UPDATE March 7
J Pow testifies before Congress a half hour after open. Nothing matters until then. We can go either way. It is my belief that we have topped. We could still build a bullish trend, but I don't believe that to be the case. I could always be wrong. I believe we are in the wave 3 down or an ending diagonal. Both of those go lower 288-285 range, possibly lower....
here is my take. What is J Pow going to tell Congress? he's doing great? he's on top of inflation? he's fulfilling his dual mandate of "full employment" & "price control (inflation)"? NO, he is failing on both. And I'm sure Congress is going to want reasons for his failure, an idea of his plan and scape goats (anyone but themselves). I doubt he uses the word "disinflation" again, unless he walks it back. The "disinflation" comment will be his "transitory" moment. Both stupid statements, both lies, I doubt he keeps repeating them in testimony, unless taking it back.
Above mid bolinger, this could turn up. But I believe it sells down near the 12000 range.
$Invesco QQQ Trust(QQQ.US$ Could spike and challenge the trendline again.
$Alibaba(BABA.US$ I still think baba is in a reversal
$Snap Inc(SNAP.US$ I clearly sold too early🤣 sitting on trendline and could go either way.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
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dwarrior : Great
…we are going down. I have loaded some SQQQ
Ninjago7211 : awesome sold QQQ yesterday @24 will be watching closely today. ty for the info
icezzz : Is appl look bearish too?
iamiamOP icezzz: I believe so
Andre88888888 : Ride the wave!
股勇者 : strange that u think BABA on reversal ie uptrend when it failed to break 200ma resistance twice
but I do hope u r right... cheers
iamiamOP 股勇者: both times, it was oversold because it had to run up to it. now the 200 has come down to price, and it can now push through it without being oversold.
股勇者 iamiamOP: thanks... u r the expert, and thanks for sharing...
Violets : and I believe Congress will use this moment to showcase and get publicity to make the American people believe that they are doing everything they can to fight this inflation. inflation is not getting better. I don't see how we go up but we all know we may
iamiamOP 股勇者: but it could always just reject it again
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