The following video provides a brief update on the Nasdaq 100 followed by analysis of various stocks & ETFs requested in the Trading Room by Gold members. Silver or Gold level access initially required.
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The following video provides a brief update on the Nasdaq 100 followed by analysis of various stocks & ETFs requested in the Trading Room by Gold members. Silver or Gold level access initially required.
AAPL & MSFT sliced through support into close.
There was a last-minute slide on QQQ into the close but I would read less than zero into any last minute rip or dip in the indexes just before the close as that’s when the ETFs & funds have to square off their positions for the day. That last-minute selling bleed over to the FAAMGs due to their heavy-weighting in the indexes. I also disregard any breakouts or breakdowns that occur in the final minutes of trading & usually pass on breakouts that occur in the final hour of trading, preferring to see how they follow-thru the following day.
I’ve been adding in to VNQ real estate ETF short over the past week. Fundamentally and technically. Back test and ready to roll?
With France & Germany announcing the second lockdown today, I think real estate will be obliterated.
BIG support on VNQ around 75.50 so a solid break and/or daily close below that level, especially with follow-up red candles, would be bearish. Of course, support is support until & unless broken so a case to go (or add to) long here with stops somewhat below can be made as well. Here’s my daily chart. Best of luck on the trade.
Many thanks Randy