SPX 3000 within shooting distance. A bit extended, so a small pullback this week, rally into mid/late July, primary earnings, with divergences...then the "normal" seasonal volatility from early Aug-early Oct. Vol traders don't get much love these days, but they will get their fun once again soon.
Bull Market
Started by
tommyt
, Jul 07 2019 10:10 PM
3 replies to this topic
#2
LMF
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Posted 07 July 2019 - 10:41 PM
I"m pretty sure the TQQQ MM guys are not in a good enough position to let this thing breakout to the upside yet......its the inventory thing. The down open on Friday went right into a 60 minute upwave that's still ongoing, and the Monday open looks the same right now. Like they're trying to abort it faster than normal. Under more normal conditions they would let the wave top out on its own without trashing it. Last time it was down at the 60 min 200 MA was back on June 12......and right now that would be down at 58.36 and rising. And 3 gaps to fill on the 60 min chart on the way down. Nothing will surprise.....
#3
LMF
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Posted 08 July 2019 - 12:35 PM
Theres just a huge 2-month top formation on SQQQ and theyre trying to get everybody to buy in at 33.56 to 33.68. Then they release the trap door and it goes down to a penny or so. Such a deal......
#4
slupert
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Posted 08 July 2019 - 02:41 PM
SPX 3000 within shooting distance. A bit extended, so a small pullback this week, rally into mid/late July, primary earnings, with divergences...then the "normal" seasonal volatility from early Aug-early Oct. Vol traders don't get much love these days, but they will get their fun once again soon.
This market has under promise over deliver written all over it, new highs coming. (JMHO)
