Its all rigged to the upside, with the magic stock index futures. Remember folks...90% of all gains in the US stock indexes occurs overnight with the magic futures. Gap up after gap up.
I think you are reading too much into patterns into the daily charts because: 1) Daily is not really the best time frame for patterns because the time frame is too large. Too much happens within a day. 2) Futures Daily does not include overnight with distinctly different volume profiles and price action. 3) Time frame is too large to effectively take swing trade positions, imo, i.e. a lot happens in 24 hours. 4) The patterns you keep mentioning are "complex derivatives" patterns which are easy to see but rarely good enough to evaluate the trends. There are better ways. But all that is just my opinion. It is not that it is "rigged", it is just what it is. If your models and predictions don't work well, the problem is the evaluation method, not some cabal lurking in the background. I mean, what type of "analysis" does not take into account market forces like monetary policy?
%% There is a lot of noise on daily charts; but put 50 or 200 together + that tends to be helpful. I would not call them rigged \they seldom sue any trading firm for banging the close.[ illegal] In other words/ the US capital markets/stock markets went up 100 years before the FED was formed...........................................................................................................Even a top trender like QQQ does not beat SPY/dow every day/just mostly.
FALSE! And where did you say new ATH by April? Rickshaw said we'd be at ATH in NQ by last Friday. The Nas/NDX has corrected, and is not having an easy time trying to get back for the bulls. And the spread between NDX and NAS is now an almost whopping 400 points. That's just NUTS! Mega-tech is getting reamed in the ass from those rising bond yields.
Calm down. I know the spread is huge. But watch the rotation soon where the nasdaq will.play catch up. Once the bond yields fall the nasdaq will play catchup extremely fast. Unless the yields jump to 2%, then the ndx and nasdaw spread will be perfectly aligned near the bottom
The ndx will be fine. It’ll be the laggard, but it’s headed for ath’s. I also think it’s cute that anyone believes rates tied to tech as a correlation. as for the head and shouldered, it executed. It was shallow-ish. But we are in a bull market you know.
Do you believe everything the financial press prints? (@Overnight ) Come on now.. try a little harder.
You didn't explain it. How do rising bond yields not express themselves in mega-tech selloffs? Don't show me a log chart. Explain it to me in words, on why the NDX just went through a correction, while SP/DOW are at ATH? Please explain it to me in non-financial stupid terms I can understand.
Wait, so tech went up as rates have been rising for the past 6 months and you see a small blip at the end, and that’s causation for you? Ok, cool. Happy trading. This board will rot your brain.