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Misc Stock Market

Corrective sequences usually hold the 20-30-40w ma's and bear markets reject. We aren't far off the 30w-40w ma's...only 2-3% more. Things will get really interesting if we get a close below the 40wma. I will flip to heavy long around there...so roughly Qs $400.

We are 6 days down in SPX...I don't remember the last time we had 7 days down in a row. So we might get a 1-2 week bounce before really testing the 30-40w ma's.

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Today I finally got back in the market with both feet. Qs had almost 2% gap down…that was just begging to be bought. Will see if it holds last weeks low.
 
SPY looks great...but running up against the 50dma. I am still heavy long in TQQQ from yesterdays huge gap down.

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Good week for tech stocks after they got whacked really hard the previous week.

Next week's probably going to decide if whether that was it for the time being (if so, I'd definitely watch out for September/October, which may be a problem regardless since it's an election year) or if we're at least going to do somewhat of a repeat of August-October of last year. Can't say I'm confident, recent Fed speak says that Powell is probably going to drop what he's done for about 3 of the last 4 meetings and be super hawkish.

I see a retest of the January 2022 ATH if we go for this.
 
I think we see a dip into mid week next week then we rally and fail near the highs set today followed by a waterfall into late May. I think the highs are in for 2024 at least until late year
 
TSLA gets self driving approval in China. Shorts are in absolute shambles this morning. It’s up about 25% since last week. Wild
 
Qs bounced at the Oct lows anchored VWAP last week...now today it's running into the 2024 high anchored VWAP. That might prove tough to get through...but we shall see.

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KyloG said:
Tsla up over 40% from its low last Monday after its awful earnings and guidance. This bull market just goes up. 😂
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Yep I’m eyeing the put side now. I grabbed some puts at the open and sold mid 180’s before they ripped shorts to shreds on that late day push
 
RoddyPiper said:
If I had a share of NVDA for every time I have seen you say that.....🤑💰💵
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lol I’m not a perma bear. I just see a lot of headwinds and I really do believe that this is a dead cat. I was a TESLA bull last week when everyone was screaming “Sell!” So I don’t think I’m really that biased.
 
KyloG said:
That's my thoughts too...I sold good bit into the close yesterday and now waiting for FOMC meeting tomorrow to see.
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rekd already and it’s only Tuesday. Gonna take a lot of hand sitting to keep me out of calls tomorrow for FOMC
 
Not the most appealing chart...I haven't really been enthused about this market for a couple of months. The one good thing is tech earnings have been really good...but so far hasn't mattered.

I don't have much on with FOMC today...I guess a retest of last weeks lows would be worth a buy.

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Added a bunch back of TQQQ at $52....FOMC "eased" with QT being reduced. Market should love that.

I am actually surprised it didn't jump higher immediately but luckily hovered until I could digest what they said.
 
KyloG said:
One of the days/weeks/months China trade might be appetizing. It hasn't done anything for years.

I remember back in early 2021 I met with a financial advisor whose recommendation was to sell tech stocks and buy foreign equities, including China. She was right on tech, somewhat...tech just broke out from it's 2021 ATH but China scares me.

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This was the bottom in China (HSI)...like a dummy I still haven't put any cash to work in China.

Chart shows a 3 yr trend line resistance coming up soon.

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I YOLO’d at the close. I think we see a 2% squeeze tomorrow and into early next week to take out the neckline IMG_7475.jpeg
 
KyloG said:
Added a bunch back of TQQQ at $52....FOMC "eased" with QT being reduced. Market should love that.

I am actually surprised it didn't jump higher immediately but luckily hovered until I could digest what they said.
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I sold 80% of this at the morning pop at $56.10. That's a big 2 day move...let's see how things digest.

One thing I haven't liked is all these gap ups...the Qs has gapped up like 12 out of the past 16 trading days and is down 4% during that time frame. That's not good...that's the price action you see in "bearish" sequences. But, it's darn near impossible to keep this market down so until that stops.
 
Bottom were the 515’s and top was a 0dte 510c’s I bought and sold on the dip earlier. I’m so bearish 💀 I left a lot of skin on the table on Wednesday so I went after this one IMG_7498.jpeg
 
Are some of you guys rich rich, like stock market play money, 100s of thousands rich?
 
Can't say I expected the last two days after what happened into the close on FOMC day.

It's been a nice bounce since the options expiry week where the Nasdaq got absolutely trashed, but I have to say, I'm still a little skeptical. We're probably at the point where any May weakness may just be a retest of the low though.
 
GeorgiaGirl said:
Can't say I expected the last two days after what happened into the close on FOMC day.

It's been a nice bounce since the options expiry week where the Nasdaq got absolutely trashed, but I have to say, I'm still a little skeptical. We're probably at the point where any May weakness may just be a retest of the low though.
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The real selling will start after May 20
 
Really wish I didn’t give $500 back trying to grab puts after 3:00. They pinned it good. They wouldn’t even offer up a decent red wick to exit on which was my plan. Green into Wednesday then gap fill 3-4 days later. Then slow push up to set a lower high then the bears feast into June
 
Some talk of meme stocks running soon...I did take some AMC earlier at $3.17

Small position for fun.

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