Get ready to backup your truck 
Possible breakout in play.
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From daily chart, QQQ is resolving the bearish divergence. Not sure whether it has completed or not. If not resolve, can drop as low as 255 
(if lower trend channel line doesnāt hold). Anyhoo, I didnāt close my TQQQ/ QQQ trading position, merely cut down to 30% of previous position.
QQQ peaked on Nov 09 
same day as GSPC at 3645.99 (how come you said is 3627 on Nov 16?).
You are looking at peak (high) price in a day, while my calculations are based on daily close price.
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Still indeterminate 
Btw, upper downtrend channel was tested (resistance turned support) twice 
Bot 3 QQQ weekly calls ($295) for a quick multi-day trade Just lunch money.
However, Hussmanās recent returns have been less-than-stellar. His Strategic Growth Fund has returned just 2.4% over the last year, putting it in the 47th percentile relative to peers, according to Bloomberg data. And itās actually declined 1.4% on a three-year basis, putting it in the 23rd percentile.
In a bull market, return of a well diversified investor always fall behind. He will perform better in a bear market. Is debatable he can perform better than a growth investor for a cycle of bull and bear market.
Since 5 days ago when breakout is suspected still yet to be resolved. Still holding 600 TQQQs betting on breakout.
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Regrettably I closed 
all long QQQ calls and short put (TQQQ) yesterday when it was testing the resistance. Just happy that I hold on to 600 TQQQs 
I opened SPY calls today, UPRO now.
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With the way market behaves, looks to be bullish for some more time until I get my next false positive signal !!
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I think we might be headed for SPY 380-400 range by year end or more. My thoughts:
- energy, reit, transportation, banks, etc all recovering from vaccine news (holding stable)
- covid still raging which means tech stocks (especially consumer tech commerce) likely rally with usual holiday season pump
- trump may not be conceding the race but by mid dec when electoral college votes, itās over
- still a potential for small stimulus which may jolt the market even higher
Unless thereās a shock, itās going higher imo. Weāll need a pullback soon though for usual dip and pump scenario.
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I see buying spree on these dividend players. Lot of them at throw away price.
Weāll need a pullback soon though for usual dip and pump scenario.=> Likely around Dec 15th (guessing).
I will focus on QQQ/ TQQQ for trading and accumulating cloud stocks for buy n hold. Too many counters to monitor if go into energy, reit, transportation, cruise ships, financials, ā¦ FOCUS
Btw, I donāt monitor S&P at all. Just check chart to see what @Jil is doing.
Tech stocks are flying, donāt see any reasons to mess around other sectors.
Iām of opinion that cyclicals (energy, transportation, finance, material, etc) will outperform tech in 2021. I think every quarterly āimproved guidanceā will be cheered by the wallstreet even if itās not to the 2019 level for example. For now, Iām going to swing trade tech very aggressively when I see an opportunity.
- accumulate, buy dip and hold cyclicals
- swing trade tech with options and/or leverage ETF
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Right! This is like buying real estate during 2008-2012 !
Any good company went down by covid-19 issue will come back during recovery (unless bankrupted). Most of the good companies are in cyclicals (energy, transportation, finance, material, etc) , where good dividends are getting paid.
Take the case CUK, it was down to $11 (even less) and I saw 18% dividend paid, or XOM (8.29% dividend). I bought actually 3000 CUKs at $11, and as usual sold 2000 shares at $15 (which is wrong - I always do such nonsense !). AMC (non-dividend) bought 2000 shares, luckily it went upā¦All are at through away price. I bought thousands of Many good REITs less than $10 whichever is above dividend yield. Only thing is t read fundamentals and ensure they do not file bankruptcy.
Today when S&P is down, these dividend payers/cyclicals are positive and jump crazy.
You buy them now, hold long. When Covid vaccine is place, all travel, entertainment, shops (reits) will come back. Travel airlines, ships, railroad and road traffics come back, energy sectors will be fine.
Market is in buying spree with Covid medicine coming soon. Those two companies BNTX and MRNA are skyrocketing as they will get good (various countries, state) government orders. Uber and Lyft will swing back to top.
Too risky to jump into XLE now. Potential exhaustion gap. Ofc, could be continuation gap. Weāll know next week.
I donāt need dividends, have plenty
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I put a chunk of money into equal weight (RSP) in March as, historically, that crashes harder and recovers harder. For a while it seemed a mistake as only a handful of large caps rallied but lately it looks like it was a good play.
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yeahhhhhh with AAAAAAAAAAAAAPPPPPPPPPPLLLLLL ! No match !!
Iām bearish long-term on energy. It seems that by 2030 most/all new vehicles will be electric. That means weāre going to hit a structural decline in the need for oil. Natural gas is getting banned places, and more and more electrical power is from clean sources.
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