UPDATE December 11
It's been a while.
So I will just get to it.
On my last update, I warned the market was getting "toppy." It is still getting "toppy. " it has moved within a range for weeks now. I still expect a spike up to 16500-16650 range. If it does not, that's fine too 🙂
Bearish divergences are forming... let's look at a few
this is just a sampling of stocks that I'm currently short on. They may go up, that's very possible. There is over 100 billion dollars in bonds to be auctioned today and tomorrow. I would watch the 2/10 inversion. iam also currently short the 10 and 20 year treasuries.
These are yields (iam short treasury bonds and therefore long 10 and 20 year yields. bonds down = yields up)
$Micro 10-Year Yield Futures(DEC3) (10Ymain.US)$
This is a big week, and I expect a big move. There are the bond auctions. CPI data tomorrow and the fed decision on Wednesday, followed by jobless claims on Thursday and PMI on Friday 😵💫🤯 That's a lot of lies to sift through 🤣
here is the moomoo event calendar
(the times are PST, 3 hrs before market time.)
I'm running out of time, so here is a quick look at QQQ. The upper expected move for today is 395.30, and the lower limit is 388.50.
I don't expect a big sell-off until Powell. We could rally until then. We could even rally with Powell (I don't think so, but 🤷). I expect a modest rally but mostly stay in a range.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
I'll close with some more random images I've shared in my community group.... I need to get better at posting in the general chat 😪
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102235596 : Hey @iamiam do you still think the market hasn’t had that big drop yet and it is still on the cards?
iamiamOP 102235596: yes, I still believe that. I expect new lows. but time is the hardest to predict, so just follow the market as it goes. when it goes, you will know. there will be no mistaking it.
71280062 : Is shorting bonds the same as going long the stock market?
iamiamOP 71280062: no