Overall Market Rally

8 févr. 2022

Incredible Bullishness on Tuesday, but the run is flawed and fragile, and losing volume. Unclear if this week will peak out and then fall, or if that comes on Monday, but I'm planning SQQQ when SPY hits 464.00 area. I think it may gap up there tonight and open and then just flush down, because that's the volatility we are in.

8 févr. 2022

Note

When we dropped, we went into single prints, meaning no volume at each price on the way down. And then we did the same on the upside. Now we have two blue lines where the single prints begin. One above, one below. draw a fib between the two and you see what we get. Ended right exactly between them Tuesday. I expect we'll check that high one before we crash through the low one. I remain very bearish into late February, with a volatile and massive bounce almost to 464 level again, known as the second test. Afterwhich, we'll be in a tighter range and eventually try to make a new high if this pattern holds. But honestly, I'm not investing until everything is way down early next year. Day trade wise, I'm buying as much Rivian as I can around 30 when this dip touches bottom. And you better be quick because it will leave a long ass wick. I expect a return to 100+ in less than 8 weeks. But I will not hold it longer.