THE WEEK AHEAD Ending May 27
This week was interesting, it worked out how I thought just not how I thought ![]()
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I guess that's what you get on an OPEX week.
I thought we would get a longer run and a steeper drop off. My plan went awry when that big Sell went through Wednesday. (You can see the big Sell volume came right after close - when you see that it means that a huge sell order came through but was filled with what they could throughout the day because IF they would've let the order hit the market it would've "crashed" it, this very well may have been Melvin or similar closing out) - Now there was similar sell volume on friday.
Q: So why did they let that through?
A: Because they knew the buys were coming in to facilitate a bottom and recovery (The MMs literally see EVERY order placed, why it confuses people how they know everything baffles me)
I thought we would get a longer run and a steeper drop off. My plan went awry when that big Sell went through Wednesday. (You can see the big Sell volume came right after close - when you see that it means that a huge sell order came through but was filled with what they could throughout the day because IF they would've let the order hit the market it would've "crashed" it, this very well may have been Melvin or similar closing out) - Now there was similar sell volume on friday.
Q: So why did they let that through?
A: Because they knew the buys were coming in to facilitate a bottom and recovery (The MMs literally see EVERY order placed, why it confuses people how they know everything baffles me)
Now that we see what happened let's try to predict what's coming up.
Nasdaq: $E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ Weekly outlook Weekly charts
We are still in a bear market 🐻, there will be an oversold rally at some point - a good one QQQ to 310 maybe 320 $Apple (AAPL.US)$ to 150/160 driving it. I expect Nasdaq to go down before the oversold rally - but that's just my speculation.
Nasdaq: $E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ Weekly outlook Weekly charts
We are still in a bear market 🐻, there will be an oversold rally at some point - a good one QQQ to 310 maybe 320 $Apple (AAPL.US)$ to 150/160 driving it. I expect Nasdaq to go down before the oversold rally - but that's just my speculation.
VIX: $VIX Index Futures(SEP4) (VXmain.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ Weekly chart
This is what a forming wedge looks like. Those indicators offer nothing, meaning VIX will bounce Down then Up - forming the wedge before a catalyst.
This is what a forming wedge looks like. Those indicators offer nothing, meaning VIX will bounce Down then Up - forming the wedge before a catalyst.
Gold: $E-micro Gold Futures(DEC4) (MGCmain.US)$ $SPDR Gold ETF (GLD.US)$ Weekly chart
Gold is a tough on right now, I am always bullish on gold - but I expect another selloff at some point, with a massive epic rally.
Gold is a tough on right now, I am always bullish on gold - but I expect another selloff at some point, with a massive epic rally.
Oil: $Crude Oil Futures(SEP4) (CLmain.US)$ Weekly charts
The wedge formed and we have "broke" out - this breakout is weak, is it building? or ready for a decline? I believe its building.
The wedge formed and we have "broke" out - this breakout is weak, is it building? or ready for a decline? I believe its building.
I had a much longer in detailed outlook but scratched it at the last minute.
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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Jason Jason8 : Will this week's UVXY be a great week
iamiam OP : I dont think so, my guess is it swings. so if you can play the swings it could be good I guess.
书生入世 : I think crude oil has overdrawn its gains, and I'm looking forward to the last wave of its jump