NQ... My Bias is still short

despite what you write you are not sophisticated enough if you can't see the market has turned

 

UPDATE: ok we are obviously at a key point on NQ,,, right at the high trend line... HMMM.. we break above and the market has turned? or this is rejected again and the sell off continues? I will trade whichever happens, we shall see

 

And just what I expected today. After the big move out yesterday and outside of the upper band we have a consolidation day, closing almost exactly where we opened. this looks super similar to the last two times we broke above and we know what happened next.

 

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Could be a bottom area, 4th quarter, can be strong for stocks, especially tech stocks.Still below 200 dma but QQQ is positive, YTD.

But even with 20/20 hindsight, 2008 bear had some [many] multi-months bottoms [more than 2 months, bottom process]

 

Trump-Xi meeting will be key now.

 

Well I’ll trade what my strategy says. I just do not think the correction is over. But it doesn’t matter. Short or long we make money. Just think of the millions of investors who have never been short.

 

Investors don't hedge or trade things that expire, they are long-haul longs. That is the very definition of investing, aye?

Is there any equity market index that is currently negative since it's inception?

 

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I'll admit it could be a bottom area; nor would i object to making money off a weak uptrend . One trader said 200 dma lags too much; yes it does lag . LOL But 200 day moving average has always been helpful+ clear line. NOT a prediction.

 

updated daily chart. The big breakout on Tuesday of 200 points is exactly the same as the 11/07 break out. But at least for yesterday and today we have not had a down day like after that last break. And the meeting this weekend for Trump could be the catalyst to continue higher. HMM, December could be very interesting.

 

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QQQ is still below 200day moving average, daily,+ weekly charts=bear market.
SPY maybe, may not slightly above 200 dma.While it could be bottom area, in bear market; 2008 bear had multi-month bottoms,NOT just2 month bottom. { I dont mind a profit, in a weak uptrend, but its still a weak uptrend ........}
NOT a prediction , not bank insured.