Comments on: QQQ Deja Vu: Next Sell Signal Still Pending

By: rsotc

rsotc — Tue, 11 Apr 2023 15:34:48 +0000

In reply to Jeff Vandenburgh. I appreciate your feedback & respect your views on the market. I also address your differing views on the market in the video I just posted today. I was finding (and sharing) a lot of attractive long setups earlier in the year but have found it increasing difficult to find long setups recently although here's one that could run over 2.15 (SKIL).

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 11 Apr 2023 14:42:50 +0000

A lot of rotation today with QQQ once again weaker than every other sector, but some of those other sectors are beginning to look exhausted to the upside now, too. Meanwhile, Bitcoin makes fresh new yearly highs, and the DXY continues to be weak, sending the message that money still wants to go into assets rather than stay in cash.
Hawkish comments from Fed speaker Williams seem to have countered the earlier market bullishness off of the dovish IMF report.

By: trade0039

trade0039 — Tue, 11 Apr 2023 14:26:49 +0000

Interesting chart to see!

Its funny but I think its true. If there are 100 traders, all the 100 traders will see things differently.

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 11 Apr 2023 13:24:17 +0000

Deja Vu again this morning for those that are just trading the trend and buying the dip. Was a dip of only around -0.2%, but that was enough for a long entry in this market. An IMF report shows stronger economic activity world-wide and easing central bank policies world-wide. Whether really based in reality or not, it’s another reason to buy assets.

By: thebeagle55

thebeagle55 — Tue, 11 Apr 2023 00:59:02 +0000

In reply to Jeff Vandenburgh.

short covering nonsense.. been hearing that crap for the last two weeks
this isnt short covering..every dip gets bought.. very bullish as a lot of us on
here have stated.. only the bears cant seem to see whats directly in front of
their face..

By: jmcolli07

jmcolli07 — Mon, 10 Apr 2023 22:33:05 +0000

In reply to Jeff Vandenburgh. Jeff. Agreed. Unfortunately. I agree with all the fundamentals that randy stated. I agree that we have no good reason to go up, and yet we are. If the delusion is to the upside doesn’t it make sense to bias that direction? I think if we break the recent highs that will cement it for me.

By: Jeff Vandenburgh

Jeff Vandenburgh — Mon, 10 Apr 2023 20:53:58 +0000

Although QQQ/XLK/SOX seem ripe for a pullback, are you looking at any other stocks and sectors that might be showing strength? What might the market be telling us when breadth improves across all other sectors when XLK is weaker? I don't know how to understand it from my uneducated point of view, but it APPEARS there is a massive overabundance of liquidity looking for a home, and even if financial conditions deteriorate, so long as there is so much money sloshing around in the system, then there will be this constant rotation that manages to keep everything, including Bitcoin and precious metals, in an uptrend, and all dips are buying opportunities. Am I wrong to think these things? I'd love to be bearish, as that is how I'm positioned (and getting punished for it), but I wonder if maybe I should be looking at more buying opportunities when they occur, rather than shorting opportunities? Is it possible that 2022 turned the majority of the trading and investing world into bears, and that those bears now are fodder for the rally as markets continue to climb a wall-of-worry long into the future? If the "purpose" of the rally is to get every last short to cover, is it possible that the last bears don't cover until all-time-highs are exceeded? Is this not the new "most hated rally" ever, and therefore likely to go on longer than anyone would ever believe?