I've gathered from more experienced traders that the bulls needs the nasdaq to go up for their setups to work well. At this point, we've formed 2 bearish candles on the monthly, with a huge divergence between the 10 and 20 period MA, which historically have been areas of support. The weekly doesn't look great either. I'm trying to keep things simpler. It feels like a time to sit on hands, maybe sell some credit spreads, and not get too crazy on size. Looking at the candles, I think we go sideways for a few months before the next leg up. I don't think we outright crash with a 30% correction. But that's just me. Curious what others think about the current condition of the markets right now.
A swift spike above 14000, then a sharp reversal down. All within a month or two. Things are getting very dynamic/dramatic.
I took profits at the end of last week. I didn't like the tone of Mr. Powell's presentation, and got a few other signals. But I'm probably wrong. I've been told that stocks only go up.
%% Uptrending bull market looks fine/above 200dma/QQQ, qld,SPY/spxl; SQQQ,SPXL looks better today/OK Fed head sounded fine, but the US stock market uptrended 100 years before FED was formed. Liberal loon reporter\NPS tried to bait him on ''climate change''LOL I dont know if my sdow entry got filled?????Like Molly Wood said on business news. @ NPR ''crazy market/LOL'' AMAZING gun + ammo/all kinds of ammo sells + buys...............................................................................
It will happen within 12 months. TSLA pe ratio over 1000. Lol. Warren Buffett once said a healthy PE ratio is 13.3.
Da fuq? It happened 12 months AGO! Remember? 30% in like a month? You want it to happen every 12 months then? You are mean!
That didn't count cause it was reaction to Covid. It bounced right back. The fact remains that PE ratio over 1000 is unhealthy.