What Happens Next?
I have been expecting this pull back after the growth last week. The market has almost entirely pulled back to ITs support lines in almost all the stock I regularly watch, With the exception of China ADR's that have been Growing Massivly lately. I took a Bunch of screenshots of stocks, Indicies, and the VIX to get a general Idea of where we are now so we can understand where we might go.
$S&P 500 Index (.SPX.US)$ $Invesco QQQ Trust (QQQ.US)$ is a good indicator of the overall market... It is Currently at a pivitol support Line and (My Bias) gut says it will fall below it tomorrow.
The $CBOE Volatility S&P 500 Index (.VIX.US)$ is an Indicator of investor Fear and has pulled back considerably far from its most recent hight in October. In My Opinion the fact that this has pulled back and investors fear is decreasing is a great indicator that things are about to turn Negative.
Stocks that are all at their support Lines and I am watching to see if they bounce up and off or if they bounce and fail
Notice that their short interest is still relatively high even though they are down at their support levels...
Again all those are at a support and i am waiting to see what happens tomorrow between 9:30am to 10:00am before i act.
WHAT is your Opinion?
China ADR's have been VERY bullsih and i think there i a possibility rthey may continue.
Lately I have been turning more and more bearish as it seems the general investor sentiment gets gradually better...
I THink we have another leg down before we actually start are way up But it all depends on what happens in the next couple weeks. On Friday the PPI is released Tuesday the CPI is released and Wednesday Jerome Powell makes a speech and raises the interest rates again (Likely 50 baisis points) THese will definetly move markets drastically. I think that jerome powell may pencil in a longer time frame and more rate hikes (although at smaller intervals) THe stronger the economy stays the more Jerome Powell feels he has to do to keep Inflation under control.
What is your opinion on what is going to happen? On what is going on? Anything we should take into account?
ALL OF THIS IS JUST MY OPINIONS! PLEASE DO YOUR OWN DUE DILLIGENCE! I AM STILL LEARNING MYSELF
I wish you all the BEST!!
--BIZ--
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I love the market and everything about it. HARD WORK AND DISCIPLINE!
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Jesus is lord : thanks biz
The BIZ OP : My pleasure @jesusislord
intuitive Jackal_354 : I agree some what. I feel well get a good ppi number that will give Powell the reason to pivot, yes longer term but still a pivot. there is actually nothing that can be more negative on the market than what we're experiencing now. I expect good numbers that will give us a bounce back up before it vould return to a down turn. I expect our bounce back to give 9.5 points higher on the vix . I'm watching spy to evaluate when any such down turn may happen but qqq is still close enough to 400 that we may see a new case for the bulls
MonkeyGee : that is because people are dumping US stocks and buying China.
The BIZ OP : I just bought some VIX calls for the first time ever. I think you are right about a bounce on the VIX at least in the way to Tuesday and Wednesday