NQ broke the channel line and it appears to be headed for the gap fill
It can go up much further based on the last rally. I overlayed it.
The only thing I guarantee at this point is a gap fill. This is way too bullish, it has to do it by next week. The rest of the rally depends on the Fed meeting. Long trades only for now regardless.
It can go up much further based on the last rally. I overlayed it.
The only thing I guarantee at this point is a gap fill. This is way too bullish, it has to do it by next week. The rest of the rally depends on the Fed meeting. Long trades only for now regardless.
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If it gets the gap fill tomorrow then I'm probably going all cash for the weekend even though I bought next week's calls. We'll see.
If it dips then I add, convinced we get the gap fill this time.
If it dips then I add, convinced we get the gap fill this time.
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I'm liking the EWZ (Brazil) trade, oil climbing plus the currency trade alone should cause a gap up
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Pretty typical of a melt up, futures doing absolutely nothing. Everyone's in for the ride now, and they don't want to sell.
I think I'm adding to my EWZ calls tomorrow, and just gonna ride that next week, win or lose.
I think I'm adding to my EWZ calls tomorrow, and just gonna ride that next week, win or lose.
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The timing aligns properly with teh Fed meeting at the second peak. Be ready for another failed pump next month, lol.
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Just a warning, if you decide to play this past the gap fill you are chasing an overbought condition. In fact, MFI is still overbought right now premarket today.
That is why I typically don;t play melt ups.
That is why I typically don;t play melt ups.
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Not sure if it will impact the market at all but cryptos look set to completely tank over the weekend.
Grabbed a couple of COIN and GME puts for kicks and giggles and reduced my long positions.
Grabbed a couple of COIN and GME puts for kicks and giggles and reduced my long positions.
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LOL, got stopped out on GME plus it;s an inverted H&S. Gonna hold COIN though. We'll see if BTC hold support, if it does then I'm out Monday.
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Note: Gapped filled as promised
FDAX broke out of the downtrend so more than likely the market gaps up instead of opening flat like last time.
I guess the market was waiting for the Fed meeting minutes to gain clarity on their plan. Something to keep in mind for the next market drop.