$SPY $QQQ big candle in the market, I marked where its gonna go in a few days; breach red going down, reclaimed green line is bullish, the main is stocks participation whether to the downside or upside.
Look at $VIXY, volatility is increasing, day trade mode
Keep scanning. Im ready both side.
Key is to protect whatever you have at the moment.
9 years ago I had my first $50k day. 7 years ago I had my first $100k day. 6 years ago I had my first $250k day. 4 years ago I had my first $1M+ day. Today I had my first $10M+ day. You can do it too.
$SPY $QQQ big candle in the market, I marked where its gonna go in a few days; breach red going down, reclaimed green line is bullish, the main is stocks participation whether to the downside or upside.
Look at $VIXY, volatility is increasing, day trade mode
Keep scanning. Im ready both side.
Key is to protect whatever you have at the moment.
$QQQ market future gapping up, can it reclaimed previous support or it just another breakdown and retest?
USD index also about to breakout, only stocks participations will prove..
Is this theoritcally true?
Sell stocks -> Move into cash -> Buy USD/Treasuries
$UEC landing to the wrong moon.
Going through to the gainers and losers, market still in outflow overall. Need some catalyst to lift them up.
Lack of follow through, $qqq still below 5ema daily, geopolitical instability, etc.
But this? It is a despair.
Nonetheless, 200sma n 50sma is around the corner. Bulls need to hold those lines.
Otherwise how AI going to be powered by solar panels and renewable energy.
$ENPH
I'm in the new Market Wizards book!
This book series was a huge inspiration and motivation when I first read them in 2011 when I was struggling and being included myself is a massive honor, thanks to @jackschwager and @gfc4!
I'm also very lucky that I found two trading communities early in my journey @PradeepBonde and @IUTraders that in hindsight turned out to be Market Wizard factories!
Some thoughts and little story time!
$QQQ two unfilled gaps off the highs and clean intraday short setups following through a classic sign that the tape has shifted
The price action reminds me of the blow off in July of 2024. Had huge euphoric extensions in the top semis and the Nasdaq ended up correcting -15% in just a few weeks
Never underestimate how quickly the market can move lower after structure is broken. I remember everyone trying to buy the lows the whole way down in July '24 in fear of missing the next big move higher. At the time nobody had thought the market would correct that much, that fast, but it did.
Even though the short-term trend has flipped, don't get married to the short side. I shorted the July 2024 correction to perfection, with leverage as well. Caught the entire move down and went on a personal record breaking run. Not only were the speed and size of the gains so intoxicating, but capitalizing on the huge downside move while everyone else was offsides left me feeling invincible.
After the market capitulated in August and turned back up I continued to look for re-shorts the entire way up, searching for that next big down move again to send my equity to new highs. Before I knew it I have all my profits back and then some... I also missed all the opportunities to the long side that followed in Q4 that year because of drawdown. I was demoralized.
Only bring this up because the structure of this downside turn so far reminds me alot of the July 2024 cycle. Moral of the story, never get too comfortable to the short side, especially with leverage. You make your profits incredibly fast and feel very smart, and that feeling is the single most dangerous state a speculator can be in!!!
As PTJ famously said, the second you start to think you are very good, you are dead...