Update: I have a programmer working on the issue & it should be resolved today.

Yep & the risks just increased with their bankruptcy filing.

That positive (bullish) divergence on the QQQ weekly has already played out for at least a decent, swing tradable rally & could certainly play out for a much larger rally. However, you have to take a few points away from the weighting (consideration) of bullish developments within a bear market, at least at this point IMO, as we haven’t seen a typical wash-out/capitulation-type bottom.

That doesn’t guarantee that the bear market isn’t over but it does make it less likely that it is.

Yes, I removed that lower downtrend line & had on my QQQ daily chart & my primary focus has been on the 60m chart of QQQ although the daily, especially on SPY, still carried a big weighting, especially with SPY testing & getting rejected off the downtrend line & 200-day MA’s again recently.

That’s funny! My ex-spouses’ nickname is Ford! LMAO!

thank you

I tried troubleshooting the issue & couldn’t figure it out. I’m working on getting a programmer to fix the issue & will let everyone know when it is fixed. Thx for pointing it out.

I try to always be open to all possibilities and most importantly, all probabilities. I can make a pretty solid bullish case for the intermediate-term (weeks to months) based on the recent price action & technical developments but I can also make a solid case for the bearish scenario based on the longer-term (weekly & monthly) charts. As such, my convictions on the direction of the next 10-20% isn’t very high right now so focusing on actively trading off the shorter-term time frames right now until that I get a little more clarity on how to position with long-term funds.

will do in the next video.

“There has been a critical error on this website.
Learn more about troubleshooting WordPress.”

Never mind. The BOJ just came in an out-doved the doves. Looks like long equities and treasuries is the way to be.

Chart doesn’t look good and neither does the news. Automotive inventories are growing and dealers will have to start offering incentives to move it.

Next support is about 3.64% lower about $12.17

Next support after that is about 11.5% lower than today’s close about 11.14.

If i had to bet, 12.17 will be hit before 13.50.

At the same time, the DJIA has rallied above and backtested both it’s 200dayMA and the 2022 downtrend line, so that looks bullish. But it did the same thing in 2002, and then managed to fall 30% from there. Eventually the bear has got to get bigger if it’s going to be a recessionary bear. So far it’s just been a necessary re-pricing of overvalued growth stocks to reflect the higher interest rate environment. Time will tell, but I’d rather be more short the stuff that went up too much in 2022, and less short the stuff that already got murdered.

Are we long or short QQQ And on what time frame

You’re right. It was kind of a funny comment.

This is not tech Analysis of ford BUT. I do live near a F-150 Plant and with the chip shortage ford stored the unfinished Trucks at a race track along the freeway. It was a sight to behold. a landscape of F-150’s easily 15-20 thousand covering the land for as far as the eye could see. it was like that for over a year…. This week they are almost all gone. Chips received, vehicles completed and shipped . My gut would say they are headed to buyers and Ford is going to book some big backlog of sales pretty soon..

Lol I just want the short levels? I’ve worked for ford for 10 yrs and 7 yrs before that at a Indy shop one thing I learned about cars are they are all garbage lol its whatever keeps you happy before it breaks down

LOL

Ok, ok, …. I’ll second the motion! LOL … All in favor say please! LOL