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Blazin

Blazin

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Violating the 1/10 low today is a notch for the bears, we still have the 12/20 low at $451 below and I'm still leaning towards a test of that low. That one fails and the fun really starts back to Oct lows but that is getting a little ahead of ourselves yet.

This could coincide with QQQ having a true test of its 200d for the first time since the pandemic started.
 
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Sanrith Descartes

Sanrith Descartes

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Blazin said:
Violating the 1/10 low today is a notch for the bears, we still have the 12/20 low at $451 below and I'm still leaning towards a test of that low. That one fails and the fun really starts back to Oct lows but that is getting a little ahead of ourselves yet.

This could coincide with QQQ having a true test of its 200d for the first time since the pandemic started.
Click to expand...
QQQ just hit a cliff

1642536972437.png
 
Sanrith Descartes

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Blazin said:
It's all the big boys their intra charts all look uglier, hold onto your butts

MSFT & Apple could close at the lows of the day with one more good red candle.

edit..and NVDA intraday look like total shit about to breakdown
Click to expand...
I adjust my MSFT buy order at $294 and split it in half with half buying at $300.
 
Sanrith Descartes

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Blazin said:
$280 for me but to be honest I'm most likely to just buy QQQ when I think it's time.
Click to expand...
I think $292 is where it stops the elevator, but the difference of a percent or two to get the fill doesnt phase me in the long-term. At least for stocks like this.
 
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Blazin

Blazin

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Today will be the first day NASDAQ closes below it's 200d since April 3rd 2020. How will investors respond to that is going to determine our near term future. Do we buy the dip or do people begin selling more figuring the rally off the pandemic low has now ended. I do think we could see some selling that then as we get into the year that money will find its way back into market because of TINA.

First the RUssell now the nasdaq, are the rest to follow that all major indices are going to test their 200d in the near term.

For SPY that is 441 for the Dow 34944
 
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Sanrith Descartes

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RIVN :oops: -9%

Who could have foreseen an EV manufacturer who has produced no cars getting hammered?
 
Lightning Lord Rule

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Sold my small amount of MA. Tired of waiting on it to do something, and I think there's limited upside anyway. Basically for no gain, IE opportunity cost.
 
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Blazin

Blazin

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So tempting to buy a low of the day red bar if we get it at the close to just flip it, rather than wait for 452
 
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Sanrith Descartes

Sanrith Descartes

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Blazin said:
So tempting to buy a low of the day red bar if we get it at the close to just flip it, rather than wait for 452
Click to expand...
Watch the GOOG twins. They have stubbornly refused to drop back to the morning lows. They are carrying some weight on their shoulders right now.
 
Jysin

Jysin

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QQQs pulled into the big 370 pivot and held for now.

Tomorrow could get quite interesting. Think theres a decent chance of seeing a down open with QQQ into the 200D.
 
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Blazin

Blazin

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Jysin said:
QQQs pulled into the big 370 pivot and held for now.

Tomorrow could get quite interesting. Think theres a decent chance of seeing a down open with QQQ into the 200D.
Click to expand...

Also have a gap at $360.63 that could be a possible overshoot low
 
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