So after the huge rally on friday, rally did show some weakn...
So after the huge rally on friday, rally did show some weakness. I am not expecting this rally to last long, we should go back down to retest lows or break a new low again.
I have explained all in my video attached below. Do watch it to understand why I feel so despite NDX and SPX has both hit my price objectives of a correction. But I do think we have a little lower to go or at least a double bottom.
Stocks tagged below also have their technical analysis done! So know your support and resistance so you dont buy high and sell low!
As always, trade safe & invest wise!
Subscribe to my YouTube channel for your weekly market outlook and technical analysis videos! www.youtube.com/c/investing101channel
$CBOE Volatility S&P 500 Index (.VIX.US)$ $VIX Index Futures(DEC4) (VXmain.US)$ $E-mini S&P 500 Futures(DEC4) (ESmain.US)$ $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ $S&P 500 Index (.SPX.US)$ $NASDAQ 100 Index (.NDX.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $Apple (AAPL.US)$ $Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $Advanced Micro Devices (AMD.US)$
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W Chiang : Too many uncertainties. Pulled majority shorts and longs out. Hold cash and wait clear signal
Investing 101 OP W Chiang : im positioned short for now.. took calls off..
102205660 Investing 101 OP : lower low first?
W Chiang : Tqqq
BruceLin8 : What does Vix down, and spy down mean?
LuckyPiggie BruceLin8 : means near bottom
W Chiang : ok i m balanced no gains nor loss..
BruceLin8 LuckyPiggie : Bottom for what?
generous Cheetah 383 BruceLin8 : Means more down when Vix spikes again
Casual Trader : a lot of margin calls which led to the big drop, after that is done, we should rally back to end the 7 straight week on week decline before we know if it will go back to test new lows. Prob 13k for qqq will be a better place to sell
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