My spidy senses are tingling!
My crystal ball is telling me today is the day we might finally start to see the long awaited for pullback ![]()
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Trading is life! Trade on IBRK
Assets-Stocks, cryptos, gold and oil
Type-Scalper, day trader, swing trader and investor.
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Kopi is Life : Hi, care to share why so?
Your Average TraderOP Kopi is Life: Fundamentally unjustified rally considering the uncertainty around the economic situation + rally has been straight up for almost 2 week without an much correction + index hitting some key resistances + Crude spiking again closing in on significant lvl $110
Kopi is Life : Thanks. It’s long overdue
Milamber : Is this then not a good time to start with QQQ? Trying to get some position.
Your Average TraderOP Milamber: After almost 10 days of rally? lol I mean sure todays resilience may suggest it can go higher but now is probably the worst entry so yea very risky. If you really have lots of cash in hand and want to invest to not lose to inflation i would recommend betting on Warren Buffet or potentially the consumer staples sector instead rather than betting on risk assets. But then again im a market bear and I see potential recession so take my advice with a grain of salt.
Kopi is Life : Any thoughts for tonight? Will we see a pivot?
Your Average TraderOP Kopi is Life: The strength of $E-mini NASDAQ 100 Futures(JUN4) (NQmain.US)$ and how it resisted the drop below a significant level yesterday has my technicals indicating a rather muted to upside move again today. However my fundimental analysis still remains bearish. So if i had to pick one side my bias today will depend on 8:30 economic release i.e Jobless Claim, Personal Spending and PCE. If numbers come out and are really off expectations I will pick my direction then. Markets have already priced in high inflation and a strong jobs market but if personal spending falls significantly below expectation of 0.5 I expect to see big downwards move. However will also be paying attention to commodities, cryptos and bonds to see where cash is flowing, gota be careful if your a short considering how much cash is still floating around.
Kopi is Life : Thanks for the insights. The situation does seem to be pretty tricky with the multitude of external factors. Does look set to be a volatile night