I'm sick of the BS from people like overnight. I've been calling for this bull market and if you look at my posts I've been spot on about this risk free unstoppable market. Yes I am very long. No idea where you get the idea that I don't even trade. Like WTF would I be here. I'm more of a swing trader anyways.
Now that I got that out of the way, the reality is this bull market is not stopping here. I am going to give you the play by play of what will happen between now and 500. I have to see if I can figure out how to post a chart.
Look at both the weekly and monthly charts. Both are extremely bullish and parabolic. There is zero chance of either reversing with just 9 days left in June. Make sure your remember that. June is a very bullish chart and as someone (forgot if it was here) pointed out the market NEVER peaks in June ever.
Weekly chart: QQQ had a weekly gain of $16 or 3.5 percent. Look at that massive green candle stretching above the BB. Very rare, but it can happen in extreme bull markets. A ton of the Mag 7 throughout this run have had this same move. Now it's time for QQQ.
Next week (June 17-21): Keep in mind the market is closed for Juneteenth on Wednesday so we have a short 4 days week. It is almost a guarantee that we will see an equal matching candle of what we saw this week. Could even be outdone. We will see one "red" day where maybe it falls up to $1, why? Because it won't Go up for 9 straight days. Has to have a red day in there. If you see that red day, that is your chance to buy calls for the rest of the week. Hopefully it happens on Monday. Then you would have 3 days of a rocket, but it could happen at any point. Bottom line is we are going up again.
That puts us at about 495-496!
June (24-28) Here is when things get more interesting. We will have a mini reversal around 500. It should hit it during this time. Absolute worse case is it will hit 500 first week of July. When it hits 500 I expect a violent reversal to take us back to 485-490 or look for any gap next week as a reference point. That is not the top though! It's a very tradable V and it will rocket back to 500. I could see it going above 500 anywhere as high as 510.
The monthly chart also supports this too with an extreme bullish candle.
Bottom line: Don't overthink this. It is happening and there is no chance of the market reversing here. The only way I could be wrong is if it decides to have a surprise $10 giveback, since that has happened every month at some point. However that just means a free dip to buy.
Good luck and here's to making money! But please remember there is no top here and don't short unless it's for a really short timeframe.
For those begging for a top/ end of this bull run here is what you should be rooting for and I also said this in a prior post. June ends massively bullish, July ends with a doji and we go down August. I am not predicting that, but that is your only hope.
Now that I got that out of the way, the reality is this bull market is not stopping here. I am going to give you the play by play of what will happen between now and 500. I have to see if I can figure out how to post a chart.
Look at both the weekly and monthly charts. Both are extremely bullish and parabolic. There is zero chance of either reversing with just 9 days left in June. Make sure your remember that. June is a very bullish chart and as someone (forgot if it was here) pointed out the market NEVER peaks in June ever.
Weekly chart: QQQ had a weekly gain of $16 or 3.5 percent. Look at that massive green candle stretching above the BB. Very rare, but it can happen in extreme bull markets. A ton of the Mag 7 throughout this run have had this same move. Now it's time for QQQ.
Next week (June 17-21): Keep in mind the market is closed for Juneteenth on Wednesday so we have a short 4 days week. It is almost a guarantee that we will see an equal matching candle of what we saw this week. Could even be outdone. We will see one "red" day where maybe it falls up to $1, why? Because it won't Go up for 9 straight days. Has to have a red day in there. If you see that red day, that is your chance to buy calls for the rest of the week. Hopefully it happens on Monday. Then you would have 3 days of a rocket, but it could happen at any point. Bottom line is we are going up again.
That puts us at about 495-496!
June (24-28) Here is when things get more interesting. We will have a mini reversal around 500. It should hit it during this time. Absolute worse case is it will hit 500 first week of July. When it hits 500 I expect a violent reversal to take us back to 485-490 or look for any gap next week as a reference point. That is not the top though! It's a very tradable V and it will rocket back to 500. I could see it going above 500 anywhere as high as 510.
The monthly chart also supports this too with an extreme bullish candle.
Bottom line: Don't overthink this. It is happening and there is no chance of the market reversing here. The only way I could be wrong is if it decides to have a surprise $10 giveback, since that has happened every month at some point. However that just means a free dip to buy.
Good luck and here's to making money! But please remember there is no top here and don't short unless it's for a really short timeframe.
For those begging for a top/ end of this bull run here is what you should be rooting for and I also said this in a prior post. June ends massively bullish, July ends with a doji and we go down August. I am not predicting that, but that is your only hope.
( but also have long positions)
