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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.
 
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
 
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