Can you guys not feel it? I sure can. Its coming. Will let you know when imminent if I'm on the site at the time. But get ready for it. Soon. It could be wrecked if some huge unexpected bad news comes out (which can wreck anything), but absent that it will strike higher soon. Don't miss this one like the last ones I told you about LOL...
I've been waiting for it since the middle of August, when I thought it would happen. So, not holding my breath. I have money committed to it. Do you?
Sorry, don't see a higher-high on the QQQ in 2022 in your chart you posted. Only Powell next month will dictate if we make a higher high on the trend, and that will not manifest until 2023. The QQQ would have to close above ~335ish to mark a higher-high.
1 year chart, still downtrend. Mkt slightly up/chop next week then mid December selloff is what I expect
That is a bad call if FOMC raises only 50 bps, and Powell hints at a pause, wait-and-see mode. But we gots Fed meeting minutes day before Turkey day coming up, so let's see how it plays out.
For a bear market, at least according to my systems, the bottom lacked the capitulation and long-term oversoldness I would expect to see at a major bottom. Although not all bottoms show that, so who knows. I have several systems and this is only one of the positions I hold (short QQQ). I will certainly adapt if the market proves otherwise, but I'm still short QQQ, until proven incorrect or until we get the capitulation I was looking for last month. Personally, I'd love a good 50-60% decline of the S&P, in general. It would open up the possibility of great long-term gains in the decade ahead. This ~25% fall doesn't feel like a huge bull market could emerge from it as we have gone near vertical up for over a decade (except for a few weeks in 2020 obviously).
Ken's probably the worst forecaster on here. He still has videos on You Tube about how to buy triple short etfs in a "Bear Market" from April 2020. Even QQQ is up 55% since. More recently he said Covid lows would be breached by August 2022. You can bet that once the next bull move starts in earnest it will be 1-5 years before some of the permabears on here figure it out. I'm not going to say the lows are firm yet but on the SPX they might be.