For some reason I cannot post the chart!

I covered the metals briefly in today’s (Monday) video. Gold & especially silver getting oversold on the near-term time frames but all about EUR/USD & while I suspect a bounce is coming (in which gold, silver, & GDX will almost certainly bounce with it), I can also make a decent case for more downside to that uptrend line on the daily chart of EUR/USD before any lasting rally. Again, covered in more detail in the video.

Dang, your chart will not load. I would like to see what you see.

I hope it is a bull flag. I posted that I saw that setting up about two weeks ago.

I totally agree, but have a look at QQQE. Major upside there. I took long positions on QQQ and QQQE on Friday. Fingers crossed!!!

The measured target is 13% upside potential for Q’s

Stops for a QQQ short would depend (and vary widely) on one’s price target(s). If only targeting any of the next 3 price targets I shared on the 60m chart (T1 was already hit), and of course depending on one’s unique entry level(s), then a stop anywhere from 1-3% above the recent highs seems objective. If scaling into a long-term swing/trend position & shooting for my next target (T4) on the weekly chart (T1-T3 were already hit), then a much wider stop could be used, again depending on one’s unique average cost for the position.

;)

Very cool thx!

Speaking of Time and Price, some successful futures/forex traders think they follow the same patterns, just on a different axis (cf. The Other Way
The Greatest Story Never Told, https://thedanielcode.com/articles/The%20Other%20Way.php ).

If anybody wants to know when I make a long trade on the market, let me know and I will post it…..That will be your signal to go short.

20% for the S&P….. 40% for the Nasdaq

Same here Lol!

I wonder if market rallies another 20% in 2024, we might still be considered in Bear Market Rally?

Ima…
Count me in the loss column for ’23. Through my own misjudgement I have been shorting WAY more than going long. I have finally come to the conclusion that I might as well go long and join the winners and have some fun instead of punching my pillow every night…
Maybe me going long is the signal the bull market is over.
I know if I go long the market will IMMEDIATELY go down.

Good question. It takes the form of an Island Cluster Top (the 2 candles from wed & yesterday surrounded by gaps on both sides but ideally I like to look for Island tops (or bottoms) after an prolonged bull or bear trend. In this case, TLT is just (relatively) recently coming off a big downtrend & this has been just the initial leg up so personally, I wouldn’t put too much into an island formation, even with gaps on both sides.

Also, gaps are pretty common on TLT, more so than the stock market (SPY) so another reason not to put too much into the recent island, especially as the gaps were relatively negligible. With that being said, I am still short & near-term bearish but for other reasons.