This week’s earnings:
Number of buy commendations at Wall Street firms in the last week, cross-ref’ed to SPX. Buy rec’s are at multi-year low last week.
Red boxes marked a short term top. Gray boxed marked a short term bottom.
Nasdaq looks very oversold. This is a chart of up volume - down volume. Almost to the level of March 2020.
Roblox IPO on Wednesday!
Now it appears to be a pullback so funds can load up and lower prices before the stimulus makes the economy grow even faster.
400 very possible. Was 400 back in November
Market continues to dump tech. Recovery stocks are doing well.
@hanera, Did you notice NVDA has max pressure? Today is the best price to enter. ofc, no one knows future, but it is very attractive price.
Not only NVDA, all these mega caps getting corrected are in good price. Ofc, market is rotating stocks, selling tech (all wfh…etc) and buying covid-affected stocks like airlines, entertainment, restaurants…etc
TSLA is coming to unique low level to bounce back (as per my algo), just like turning point at $880, now is the deep lowest turning point is happening with TSLA. It can still drop or turn upside. If there is a drop, that is the final point to turn.
BTW: This is posted for discussion purpose, not a stock or investment advice.
Stopped out of NVDA when it dropped below $509. The account for semi portfolio is now all cash $300k… waiting to pounce… Panda has a change of heart… @pastora has yet to go bullish… so wait…
I am not depended on those decisions, QQQ is 301 now, but my algo…Just DCA everything I have…including more TSLA,TQQQ. Let me see…
I see bullish divergence in the 1 minute timeframe of QQQ but only 4 waves… so may be one more wave down, just a 1-2 dollar down.
Edit: Now is 5 waves Bot some QQQ calls for a gamble.
It is possible by around 12:45 PM PST, deep sell off can happen…
All these fluctuations are to shake out retail bulls and bears… taking all their money…
SPX chart is more bullish than QQQ… So impulsive looking.
Haha. Correct. I’m staying out for now. Bought some uvxy at top today and will monitor.