Yes, my mistake. I just did an analysis of the QQQ chart after close, without checking the Futs at the time. @schizo spat out his Bourbon and Coke!
Even though NQ moved up more than 1% overnight, SPOT ON, bro! Nvidea is up more than 11% and yet the rest of the market is either flat or down. Interesting day for sure.
Yeah it faded the opening gap, but still hard to trust any drop given the extreme tendency to make V shapes. It looks worse because it faded the opening gap, but overall not that impressive of a down day. I will say it makes tomorrow more interesting since the weekly candle is now not a certainty. However, Im expecting it to just go back up tomorrow since it's done that every time with these "fake" reversal days. Being red $2-3 range is really nothing and is the most since May 1st lol
Such a strong 3PM bounce like always. It's quite comical how insanely impossible it is to bring this thing down. Every support level this thing always makes that V. Those hungry algos and dip buyers always going to work.
I wouldn't exactly call it a strong bounce. Just a little toss, like a grandma tossing a ball to her little grandson.
Just did my usual QQQ chart analysis, (without looking at Futs lol), still doesn't look great for the Bulls imo. Was a bit of Dip buyers at the end once again. Maybe everyone is waiting for more Rate cut direction.
Told you all yesterday's drop was fake.Back up we go on our way to new ATH. Nothing will ever bring this market down.
I feel bad in a way. I wouldn’t mind it dropping for you if you still have any short position. I actually wouldn’t mind some volatility and certainly would have liked a better dip. know I sound like a broken record at this point, but this market just has to drive shorts crazy. There’s never more than a brief window before they send in massive green candles. it’s insane, but it’s never gong to actually hold any drip again. Atleast when it dropped in April, there was some belief that it could head lower, but yesterday was just too many instant V recoveries all day.
NVDA going vertical, gamma squeeze or whatever you want to call it. Up another 7% today on nothing lol.
Yahoo Finance reports "Elon Musk's AI company, xAI, announced plans to buy Nvidia's AI chips for its new supercomputer." Yeah, whatever. But QQQ was down most of the day, only to rally in the last 10 minutes to close up 0.38%. So it will be interesting how things pan out for the rest of the week. I'm definitely sensing weakness in the general market. If we tank tomorrow (and there's no economic news for tomorrow), that would not bode well.