The Nasdaq bottom ( short term )

J

johnny_steel

I didn’t buy the reversal yesterday, i did buy today though. When you get a Huge reversal day like yesterday that not only reversed but also protected the lows of jan 24 and jam 28, you can go all in for a while. We should rally to resistance and see what happens.
My guess is we break above resistance only to swiftly reverse back below and continue with the downtrend.
opinions ?
 
%%
I JUST did a study on springtime bottoms, SPY,SPXS,spxu, SPXL,QQQ,sqqq, TQQQ;
bottom areas in those can take weeks to months.
With SPY,QQQ still below 200 day moving average/ took some profits on tech ETFx3...... cut a loss on SPXU.
USUALLY,QQQ outperforms SPY; past 52 weeks. SPY, liquidity leader did > in % gains mostly, 52 weeks. That can also vary much from week to week, in SPY compared to QQQ.:caution::caution:
 
This could just be one of those ATH charts we be seeing that fills the gap quickly.

Pretty certain, it will at least retest 460.
 
KGTrader4 said:
It ain’t over. I’m not convinced, I want to see sustained follow through. Too much damage has been done for this to end in two days.
More...

Indeed. This has no feel of follow-thru. We've seen this before. I bet SpotGamma will have some input on this over the weekend.
 
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