People selling $NVDA today at $205/share to buy the $SPCX IPO is one of the most retarded things I've ever seen.
It doesn't seem that way today to the retards who are selling, but check back in 6 months. I'll retweet this and only then will it be painfully obvious.
$QQQ — Thursday 6/4
If I don’t see many using I will discontinue posting.
We are now trading directly around:
736.20 daily exhaust support
735.60
Continuation Recovery Plan
For buyers to regain control, price needs to reclaim:
739.77
→ 743.34 pivot
→ 744.85 weekly exhaust
Above 744.85:
continuation opens back into:
→ 747.94
→ 750.86
→ 752.54
→ 754.90
The key detail is that buyers no longer have immediate control of momentum.
They now need to prove acceptance back above the prior exhaustion cluster. The key to this is where the weekly support is.
Contracts:
$QQQ 740C on reclaim of 740
$QQQ 745C above 745 acceptance
Targeting 748 → 752 → 755
Pullback / Breakdown Plan
If price remains below:
739.77 → 743.34
and continues losing:
736.20
Then downside opens into:
→ 731.70
→ 731.60
→ 727.77
→ 726.20
Below 726:
→ downside expansion opens toward:
718.50 weekly pivot
and potentially deeper corrective behavior if momentum continues deteriorating.
Contracts:
$QQQ 735P while below 740
$QQQ 730P below 736
$QQQ 725P below 731 support failure
Bigger Picture
This is the most important session we’ve seen since the move above 700 began.
Why?
Because for the first time during the expansion cycle:
buyers failed to defend upper exhaustion territory.
The structure now looks like:
700 breakout
→ reclaim confirmation
→ vertical expansion
→ weekly exhaustion
→ monthly exhaustion
→ repeated upside attempts
→ first meaningful momentum deterioration
That does NOT automatically mean a major top is in.
But it does mean the market is transitioning away from the clean expansion phase that dominated the previous advance.
The key battle zone now becomes:
743.34 pivot
744.85 weekly exhaust
745.25
If buyers reclaim that cluster:
the trend can stabilize and continue higher.
If sellers keep price below it:
the probability of a larger corrective phase increases substantially.
Current structure:
Above 745:
→ continuation into 748 → 753 → 755+
Below 736:
→ continuation lower into 731 → 727 → 726
Below 726:
→ opens the door for a much larger unwind toward the weekly pivot structure.
The next few sessions will determine whether this is merely a pullback inside the uptrend or the beginning of a broader corrective phase heading into the next major cycle.
K bye.