NQ... My Bias is still short

[cvds16]

despite what you write you are not sophisticated enough if you can't see the market has turned

 

[John9999]

UPDATE: ok we are obviously at a key point on NQ,,, right at the high trend line... HMMM.. we break above and the market has turned? or this is rejected again and the sell off continues? I will trade whichever happens, we shall see

 

[John9999]

And just what I expected today. After the big move out yesterday and outside of the upper band we have a consolidation day, closing almost exactly where we opened. this looks super similar to the last two times we broke above and we know what happened next.

 

[murray t turtle]

UPDATE: ok we are obviously at a key point on NQ,,, right at the high trend line... HMMM.. we break above and the market has turned? or this is rejected again and the sell off continues? I will trade whichever happens, we shall seeView attachment 195103

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Could be a bottom area, 4th quarter, can be strong for stocks, especially tech stocks.Still below 200 dma but QQQ is positive, YTD.

But even with 20/20 hindsight, 2008 bear had some [many] multi-months bottoms [more than 2 months, bottom process]

 

[Overnight]

Trump-Xi meeting will be key now.

 

[John9999]

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Could be a bottom area, 4th quarter, can be strong for stocks, especially tech stocks.Still below 200 dma but QQQ is positive, YTD.

But even with 20/20 hindsight, 2008 bear had some [many] multi-months bottoms [more than 2 months, bottom process]

Well I’ll trade what my strategy says. I just do not think the correction is over. But it doesn’t matter. Short or long we make money. Just think of the millions of investors who have never been short.

 

[Overnight]

...Just think of the millions of investors who have never been short.

Investors don't hedge or trade things that expire, they are long-haul longs. That is the very definition of investing, aye?

Is there any equity market index that is currently negative since it's inception?

 

[murray t turtle]

Well I’ll trade what my strategy says. I just do not think the correction is over. But it doesn’t matter. Short or long we make money. Just think of the millions of investors who have never been short.

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I'll admit it could be a bottom area; nor would i object to making money off a weak uptrend . One trader said 200 dma lags too much; yes it does lag . LOL But 200 day moving average has always been helpful+ clear line. NOT a prediction.

 

[John9999]

updated daily chart. The big breakout on Tuesday of 200 points is exactly the same as the 11/07 break out. But at least for yesterday and today we have not had a down day like after that last break. And the meeting this weekend for Trump could be the catalyst to continue higher. HMM, December could be very interesting.

 

[murray t turtle]

updated daily chart. The big breakout on Tuesday of 200 points is exactly the same as the 11/07 break out. But at least for yesterday and today we have not had a down day like after that last break. And the meeting this weekend for Trump could be the catalyst to continue higher. HMM, December could be very interesting. View attachment 195201

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QQQ is still below 200day moving average, daily,+ weekly charts=bear market.
SPY maybe, may not slightly above 200 dma.While it could be bottom area, in bear market; 2008 bear had multi-month bottoms,NOT just2 month bottom. { I dont mind a profit, in a weak uptrend, but its still a weak uptrend ........}
NOT a prediction , not bank insured.