It happens in bear markets. Another shoe dropped.

Looks like MSFT and GOOG have been holding up the QQQ, keeping it from having a worse showing than much of the market. ON a daily basis it looks like MSFT has put in another lower high consistent with a bear market.  If it breaks 260.20 things should pick up steam on the down side. 

Holding SQQQ today is very frustrating when Russell is down 2.9% and dropping and NDX is down only 0.35% and rising! I can read all the technical reasons but in reality it makes zero sense, big tech is in trouble and firing oodles of people.

 

Looks like MSFT and GOOG have been holding up the QQQ, keeping it from having a worse showing than much of the market. ON a daily basis it looks like MSFT has put in another lower high consistent with a bear market.  If it breaks 260.20 things should pick up steam on the down side. 

 

Holding SQQQ today is very frustrating when Russell is down 2.9% and dropping and NDX is down only 0.35% and rising! I can read all the technical reasons but in reality it makes zero sense, big tech is in trouble and firing oodles of people.

 

IMO, hold on. It should roll over. when it does it will be a hard roll. all the zombies are invested in big tech, they will bail hard eventually. within weeks to months I think.

Kwave, the nas composite looks like it has finally met all your criteria for a big bear as long as it stays where it is today. that would be two closes out of three days below both the 200 and 900. I'd like to see another close lower tommorrow and friday to solidify. what do you say?

the dumb dumbs are doing this and why QQQ is not down much. piling into big tech for safety from the banks, LOL

https://finance.yaho...e-and-meta.html

 

 

Looks like MSFT and GOOG have been holding up the QQQ, keeping it from having a worse showing than much of the market. ON a daily basis it looks like MSFT has put in another lower high consistent with a bear market.  If it breaks 260.20 things should pick up steam on the down side. 

 

Holding SQQQ today is very frustrating when Russell is down 2.9% and dropping and NDX is down only 0.35% and rising! I can read all the technical reasons but in reality it makes zero sense, big tech is in trouble and firing oodles of people.

 

 

IMO, hold on. It should roll over. when it does it will be a hard roll. all the zombies are invested in big tech, they will bail hard eventually. within weeks to months I think.

 

I just did some math, and SPX was up 11.4% Dec. low to Feb high, and then down 8.3% at the Mar. low. However NDX was up 20.7% Dec. low to Feb. high, and only down 9.2% at the Mar low. Talk about record disparity!

Kwave, the nas composite looks like it has finally met all your criteria for a big bear as long as it stays where it is today. that would be two closes out of three days below both the 200 and 900. I'd like to see another close lower tommorrow and friday to solidify. what do you say?

It has to go down pretty much immediately, or it could actually start to flip bullish.

You get to these big decision points and either it ZIGS, or it ZAGS. If you are expecting Zig, but market instead Zags, usually best not to fight it..

Apple is always late to the big decline, so we see what it does tomorrow...what it does, Naz will mimic.

Above 153, and big bad bear may be called off, but below 150 now, would not want to be long...

Assuming Rusty does not climb back over 1800 over next couple days, and instead ends up under the December low at the end of the week, thinking another tag of the weekly 900 a very real possibility on the next big wave down.

That momo.................

 

Kwave, the nas composite looks like it has finally met all your criteria for a big bear as long as it stays where it is today. that would be two closes out of three days below both the 200 and 900. I'd like to see another close lower tommorrow and friday to solidify. what do you say?

It has to go down pretty much immediately, or it could actually start to flip bullish.

 

You get to these big decision points and either it ZIGS, or it ZAGS. If you are expecting Zig, but market instead Zags, usually best not to fight it..

 

Apple is always late to the big decline, so we see what it does tomorrow...what it does, Naz will mimic.

Above 153, and big bad bear may be called off, but below 150 now, would not want to be long...

 

Best hope for bears is that the 45 min 900 continues its nascent rollover, and that this penetration gets reversed by morning or shortly thereafter.

Above that last big swing high around 12340 on this chart though, and bears might be in trouble....

the dumb dumbs are doing this and why QQQ is not down much. piling into big tech for safety from the banks, LOL

 

https://finance.yaho...e-and-meta.html

I bought META  @ 92 & I dont feel like a dumb dumb.....

warts and all I shorted more NVDA @ 250 and 258.19  this looks like pure exhaustion.  

Yes, Kwave  Apple, all the big tech, just like the nifty 50 of decades ago, (does anyone learn?) those names, the favorites get crowded into. It's the what's the big thing right now, or what is a common name, what's a favorite product I use, etc. When the music stops there won't be any chairs left.