Comments on: Technical Analysis & Trade Ideas 5-5-23

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 05 May 2023 19:58:10 +0000

Last leg of hope for NQ bears… potential channel resistance.

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 05 May 2023 19:47:38 +0000

In reply to seasix. Reminds me of 2019 when he went bearish in mid-late January while stocks continued higher for 4 more months before a decent pullback. And then again in 2020 when he stayed bearish after the March lows while stocks went on to have 20 of the most bullish months in history.

By: G

Fri, 05 May 2023 19:38:06 +0000

If the market has a job it is to make as many people feel like fools for as many times as possible – David Frost.

Have a great weekend everyone. See you on the other side of Sunday.

By: seasix

seasix — Fri, 05 May 2023 19:34:07 +0000

In reply to Mikeflegel. He had a good run last year, but since jan of this year been disaster with keep trying to short QQQ and long UNG. An no, no calling 50% winners when you never bail on a stop loss.

By: Mikeflegel

Mikeflegel — Fri, 05 May 2023 19:26:40 +0000

You have called this last year so closely that I don’t see how anybody could just disagree…. I know you have attempted to explain you’re Theory befor I know it must be based on more than just a gut feeling or you would not have brought it up. Is there any way historically to support it in the charts or any other way we Could You could Explain it. I’ve been here a year and a 1/2 starting 2022. Just a big wow…

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 05 May 2023 18:34:27 +0000

Another FOMO Friday. It feels like a bull market, a raging bull market, where the risk is to the upside on any mid-week dips. Where no one is long enough. Where the wall-of-worry can continue until absolutely no one is bearish.

By: KevinK

KevinK — Fri, 05 May 2023 18:12:47 +0000

Can someone explain this to me….

AAII Sentiment Survey 24.08 Bulls 44.90 Bears
Investors Intelligence 45.80 Bulls 23.60 Bears

???????

By: KevinK

KevinK — Fri, 05 May 2023 18:01:46 +0000

A little short term observation….
The Q’s have peaked near 12,200 three times this year, and then pulled back.
Feb 2….12,200
March 31….12,221
April 28…12,226
We’re there again today.

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 05 May 2023 17:48:19 +0000

Without more potentially bearish catalysts in the near term, it is likely that risk-assets melt upward this summer. Employment numbers are as strong as they’ve ever been, while inflation has come down a lot, and the Fed has gone on pause (for now). The “soft-landing” is here. This could be the most bullish economic scenario we’ve had in a couple of years.

By: KevinK

KevinK — Fri, 05 May 2023 17:46:43 +0000

In reply to Jeff Vandenburgh. Good observation early, but HYG and JNK playing catch up this afternoon