Yes, Bitcoin ($BTC, /BRR, IBIT) is clearly below the uptrend line, but IBIT took out the 53.18 target today & is not coming up on the next target at 50.79 while near-term oversold. As such, the odds for a counter-trend bounce increase with each tick lower, so it’s probably best to wait for a snapback rally to support before shorting at this time.

Agreed 100% as that’s what I’ve been saying for months now (a clear trend of deceleration in the jobs market being overshadowed by the AI bubble & gross-overweighting of the AI stocks providing a false-guise of strength in the US stock market & economy).

However, to your roller coaster analogy, I think it’s more like the Incredible Hulk in Universal Islands of Adventure. Instead of the typically crickety-clack slow rise to the top followed by that wobble-pause before initial plunge, just after the Hulk starts & you think that’s about to happen, it explodes higher up to that initial peak followed immediately by that first sharp drop, which reminds me of the post-Liquidation Day, mostly AI-driven rally into the recent high. Just waiting to see if NVDA earnings will spark the first major leg down this week or not.

Hi Randy what are your thoughts on good quarterly earnings from nvda? It’s seems as though it kind of doesn’t matter. More massive layoffs being announced, Verizon to cut 18k. Ai will do nothing in the short term to help the real economy.

Maybe I’m more negative than most, but it feels like when are at the top of the Rollercoaster, when it’s get slow and shaky, before the big drop.

..and the charts from that comment/update (last comment reply I posted in that thread):

https://rightsideofthechart.com/qqq-4th-price-target-hit-11-14-25/#comment-37321

Will remain net short via $NDX & $RUT + long $VIX into the weekend in both active trading & longer-term accounts. Have a great weekend!

-rp