UPDATE March 3
Another fun Friday?
I think we are on our way for a rebound. That doesn't mean we won't cool off.
shortest update ever. Can't type. apologies.
PMI comes out a half hour after open. it should move the market. I believe we are in the retrace up towards 299. This could take a few days or do it in one. as long as it is a 3 wave move. On the smaller wave, we just had an impulse (5 wave) up, so I expect a 3 wave (on 5 min chart) pullback before going??? again. Confused? on the 1 hr, it should be 3 waves up, up - down - up... on the 5 minute, the smaller waves or minute waves appear. Don't worry about this too much. Basically, this fist wave of 3 is nearing a top, then it will have a pullback before returning up.... OR this diagonal down is not complete, and it can sell down to 285.
So basically, I expect a pullback at some time coming up.
$Alibaba(BABA.US)$ I made an error here, I meant to convey that the 50MA is under the candles. Setting up on a MA is generally bullish.
we are running hot 🔥 and looks like we may be topping a few (CLF). Looks like the dollar is finding a base 9n the 50MA.
Be Safe, Be Careful, Be Wise
and as always Good Luck ![]()
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Revelation 6 : I know all about being on the rebound!
BruceLin8 : QQQ 299 first?
iamiam OP BruceLin8 : i think 297 before a pullback.
73172835 iamiam OP : nothing fun here if you missed the morning move it's another flat boring day
BruceLin8 iamiam OP : We got 297 today…. So next week…. We will turn down? I have some Meta call. Do you think if I should sell it today.
Violets : I would seriously like to see how much money the brokers are making off of burning puts. they've been burning puts for 3 months if not more. I'm so frustrated
iamiam OP BruceLin8 : I think it still has legs, this might have been wave A of ABC. so i expect a pullback/downturn and then another run up, maybe 304/5
iamiam OP BruceLin8 : it should end early next week. but be careful it's a bear market
iamiam OP Violets : why have you been buying puts during a bull run[Emoticon][Sob] your day is coming next week probably. let's get back to he upper boliner and get rejectd.
Violets iamiam OP : I have had calls as well I'm just talking about in general. I did not expect that pump yesterday and I also did not expect a member of the fair to Fed to say that there'd be a pivot in summer. it just seems like there's different messages all the time and maybe I'm trading too much on sentiment
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