32 iamiam OP : Do you think short term relief rally will end today follow by another leg down? Cause NQ chart is showing and inverse head & shoulder pattern if it holds it seems bullish for a reversal no? Appreciate your insights
iamiam OP lucif32 : yes that was my warning at the start, it could go higher we will see. I expect by market open it could be oversold and ready for a fall, Much like yesterday.
lucif32 iamiam OP : So meaning you will short the rip? Interesting.
From your post it seems that we are going for our Lower Low especially you pointed that vix is very bullish. Is that correct?
iamiam OP lucif32 : yes but I said I expect vix to be down until open, I havent looked but I hope it still is.
lucif32 iamiam OP : So wait for retracement at market open to enter short then ? Looking at aapl and Nvidia to short
iamiam OP Thelord : it usually does, investors will swing with bonds or hedge and that is my guess happened. they were selling their hedged bets on NQ... That may sound confusing and I may not be explaining well, but if I own QQQ and I want to hedge so I buy TLT because of their inverse relationship, NQ goes down TLT goes up and their account stays the same. The profit they make is over time with market increase and the sale of options. So for both to go down, what makes sense to me, is that they were selling off their hedges, TLT is no longer a safe haven 3% is losing money to inflation.
iamiam OP : NQ moving up, I hope it continues. VIX moving down with a gap down to fill (I also hope this continues. OIL look at oil move right down that trendline. All these moves allow the indicators to "cool down" (come off overbought/oversold) moving as hoped.
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