UPDATE July 21
Well the QQQ blew past 301 in line with the futures running over 12500. But what do the charts say now?
$E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$ That separation of the candle from the trendlines is an almost guaranteed bearish sign, but how long can the bear be delayed is the question.
$E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$ That separation of the candle from the trendlines is an almost guaranteed bearish sign, but how long can the bear be delayed is the question.
$Invesco QQQ Trust(QQQ.US$ 320 as my top. I started shorting today, ~303.3 is a good fib wave extension, but the charts say this can go up a little more, especially if it cools off as it goes. 311 then 314 then 320 are the levels I'm watching for reversals
$Crude Oil Futures(JUN4)(CLmain.US$ Bouncy Bouncy, steady climb up or a pop... Or a decline? anything is possible but I bet on up. 106 ish. 88 is the low, anything above that I'm bullish.
$Schlumberger(SLB.US$ Was thrown overboard this morning, the daily is still bullish going into earnings Friday premarket. I have a hard time believing that this is going to selloff going into earnings where they are going to have MONSTER earnings.
$Cleveland-Cliffs(CLF.US$ Dropping dollar means steel goes up.
$Alibaba(BABA.US$ The 9MA (blue) caught the 150(cyan) next up is the 50MA (green). It can hang around this price range for a while, or Baba drop and recover.
this is mislabeled it should be 2 hr.
$USD(USDindex.FX$ Lower dollar is good for steel and multinationals
$Microsoft(MSFT.US$ a component of QQQ, so let's see what it may do to get a better idea of QQQ. Triangle forming. 9MA caught the 50MA so a good time for a pullback.
Futures
VIX looking bullish towards open.
a little bullish, let's see if it holds.
NASDAQ 1 hr Bollinger bands are "pinching" gearing up for a break, is it down or up?
looks like a bearish divergence is forming, will it hold near open or turn bullish?
Off to work, down the mountain,
As always good luck
As always good luck
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Butcher71 : Awesome charts as usual!
W Chiang : Yield dropping
icezzz : NQ still look bullish? Thought of sell some Sqqq but getting lower n lower
iamiamOP icezzz: why sell it, you will just want it back, we are so close to a top, it might even be as I type.
Thelord iamiamOP: I also suspect we are at a top, but was wondering what could be the catalyst for market to dump
icezzz iamiamOP: market so bullish these 2 weeks, start to doubt my decision. anyway I hold n wait. Patience is key.
always looking fwd ur TA. Thanks
Thelord icezzz: Are you net long or net short
icezzz : Sqqq buy at 53. Waiting go up n sell
bwjx : IMO the next major pullback or dip will be a good chance to close shorts and go long. I think a recession will come, probably after the SPY challenge its ATH in the coming months.
Thelord bwjx: Maybe it has already started to rocket. Yields and oil already dropping