This week is big. lots of data, some huge earnings, and Papa Powell speaks tomorrow. Today, we get jobs data a half hour after open. After close, we get Google, Microsoft, and AMD reporting. Tomorrow, we get the FEDs rate decision and Powells press conference. Friday, we get the big employment data. I still think we have upside. I think a drop is coming (~10%). But I'm keeping the possibility of the market squeezing until March/April. If Powell remains dovish and opens the possibility of cuts in March, the market could continue to rally. However goods prices are rising. Therefore, I expect Powell to "remain data dependent and vigilant," delivering a big poo poo 💩 to the markets. Until then I'm expecting to push up.
Sean wvwv : Hi!Have bond yields reached the bottom yet? Thx!
iamiam OP Sean wvwv : I don't think so, close. maybe we get to 3.51
Sean wvwv iamiam OP : wow, thx
daydayup : It’s been a long time since last updated. I’d like to know what you think about ES and NQ now?
iamiam OP daydayup : topping. I still think 432-435. we could've peaked. I don't think so. but if we did, we would not break 430. I think we top today or early tomorrow, and then I believe a pullback of about 10%
humorous Squirrel_48 iamiam OP : Is the 10% pullback a QQQ? What about spies?
iamiam OP humorous Squirrel_48 : the same l, 10% as a generality
daydayup iamiam OP : Thanks!!! but after today, do you still believe that we will reach 432?
iamiam OP daydayup : yes, i especially think that now. today looks like a falling wedge. remember we are peaking and ending a wave. those never go smoothly. the wave preparing for a top sucks in all the money it can both ways before making a quick move and failure.
iamiam OP daydayup : I -THINK- we run the next 2 days and fail Friday??? there are new job numbers on Thursday, and CPI is Friday.