Well the QQQ blew past 301 in line with the futures running over 12500. But what do the charts say now? $E-mini NASDAQ 100 Futures(MAR5) (NQmain.US)$That separation of the candle from the trendlines is an almost guaranteed bearish sign, but how long can the bear be delayed is the question.
$Invesco QQQ Trust (QQQ.US)$320 as my top. I started shorting today, ~303.3 is a good fib wave extension, but the charts say this can go up a little more, especially if it cools off as it goes. 311 then 314 then 320 are the levels I'm watching for reversals
$Crude Oil Futures(MAR5) (CLmain.US)$Bouncy Bouncy, steady climb up or a pop... Or a decline? anything is possible but I bet on up. 106 ish. 88 is the low, anything above that I'm bullish.
$Schlumberger (SLB.US)$Was thrown overboard this morning, the daily is still bullish going into earnings Friday premarket. I have a hard time believing that this is going to selloff going into earnings where they are going to have MONSTER earnings.
$Alibaba (BABA.US)$The 9MA (blue) caught the 150(cyan) next up is the 50MA (green). It can hang around this price range for a while, or Baba drop and recover.
$Microsoft (MSFT.US)$a component of QQQ, so let's see what it may do to get a better idea of QQQ. Triangle forming. 9MA caught the 50MA so a good time for a pullback.
icezzz
iamiam
OP
:
market so bullish these 2 weeks, start to doubt my decision. anyway I hold n wait. Patience is key. always looking fwd ur TA. Thanks
Ben 23
:
IMO the next major pullback or dip will be a good chance to close shorts and go long. I think a recession will come, probably after the SPY challenge its ATH in the coming months.
Butcher71 : Awesome charts as usual!
W Chiang : Yield dropping
icezzz : NQ still look bullish? Thought of sell some Sqqq but getting lower n lower
iamiam OP icezzz : why sell it, you will just want it back, we are so close to a top, it might even be as I type.
Thelord iamiam OP : I also suspect we are at a top, but was wondering what could be the catalyst for market to dump
icezzz iamiam OP : market so bullish these 2 weeks, start to doubt my decision. anyway I hold n wait. Patience is key.
always looking fwd ur TA. Thanks
Thelord icezzz : Are you net long or net short
icezzz : Sqqq buy at 53. Waiting go up n sell
Ben 23 : IMO the next major pullback or dip will be a good chance to close shorts and go long. I think a recession will come, probably after the SPY challenge its ATH in the coming months.
Thelord Ben 23 : Maybe it has already started to rocket. Yields and oil already dropping