I'm sick of the BS from people like overnight. I've been calling for this bull market and if you look at my posts I've been spot on about this risk free unstoppable market. Yes I am very long. No idea where you get the idea that I don't even trade. Like WTF would I be here. I'm more of a swing trader anyways. Now that I got that out of the way, the reality is this bull market is not stopping here. I am going to give you the play by play of what will happen between now and 500. I have to see if I can figure out how to post a chart. Look at both the weekly and monthly charts. Both are extremely bullish and parabolic. There is zero chance of either reversing with just 9 days left in June. Make sure your remember that. June is a very bullish chart and as someone (forgot if it was here) pointed out the market NEVER peaks in June ever. Weekly chart: QQQ had a weekly gain of $16 or 3.5 percent. Look at that massive green candle stretching above the BB. Very rare, but it can happen in extreme bull markets. A ton of the Mag 7 throughout this run have had this same move. Now it's time for QQQ. Next week (June 17-21): Keep in mind the market is closed for Juneteenth on Wednesday so we have a short 4 days week. It is almost a guarantee that we will see an equal matching candle of what we saw this week. Could even be outdone. We will see one "red" day where maybe it falls up to $1, why? Because it won't Go up for 9 straight days. Has to have a red day in there. If you see that red day, that is your chance to buy calls for the rest of the week. Hopefully it happens on Monday. Then you would have 3 days of a rocket, but it could happen at any point. Bottom line is we are going up again. That puts us at about 495-496! June (24-28) Here is when things get more interesting. We will have a mini reversal around 500. It should hit it during this time. Absolute worse case is it will hit 500 first week of July. When it hits 500 I expect a violent reversal to take us back to 485-490 or look for any gap next week as a reference point. That is not the top though! It's a very tradable V and it will rocket back to 500. I could see it going above 500 anywhere as high as 510. The monthly chart also supports this too with an extreme bullish candle. Bottom line: Don't overthink this. It is happening and there is no chance of the market reversing here. The only way I could be wrong is if it decides to have a surprise $10 giveback, since that has happened every month at some point. However that just means a free dip to buy. Good luck and here's to making money! But please remember there is no top here and don't short unless it's for a really short timeframe. For those begging for a top/ end of this bull run here is what you should be rooting for and I also said this in a prior post. June ends massively bullish, July ends with a doji and we go down August. I am not predicting that, but that is your only hope.
You joined this forum just 13 months ago, AFTER the COVID crash and subsequent interest-rate hiking-cycle winding down. You joined this forum AFTER the Oct 2022 lows. You joined this forum on the WAY UP in the new bull cycle. You obviously did not see, nor experience with real money, what a bear market is. My problem with you is the same I have with Rickshaw and eqtrdr...You go on and on about zero risk, when the risk is out there. You are dangerous to new readers. By the way, where is your real-money journal, you cuck? I do not recall seeing it. All we see is you bloviating about the markets. All taking ball but no walking balls.
I don't completely agree with this. It conveys more of a mixture of disbelief and melancholy. And true or not, sites like ZH/doomgloom are more dangerous because they make newbies feel smarter than the dumb masses, while for the average retail investor it's simply best to just go long. When I wanted to buy my first house in 2012/2013, I ended up not doing it, partly because I spent too much time on those sites. In hindsight, that was the best time to buy (I eventually bought in 2017). Disclaimer, I bought puts (long exp) qqq at the close friday, how stupid ( but also have long positions)
Anyone in this market enjoying all the upside and not knowing what a down market feels like, probably got into markets around 2021 and 2022. I know many many new people in this marker and let me tell you, they have no idea about what has happened in the past. They only know a market that has gone straight up. They have never seen a bear market or a market that has fallen on hard times.......most new investors literally are buying stocks and seeing instant returns, they think it's the easiest way, a handful of people I know who never invested are jumping into the market and literally printing free money, most are now trading options becsuse of the better returns. I have a friend who turned 12k into 55k tbis year alone. Doesn't even know about charts or anything, just doing it based off of what he things is going higher and lower, and the dude isn't lying I saw his actual portfolio. Another guy I know is averaging between 500 to a 1000 a week trading options in nvda, tsla and amd. He said when it goes down I know it's coming back up, his last trade was nvda 130 calls, again someone who hasn't traded in the market very long. All I can say is I have seen markets behave like this before but it's now getting to the point where there is literally zero fear left in the markets as the vix literally falls day after day after day. The market is literally in vertical mode. Pull up any chart on mostly any stock and go out 5 10 15 20 yrs, it's literally a vertical climb high into the farthest galaxy we know.....
No one and I mean no one is thinking any type of 1999 unfolding.... What will happen. Markets will literally run up another 100% the next 4 or 5 yrs and then finally get a bear market only to resume the uptrend. So the next bear market when it comes would probably bring the s&p down to say 7800, that's after it has crossed 10,000 by 2030
Nvda and a few stocks own the markets .... But eventually in the years ahead markets will need new winners. Go back in history. No stock ever stays on top forever. Most have come and gone. The cycle shows this consistency over decades. So if you look at the top 10 biggest companies, they will probably not be in the top 10 in 20 or 30 yrs into the future....