UPDATE May 10
That was NOT capitulation, it was a selloff, but not capitulation. Winners started getting sold (Energy in particular) which is a sign that capitulation is coming.
I like this green morning, I am weary that the market could rally, but I want to short this rally.
$Invesco QQQ Trust(QQQ.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares UltraShort QQQ(QID.US$
I like this green morning, I am weary that the market could rally, but I want to short this rally.
$Invesco QQQ Trust(QQQ.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares UltraShort QQQ(QID.US$
Oil - $Crude Oil Futures(SEP4)(CLmain.US$ $VanEck Oil Services ETF(OIH.US$ $Whiting Petroleum(WLL.US$ $Baker Hughes(BKR.US$ $Schlumberger(SLB.US$ $Halliburton(HAL.US$ $NOV Inc(NOV.US$
Oil fell below the 50 and 20 Moving Averages, those now become resistance.
This is interesting because I can see a run up to 105/6 then a selloff down to 91 again. These indicators have been getting too hot. The thing that is interesting is that Gas and Diesel prices are going up, because they dont have enough to produce gas/diesel. So the price of oil dropping does nothing for politicians (because it doesn't help inflation) except make them blame the oil companies more.
Oil fell below the 50 and 20 Moving Averages, those now become resistance.
This is interesting because I can see a run up to 105/6 then a selloff down to 91 again. These indicators have been getting too hot. The thing that is interesting is that Gas and Diesel prices are going up, because they dont have enough to produce gas/diesel. So the price of oil dropping does nothing for politicians (because it doesn't help inflation) except make them blame the oil companies more.
Here is the bullish divergence on the MACD and RSI is oversold, good time to think about taking some profits or playing a bump, but get out, because I feel near future downside.
Shown is how I came up with 105/106, that is where the MAs are. (and they are resistance now)
$Occidental Petroleum(OXY.US$ The 20MA and 50MA have come together, I don't like the separation of the 50MA and 100MA so I could see a breakdown maybe to 44-48 ![]()
that seems crazy but capitulation gets crazy. That would be my buy zone, if it does not do a crazy drop 52-54 would be the bottom of the consolidation range.
Silver - $Micro Silver Futures(SEP4)(SILmain.US$ $iShares Silver Trust(SLV.US$ $Sprott Physical Silver Trust(PSLV.US$ Yes it is manipulated, yes you are fighting the evil bankers (JPM mostly), yes it keeps getting further from gold in ratio.
No IAM not worried, why? - *Hold on here, my true projection is coming*
- The currency market is collapsing (yes the world will have a massive crash where no one knows what a paper fiat currency is worth because the swings will be so wild, country to country exchanges will be wiped out *currently happening*) The US has outsourced our inflation since 1973 now the chickens have come home to roost, the world must pay our 30 trillion in debt *because we outsourced/sold it to them for 50 years. No country is solvent, we are a world run on credit and debt and eventually someone comes to collect *usually with an army.
On that happy note:
I have been thinking this downtrend would reverse for days but it keeps dragging down. No worries, this is what I saved my entire life for, this era will bring gold and silver back to the forefront.
No IAM not worried, why? - *Hold on here, my true projection is coming*
- The currency market is collapsing (yes the world will have a massive crash where no one knows what a paper fiat currency is worth because the swings will be so wild, country to country exchanges will be wiped out *currently happening*) The US has outsourced our inflation since 1973 now the chickens have come home to roost, the world must pay our 30 trillion in debt *because we outsourced/sold it to them for 50 years. No country is solvent, we are a world run on credit and debt and eventually someone comes to collect *usually with an army.
On that happy note:
I have been thinking this downtrend would reverse for days but it keeps dragging down. No worries, this is what I saved my entire life for, this era will bring gold and silver back to the forefront.
Starting to look bullish, but it has done this before.
Double bottom? We may get a relief rally today but I still want to see 1830.
VIX - $VIX Index Futures(AUG4)(VXmain.US$ $CBOE Volatility S&P 500 Index(.VIX.US$ $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US$
Long trendline, these cause the price to fight to break from, that's why i expect a drop of VIX to 30 and break below that trend before a stronger bull run, let's hit 40+ and get the capitulation.
Long trendline, these cause the price to fight to break from, that's why i expect a drop of VIX to 30 and break below that trend before a stronger bull run, let's hit 40+ and get the capitulation.
I'm liking my 30 prediction.
Theres that 30 right at the Moving Averages.
Nasdaq - $E-mini NASDAQ 100 Futures(SEP4)(NQmain.US$ I think we get relief, mostly because I think we get a 1000+ point drop down to 11600
The 2 hour looking more bullish.
The 1 hour, bullish with a little flat top on the MACD do we selloff at open? we could, but I think we get relief, but what leads it?
I will try to update, but not sure, really busy, looking after lots of money and jobs so I have to keep my head in the game ![]()
(this is no longer a government job, where jobs didn't depend on me)
Be weary of spikes, I have a feeling this may suck shorters in to rally higher on better![]()
CPI data tomorrow. (if you buy short options give yourself some time to ride out a rally - longer than 34 days). IAM looking to buy SQQQs and VIX on this rally. The VIX IAM looking at 70 strike for june 15, and SQQQ 50,55,60 for june 17 I will pick one when I see where this rally goes.
As always Good Luck![]()
Be weary of spikes, I have a feeling this may suck shorters in to rally higher on better
As always Good Luck
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bwjx : Thanks for sharing. So based on your projection the bear mkt for qqq will drag beyond June?
iamiam OP bwjx : NO, Nasdaq is in a bear market until it breaks it, it will stay a bear market all year.
The only thing that will help it is the big tech recovery (Microsoft apple nvidia google) but they will still not reach ATHs *maybe nvidia
the rest of tech is dead think insolvency this is the final tech bubble, they just havent told you yet.
lucif32 iamiam OP : Do you mean we are in bear market now instead of a correction?
iamiam OP lucif32 : yes
iamiam OP : down the mountain good luck![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
lucif32 iamiam OP : Are we doing a relief rally today? Pre market looks good or we gonna sell on open?
user77248281 : thanks for giving sqqq option ideas, preferably a normal put call since i don't have a margin account to do strategies like spreads
iamiam OP lucif32 : relief rally could turn into a big one with good CPI data tomorrow
iamiam OP : today my orders filled for VIX, SQQQ, and SLV
BruceLin8 iamiam OP : So you think it will go down?
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