The backwardation in Crude is frightening. We've switched to the Sep contract, and it's 3 bux lower. That's a lot of tix. Classic rollover is on Monday/Tuesday on this cycle.
This is true, but it must be typed in context. There is no inverse ETF only ZUUL! It's about the cadence.
Diana Olick would be waaay ahead of the CNBC chaps if she took the trouble to befriend me. Instead, she flounders calling the real estate market top by getting confused by the Yale 20-city composite index and whatnot HOUSING sector topped in a dramatic FAILED 5th wave in December 2021. Housing is done for, its dead, its finished. A failed 5th wave is massive. http://tos.mx/ketsgzd
British Empire cannot fool me. I've got her number real good. Not a trading item but I use the Index in MY OWN concoction of the Dow Theory Timing package = DJI, DJT, SPX, IXIC, NYA, FTSE-100, GDAX Brits were going on and on screaming during the crash of 2020. Where the heck would it end? I said, "high odds of 32.8% halting the decline. Go Long if right" See for yourselves. Now start watching the horror movie as it begins to unfold as the London FTSE 100 starts to drop away from the trendline shown on right edge of chart. Horror of Dracula soon to come to Picadilly http://tos.mx/DuY5iNn
Loser! Still IN & losing. Just plugged in addition to Loser at 61.8% if Q gets there at 297.25. See reason below already explained and stated (see post #62 ........... 50% retracement of the preceding Wave is the answer. Odds = 70%. Failure here and continue higher? Its possible but there too there is the boon of even better odds then because that level is 61.8%. When odds are in my favor I don't need guaranties. I go with it.) Here's the truth though: Never expected 50% would fail me as the 5th wave thrust looked completed to me. But obviously I am wrong and that part of the thrust was only the internal wave 1 of the full thrust. So my assumption now is that 61.8% will complete the entire thrust so that's why I have an additional short at that level. If wrong there too I will close out the 2 new positions and take the loss on this Trade short entry to rejoin the expected downtrend.
See my 5-min. chart below for the 2 white arrows depicting the 61.8% level. Add to short is at that level. If Q goes higher I will accept I am wrong and close this Trade out for the Loss. http://tos.mx/Zab7SPh
QQQ 5-min. updated with a 2nd trendline. Short positions as-is still ongoing. Plan unchanged. Short stance overall remains as-is. http://tos.mx/0Fs8caE
QQQ update ............. still waiting for Q to get up to 61.8% so my plugged in add to short will happen but I am going to add one right now anyway and still keep that one for if/when it reaches there because its always possible it could be a failed 61.8% hit, i.e. Q does not have the nerve to go right up to the golden ratio. So therefore, QQQ just added to Short 295.88
QQQ 5-min. chart update no change except for calling into play the RSI trendline shown for added guidance. Don't forget the white arrows at the top right which clearly show the 61.8% level. http://tos.mx/aknCNGk