Beware the Ides of March! Possible Bull Trap Corrective Wave2!?!
Chart says all. I do not pretend to know WTH is gonna happen tomorrow, can't even see 20 seconds into the future fgs.
IF this plays like I think it might, gonna get Beary Ugly PDQ. See divergent indicators; the major indexes also diverge, DJI at new ATH while this struggles back to the breakout point. Gonna reject under the TL IMO.
I'd short this in QQQ March contracts. First wave took QQQ to 310; a 1.62 extension of the 28-pip drop from 338 ATH from current price at ~325 yields -45, so wave 3 might carry price down to 280; 5th wave grind back to just above October lows, around 11200, QQQ around 272 (above the 268 low on support line). If it won't bull by Tuesday 2 March then that dog won't hunt IMO. Expect this Unwind to grind down to the Ides on Monday 15th.
Gonna hit the Moon after this plays out...if it plays like this! This one goes out to The_Unwind; the bears emerge from hibernation!
Trade at your own risk, this is definitely NOT investing advice, just a WAG and a dice roll! GLTA!!
PS: "Making predictions is difficult, especially when it's about the future!"
IF this plays like I think it might, gonna get Beary Ugly PDQ. See divergent indicators; the major indexes also diverge, DJI at new ATH while this struggles back to the breakout point. Gonna reject under the TL IMO.
I'd short this in QQQ March contracts. First wave took QQQ to 310; a 1.62 extension of the 28-pip drop from 338 ATH from current price at ~325 yields -45, so wave 3 might carry price down to 280; 5th wave grind back to just above October lows, around 11200, QQQ around 272 (above the 268 low on support line). If it won't bull by Tuesday 2 March then that dog won't hunt IMO. Expect this Unwind to grind down to the Ides on Monday 15th.
Gonna hit the Moon after this plays out...if it plays like this! This one goes out to The_Unwind; the bears emerge from hibernation!
Trade at your own risk, this is definitely NOT investing advice, just a WAG and a dice roll! GLTA!!
PS: "Making predictions is difficult, especially when it's about the future!"
Comment:
Looks like a good call let's see! I shorted everything...
Comment:
Extremely Bearish, made beer money off coupla bounces intraday, none EOD; gonna gap down and sell like Hell IMO
Trade active:
Closed out most of day trades carry 10 each SPY / QQQ bear spreads overnight. Always a chance for a bounce in the AM, let's not get greedy...
Comment:
And... Here's Da Bounce! LOL so many Traps!!
Trade closed manually:
Yeah so the bounce failed but the selling was weaker and stopped around 313, above the 310 low price for QQQ from last pullback; a higher low suggests we might have a reaction rally coming, being prudent, might miss a drop but better safe than sorry IMO
Comment:
Impossible to tell at this juncture whether this 50% retrace rally is another short opportunity, or whether index will bull to a new ATH and buck the downtrend. All in cash!
Comment:
Amazing! Bull trap or new ATH wave? Not chasing this...
Trade closed: stop reached:
Bullish...
Comment:
Starts to look like a bull trap... wave 2? If it were gonna bull, shoulda lifted Tues after monster Monday IMO
Comment:
Now it looks like a bear trap LOL, gonna get bounce soon IMO
Comment:
market filling in this chart omg! get ready...
