UPDATE April 15
A quick post. I was working on a longer one but i threw my back out and so i covered myself in icy hot and fell asleep 🤣
I wanted to get a post out because we are at a pivitol area in the markets. I still expect a larger drop coming, I would watch for Israel to hit nuclear facilities in Iran, which would lead to more selling as it would show an escalation and a nuclear element. Powell speaks on Tuesday. Powell has been dovish because he has to. he must talk down inflation because it's the only tool they have. But reality eventually wins. I expect some kind of rebound. how strong of a move depends on if we can recover the 5 MA. if we can get and hold above 18300, I would expect more upside.
the dow looks ready to turn around, with Goldman reporting a big beat, the dow looks ready to run.
Finished a 9 count down, is oversold on the RSI, and is bouncing off the 100 MA (reddish brown line) all bullish signals. Resistance is the 5 MA at ~38660
this looks similar to pr3vious days when we ran up premarket and sold off following. Powell speaks tomorrow, so a muted market day wouldn't surprise me. The dow is the strongest. But the QQQ's have been making higher highs and lower lows, ~446 would be the resistance line. More downside would not surprise me. 436 is support below that 432, but I would look more for 434/435 to hold. Overall, I think we have a little more upside before much more downside.
on Friday I bought
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it needs to hold above the mid bollinger at 900 to keep the bullish scenario and shouldn't go below 876 (5 MA). 1012 is my target.
on a longer play, energy is shifting. Natgas is clogging the pipeline system, and oil can't get passed through. This is creating natgas prices to drop and should do one good crattering as someone has to store all the excess gas. that storage takes away from other storage and that's how you get negative natgas, someone is taking a loss to store that gas so they require a payment to store it rather than paying for the gas to store. This is leading to a shift in energy use to COAL! I like coal as an energy shift. It's time to get dirty.
here is my coal list
premarket I bought
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here are some random coal charts
Monthly chart, just turning up
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
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74582856 : At the end of this week, the overall Dow Industrial Index will plummet, mark my word! This week was a major turning point in the intensity of the geopolitical situation! Please note: the Western Front and the situation in the Middle East! Some things, as long as they are turned on, can't be stopped. If you stop, people will die, and they will continue even if you get stiff. These are all historical laws.
104640991 : Wow the amount of information in this chart is amazing. thanks
rawrrrbucks : @iamiam hello buddy! Thanks again for your insight. I enjoy these posts very much even though I’ve cut back on the individual stocks and just trade the indexes. (And a bit of futures options)
I’m just looking at SPY, QQQ and we’re sitting on the 50MA- on the 1D chart. traditionally the strong support. What do you reckon? If we crack this it’s a long way down to 150MA. Not saying that we’ll drop that far, but it’s a long way down- might take a while. What’s your feel?
iamiam OP rawrrrbucks : yes, it would be a long drop, and I expect one. I'm just not sure it's now.
rawrrrbucks iamiam OP : Well yeah. Usually it’ll take a few tests of the 50MA before we get through so I’m hoping sideways for a while. The more we go sideways the better- I can get some hedges on.
rawrrrbucks : The other seasonally weak month is a July. Maybe we’ll get a huge dip then.
CoolM : @iamiam r u still holding your NVDL long?
iamiam OP CoolM : no, just one small portion, I sold in the morning.
CoolM iamiam OP : U expect NVDA to correct downwards further so u sold? Also, wondering if your target for NVDA is still $1012?
iamiam OP CoolM : it is, but my timeline may have changed
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