Watch out. Treasury yield curves are steepening in a way that they haven’t in months. Bull steepening often coincides with recession, but this is bear steepening, which is not recessionary, and more importantly is very positive for banks and any financial companies that lend long and borrow short.

well you’ve only been wrong for at least the last several years so we have that to go on. Today rates rising sharply and QQQ still climbing.

Thanks Randy, i took that 1st short. was hoping for a bigger fall but it worked. Just seemed ripe again.

Depends on whether or not you agree with my analysis & the theory I proposed over a year ago with that negative feedback loop between interest rates/inflation, commodity prices (particularly crude oil), and the stock market (which, so far, continues to play out).

As far as an actionable trading opp, based on the recent technical developments,I think the snap-back/dip buying rally off today’s post-opening lows and/or any additional minor upside to backtest the most recently broken downtrend line from below on QQQ or /NQ offers an objective short entry or add-on as per this post (also factoring in what I posted above about crude & Treasuries back in the ORANGE ZONE): https://rightsideofthechart.com/nq-qqq-60-minute-charts-7-1-24/

Agreed. JPM hit the first target (the short setup was posted in previous videos a couple of months ago) with the typical reaction off the initial tag of that target & the bounce appears to have mostly or fully run its course, with the divergences that were in place before that short entry still very much intact & even larger now. Here’s my daily chart.