Market Review+Core Position Analysis (15/04-19/04 1024)
Last week in review 👉🏻Market Review+Core Position Analysis (08/04-12/04 2024)
“In the stock market, you can stand outside the market for free, watch and wait for the best time to bet. You can see the 'bottom card' of the market for free before placing a bet.” -Mark Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US$ Dispatched on Wednesday and Friday;
$S&P 500 Index(.SPX.US$ Dispatched on Tuesday and Friday;
$Dow Jones Industrial Average(.DJI.US$ Attracting funds on Friday.
DJI > SPX > NDX
The market went all the way down after cutting the “Sky Pool” on Monday. During this period, we can see that some people in the pool have become part of the seller's force due to emotional effects. Although the market is currently oversold in the short term and there is a possibility of a rapid rebound in the short term, we still cannot ignore the potential selling pressure of nearly 2 months. I never smartly search for so-called support levels. Every bottom is decided by buyers and sellers of all market participants. At that time, the market may once again give a clear signal like the “O'Neill Rule” on November 2 last year. Patience is necessary, and at the same time Be prepared for the potential next upward wave, and when it arrives, there are endless opportunities.
NDX and SPX weekly charts:
Looking at the weekly line, the speed of adjustment is a bit fast. Next, observe its behavior near the 30MA and upward trend line. Price and volume will always be a trader's best friend, turn off all the noise and focus on these two most honest basic indicators.
Market sentiment:
AAII has finally caught up with the pace and stepped out of the previous range; the Fear & Greed Index continued all the way down after breaking through downward. Currently, it is close to the extreme panic range of 25. Emotional digestion is still in its infancy, so be patient.
Core holdings:
Currently, I am still holding short selling positions on QQQ. Next week, I will pay attention to the trading volume of NQMain and NDX to see if I need to close the position in the short term.
Current cash share: 86.31%
I am currently still on vacation. I will spend a little time observing the market and the behavior of some of its individual stocks after the daily closing, and slowly begin to prepare for the next wave of potential opportunities, so I won't be busy when the opportunity comes 😅
Keep charging and wait patiently~
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
