UPDATE May 11
A little rally yesterday and this morning. Will it continue?
CPI data is out today an hour before open and I think we get a little more relief. I think CPI will be high but lower slightly (remember this is a manipulated number not based on reality) the market is looking at month over month (m/m) to go DOWN, if it does the market will rally. If m/m is increasing we will see a bloodbath maybe I'll get my 1000 point drop If it rallies it will be short lived (less than a few weeks) before the "market" realizes that inflation is not dropping (or only dropping where the FED has crushed the economy, showing the FEDs destructive policy intent) - sending the market lower again.
I made a note before I went to sleep, that gold hit 1835, Oil bounced off support at 99, VIX and NQ were both at resistance looks like NQ broke out and VIX down.
My silver buy yesterday looks great, my VIX will open red but that's ok I bought August expiry.
I'm going to do QQQ, Gold, Silver, oil, and close with VIX, and NQ.
$Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraShort QQQ (QID.US)$
Broke the 100MA and trendline, 150MA (cyan) is next, then the 200MA and a longer trendline at 220ish
I made a note before I went to sleep, that gold hit 1835, Oil bounced off support at 99, VIX and NQ were both at resistance looks like NQ broke out and VIX down.
My silver buy yesterday looks great, my VIX will open red but that's ok I bought August expiry.
I'm going to do QQQ, Gold, Silver, oil, and close with VIX, and NQ.
$Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraShort QQQ (QID.US)$
Broke the 100MA and trendline, 150MA (cyan) is next, then the 200MA and a longer trendline at 220ish
I don't know why I'm showing this, maybe to show how I came up with the top and when I hedged. Maybe to show how far we've gone, and all the support we broke. Notice how it holds up at every trendline.
History tells me we get a bounce near here, why not today? Do we get a little bump or another bigger one? If shorts cover we could get a good rally. I will short the top.
GOLD - $E-micro Gold Futures(DEC4) (MGCmain.US)$ $SPDR Gold ETF (GLD.US)$ Miners $VanEck Gold Miners Equity ETF (GDX.US)$
I LOVE GOLD!!! Its a big ol' smile!
This is another cup and handle (in a bigger cup and handle) these are bullish formations.
I stand even more by my monthly prediction that May is up and down and June is my breakout target, before coming back to retest at the end of summer and a fall explosion up (September) I dont know what's going to happen but the charts tell me September-ish (time is the hardest to predict, that's why shortists like Burry move when they see it) I love people who say "being early is just like being wrong" - really? care to show how, because my early got cheap SQQQ and VIX now they are too expensive for regular investors to play. 30 VIX and 50 SQQQ under a dollar but yeah early is bad The truth is believe in your investments, otherwise why are you investing? I digress onto GOLD, the Weekly - look at gold smile at you.
I LOVE GOLD!!! Its a big ol' smile!
This is another cup and handle (in a bigger cup and handle) these are bullish formations.
I stand even more by my monthly prediction that May is up and down and June is my breakout target, before coming back to retest at the end of summer and a fall explosion up (September) I dont know what's going to happen but the charts tell me September-ish (time is the hardest to predict, that's why shortists like Burry move when they see it) I love people who say "being early is just like being wrong" - really? care to show how, because my early got cheap SQQQ and VIX now they are too expensive for regular investors to play. 30 VIX and 50 SQQQ under a dollar but yeah early is bad The truth is believe in your investments, otherwise why are you investing? I digress onto GOLD, the Weekly - look at gold smile at you.
Hit 1835. during the night. Never when I could try to buy it this is intentional.
SILVER - $Micro Silver Futures(DEC4) (SILmain.US)$ $iShares Silver Trust (SLV.US)$ $Sprott Physical Silver Trust (PSLV.US)$
Did we bottom - I hope so, seeing SLV below 20 was laughable I actually was laughing at work like the joker as I bought a S* ton of calls. They thought I was bonkers I got several "are you ok" I responded with "Oh yeah, I'm very good"
Did we bottom - I hope so, seeing SLV below 20 was laughable I actually was laughing at work like the joker as I bought a S* ton of calls. They thought I was bonkers I got several "are you ok" I responded with "Oh yeah, I'm very good"
Daily: I don't know what to say.
Hi Ho Silver Away!!!
Hi Ho Silver Away!!!
OIL - $Crude Oil Futures(DEC4) (CLmain.US)$ $VanEck Oil Services ETF (OIH.US)$ $Occidental Petroleum (OXY.US)$ $Baker Hughes (BKR.US)$ $Schlumberger (SLB.US)$ $Halliburton (HAL.US)$ $Whiting Petroleum (WLL.US)$ $NOV Inc (NOV.US)$ $ConocoPhillips (COP.US)$
Weekly - we could breakdown, I could see it. The problem with an oil/gold (and to a lesser extent silver) breakdown is there are buyers waiting. This is very DIFFERENT from tech buyers. Commodity buyers buy to use (or hoard/resell for precious metals). When oil drops, purchasers flood the market with buy orders, that's why the flash crash to 91 was at night when no US purchaser could place an order, thats how it got that low.
Weekly - we could breakdown, I could see it. The problem with an oil/gold (and to a lesser extent silver) breakdown is there are buyers waiting. This is very DIFFERENT from tech buyers. Commodity buyers buy to use (or hoard/resell for precious metals). When oil drops, purchasers flood the market with buy orders, that's why the flash crash to 91 was at night when no US purchaser could place an order, thats how it got that low.
Wavy - wavy, another week of consolidation??? before a dramatic move.
NOW THE FUTURES
VIX - $VIX Index Futures(NOV4) (VXmain.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ A pullback, the market is pretty much gearing for a rally on a "good" CPI number.
Daily - Pullback to 28ish, then!!!
VIX - $VIX Index Futures(NOV4) (VXmain.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ A pullback, the market is pretty much gearing for a rally on a "good" CPI number.
Daily - Pullback to 28ish, then!!!
The 200MA and support line up on the 2 hour.
Small pullback on the hourly.
Maybe a small rebound to cool indicators.
Nasdaq - $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$
I think we get a bounce off of support and a mild CPI lie.
I think we get a bounce off of support and a mild CPI lie.
Bullish.
30 min, a little down relief coming before CPI.
Running late, I'm off down the mountain. Sorry no updates, driving.
Remember if CPI is bad m/m (doubtful since they cook the numbers) NQ/QQQ will go down.
Remember if CPI is bad m/m (doubtful since they cook the numbers) NQ/QQQ will go down.
As always good luck
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W Chiang : Cpi seems not so good
LuckyPiggie : man ... arent you busy running around happy working
iamiam OP : CPI higher hahahaha PAY ME!!!!
W Chiang :
101828445 : Could you share your options plays for SQQQ, VIX and UXVY?
102970152 : 0.3
102970152 : month over month +0.3%
LuckyPiggie : future going up and down ..
102539156 Dan : Cpi seems planned… not up nor down
Any advise? It seems to poise for rebound today
输赢发型不乱 101828445 : Triple shorting real estate returns, more and safer drv
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