UPDATE May 5

A quick post. The posts are quick because THERE IS NOTHING I WOULD OWN HERE. I don't want to hold anything longer than a day or two.

Well, yesterday was fun -

But now it's Cinco De Mayo! is it going to be Arriba 🤩 or Ay Caramba 😱?

Employment numbers come out an hour before open. This should decide direction for a while because FED member Bullard speaks 3.5 hours after open.

This is a short the rally, but the rally could be strong.

There are some things I would love to own long term, but the markets are so volatile I can take profits daily and re-enter.

oil is interesting coming off a big selloff. oil rig counts come out today as well as other important information about oil reserves and production.

a break below 20 would be a bullish sign for the markets

Should be another crazy day

Looking at 13150 as a breakout point, we would need to break above and set on or backtest (break above and come back to touch it). If the price can move above 13150, then 13250 to 13400 is the target. a failure (very likely, depending on non farm payroll) should send us to 13000. a break below 12925 is very bad (unless you're a bear 🐻) a target near 12800 if that should happen.

for QQQ, Support sits near 316.5, major support is at 313.2, should that fail then 310 is the next support. For upside, I'm looking at 320.8 then 322.47, if 322.47 is broken and tested, then we should try to push over 325.

Be Safe, Be Careful, Be Wise

and as always

Good Luck