With $NASDAQ 100 Index (.NDX.US)$ & $S&P 500 Index (.SPX.US)...
With $NASDAQ 100 Index(.NDX.US$ & $S&P 500 Index(.SPX.US$ overbought now on daily chart, this week will probably give us a decent pullback before moving up again or we could just see an overall change of trend like what happened during late march - early april when markets went overbought on daily charts.
We are staying nimble as usual. Every signal was right up until friday!
We are staying nimble as usual. Every signal was right up until friday!
When markets are overbought with smaller timeframes on multiple negative divergences, its time to stay nimble and defensive. Not overly bullish. There are also signs of $Crude Oil Futures(JUL4)(CLmain.US$ , $VIX Index Futures(JUN4)(VXmain.US$ $CBOE Volatility S&P 500 Index(.VIX.US$ , $U.S. 10-Year Treasury Notes Yield(US10Y.BD$ , $USD(USDindex.FX$ all looking to do a reversal / relief rally on the weekly charts! If those 4 tickers do a rally, the index will most definitely PLUNGE!
As always trade safe and invest wise!
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$SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$ $E-mini S&P 500 Futures(JUN4)(ESmain.US$ $E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$ $Tesla(TSLA.US$ $Microsoft(MSFT.US$ $Apple(AAPL.US$ $Meta Platforms(META.US$ $NVIDIA(NVDA.US$ $Advanced Micro Devices(AMD.US$ $Alibaba(BABA.US$
Subscribe to my YouTube channel for your weekly market outlook and technical analysis videos!www.youtube.com/c/investing101channel
$SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$ $E-mini S&P 500 Futures(JUN4)(ESmain.US$ $E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$ $Tesla(TSLA.US$ $Microsoft(MSFT.US$ $Apple(AAPL.US$ $Meta Platforms(META.US$ $NVIDIA(NVDA.US$ $Advanced Micro Devices(AMD.US$ $Alibaba(BABA.US$
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Giovanni Ayala :
Imranm20 : thanks for the update. should we expect your weekly video this week?
SpidieSence : That was nice
Silverbat : Markets are overbought and pull back to consilidate is not unusual. Thanks
Investing 101OP : sorry guys no video this week. wasn't feeling well on the weekends
SpyderCall : good post
with a macroeconomic environment like this, and the fact that yields gapped up over the weekend specifically the two-year yields, the open in the Futures Market is starting off on a bad foot. that could change in a heartbeat of course. if the two year yields break out to new highs then I think it'll bring the market down almost surely because this curve inversion is getting massive.
always be ready for the potential turnaround. if the two-year yields break out, or if oil starts spiking up and climbing towards $130 again, or if the US dollar breaks out to new highs, these are all things to look out for. all these things can happen at the same time as well and perpetuate each other's momentum further and bring the market down. I'm not jumping in on the short positions yet because this rally still seems to have its momentum but I am definitely watching like a hawk for a potential reversal . because a reversal is always an absolute possibility especially in the environment we are in now. the fed's meeting minutes could possibly be the catalyst for a reversal or a further breakout to the upside. I think all investors eyes will be watching the release of the feds meeting minutes
dwarrior Investing 101OP: Congrats. Thank you so much for the sharing
bwjx Investing 101OP: Take care and get well soon.
Investing 101OP dwarrior: thanks
Investing 101OP bwjx: thanks
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