Full Bear Mode in the $QQQ $NDX Right Now
Let's F'in Go Baby! After being bullish at the lows on Christmas Eve I have been pretty Bearish since 7040ish and continue to remain so. With GDP set to be slowing Y/Y in the US equity markets are out of sync and this was a nasty short squeeze to the upside. With a break of the rising trend I am looking at continuous lower highs to continue here and the retracement begin back into the 200 day MA.
This NINE WEEK RALLY is long overdue for a pullback and whoever is buying after NINE STRAIGHT UP WEEKS are just looking to get REKT to the downside. If the 200 day MA holds on this retest and GDP turns (for some reason) then I may have to change my longer term tune, but until then...My Short is beginning to Work...
agreed. I'm bearish in general. but in NASDAQ I want to see a strong move with daily close under 7000. Then I'll start looking for short setups.
Agree as it seems that the market is pricing in good news in terms of the Fed (which they got) and the trade war. With all the uncertainty there, the downside is the path of least resistance.
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