UPDATE May 25
Crazy week continues. This market wants to rally- it wants to rally hard and fast. But everytime it rallies it gets sold off, no one wants to own stock here because they know it's going lower. *Any rally is temporary- we are still in a bear market- and will be until the FED reverses course (They will eventually, they already have 2 Trillion on hand for bailouts readying in the reverse repo market *bailouts go to the rich not you* something or something's are already failing but who???)
Until then we will get an oversold rally, a good one, but when? To me it seems like it's trying to rally and has been for a week, but will it gain traction? I still believe this week needs to hit a new low first- but that's just my speculation (I believe that because it would put the projected rally point at just under support/resistance, to fail at)
2 Hour Charts $E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ Forming a triangle, but which way do we break? I believe down, but triangles can break both ways.
2 Hour Charts $E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ Forming a triangle, but which way do we break? I believe down, but triangles can break both ways.
$Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ Triangle after open maybe 2-3 hrs after could/should see a break one way or the other.
VIX: $VIX Index Futures(SEP4) (VXmain.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$
Matching the NQ triangle, waiting to break
Matching the NQ triangle, waiting to break
1 Hr broke "out" still maintaining the larger triangle- do we continue to breakout?
Oil: $Crude Oil Futures(SEP4) (CLmain.US)$ $Schlumberger (SLB.US)$ $Halliburton (HAL.US)$ $NOV Inc (NOV.US)$ $Occidental Petroleum (OXY.US)$ $ConocoPhillips (COP.US)$ $Baker Hughes (BKR.US)$ Oil still consolidating- there are 2 ways to let indicators catch up, oil could've crashed (it didn't) or a long consolidation (HELLO!) oil is getting ready to run again.
Gold/Silver: $E-micro Gold Futures(DEC4) (MGCmain.US)$ $Micro Silver Futures(SEP4) (SILmain.US)$ $SPDR Gold ETF (GLD.US)$ $iShares Silver Trust (SLV.US)$ $Sprott Physical Silver Trust (PSLV.US)$ After a 5 day run, we need a cooldown- So we can run again!
Running late again, as always
Good Luck![]()
Good Luck
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Shuseido : Your post always an eye opener for me!
Fed bail out money! Something new to me!
Thanks as always.
Jason Jason8 : In the past two days, the uvxy has been hovering around $16. Will there be a breakthrough?
iamiam OP Jason Jason8 : maybe, or a breakdown if the market gets another mid day rally
iamiam OP Shuseido : this is "secret" bailout money- they can use it while still saying straight faced "we are engineering a soft landing" . So at the same time they will be selling their balance sheet and raising rates- they will be bailing out the market. A house of cards built around lies
Shuseido : are you saying the good rally is coming soon?
iamiam OP Shuseido : I dont think so, not until this sells off hard
Shuseido iamiam OP : Define sell off hard? Taking SPY and Apple as examples perhaps?
iamiam OP Shuseido : appl 125 min, QQQ 220ish
Shuseido iamiam OP : That's still quite a long way to go... Do you mind to have a look on TSLA and GOOGL? Thanks..
iamiam OP Shuseido : sure, but just to be clear I think the market will go a little lower before a good bounce taking AAPL for example to 150-160 & QQQ to 320ish- Then QQQ will fall to 220ish AAPL 125 minimum and THEN a big ole fake MONSTER rally back near all time highs, so that's a lot of movement and time I'm looking at... I'll look at google and Tesla
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