MOS too

Spotify also has a 27% move to retest the breakout area…

would you be able to do a short technical analysis on GER30, it’s trading off compared to US market, that’s usually weird behavior.

Thanks
Great video and analysis. I like the way you analyse the charts for the bulls and the bears.

I don’t have a strong read on the near-term direction in /NG nat gas. After putting in the big divergent high on the 60-minute chart & then breaking down below the uptrend line/rising wedge, it put in a divergent low as it fell to the 2.231 support although the bounce off that support & DL were relatively minor, followed by a very impulsive drop once 2.231 was taken out.
This could be a momentum-fueled overshoot of the 2.067 support, should /NG snap back above it soon & if not, it will likely bounce off the initial tag of the next support at 1.952 although I’m not sure by how much. Here’s my 60m chart.

I have the same question on why VXX is under pressure. Randy, any insights?

VXX will likely see T2 & quite possible T3 in relatively short order if the Q’s & big tech take out today’s lows with conviction & another impulsive (5-6%+) leg down in QQQ towards the T5 target zone (and quite possibly beyond) kicks in.
Of course, if that bullish scenario (today’s lows or another marginal new low followed by a reversal & rally back up to & especially beyond the recent sideways range in QQQ) plays out, VXX will likely drop down to that 21.40 support level/optional buy point & trigger the stop on the active trade along the way.

Yep, nice broad-based continued momentum in the coal stocks today including BTU. I should warn, however, that if we smash through today’s lows in QQQ get a swift drop down to that T5 target zone & possibly more, the brakes could come on the rally in the coal stocks as crude would likely plunge along with the stock market (and coal is a competing energy source).
Sometimes these small, obscure little sectors that fly under the radar & have little-to-no correlation to the stock market can rally during a broad-based selloff in the stock market & other times, nearly everything gets dragged down with a tech-wreck & impulsive correction in the stock market, especially if/when forced margin selling starts to kick in… a very real possibility if we get another swift drop soon. If that starts to happen, I’ll watch the charts of the coal stocks & share my thoughts. As of now, the coal trade is strong.

Looking to enter on this one. Damn thing is so overbought I am scared to buy the top :D