On The Edge

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[On The Edge @ontheedge70]

@ArchitectIncome QQQI, SPYI, XQQI, TDAX, which fund is the most tax friendly? My Roth is funded for this year so have to put money in a taxable account.

[Scott Redler @RedDogT3]

📺 OVERBOUGHT MARKET… BUT STILL HIGHER?

We had a massive V-shaped rally from the bottom, going from ~$629.29 to ~$694.50 in $SPY. This kind of move typically catches people off guard and leaves many underexposed.

As I mentioned previously, the real turning point came around April 2nd, when the market held up despite rising #crudeoil, sellers lost control, and a higher low formed, confirming strength.

Then key technical triggers: an inverted head-and-shoulders pattern, gap-ups with no easy entry, and a break above the ~$671.50 level, which led to a strong continuation.

This was a high-momentum, institutionally driven move, not a weak bounce as everyone initially thought.

*

This rally wasn’t narrow — it expanded across various sectors:
– Early leaders like memory stocks ($SNDK $WDC $STX and even $MU) and semiconductors ($DELL $MRVL);
– Then rotation into Mag 7 names $GOOGL $AMZN even $META → “repair rally”;
– Then further down the food chain: smaller names $IREN $CIFR $NBIS, even Bitcoin-related names like $HOOD.

This is important: when leadership broadens like this, it usually confirms a healthy uptrend, not a dead-cat bounce.

*

However, the market is now extended: oscillator at +75, which means overbought. This is now Day 8 of the move. It’s hard to buy up here.

I even started hedging, though it cost money (the trend is too strong).

Ideally, we want markets to go sideways, let moving averages catch up, momentum to cool off, and new setups to form.

After a move this strong, continuation is more likely than collapse, but it needs a pause.

*

So, we want this today:

– $SPY around ~$693. Ideally, we want a small pullback or sideways action, then continue higher.
– $QQQ huge move back into resistance. Ideally, we want it to hold here and form a bull flag.

*

So, this is a powerful, broad-based V-shaped rally. The market is overbought short-term, but bullish structurally.

Most likely path: pause / sideways consolidation, then higher highs in the coming weeks/months.

Don't fight the trend or wait for a perfect pullback that may never come. Stay involved, manage risk, and be ready to act quickly.

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[Steve Ferguson @lsferguson]

Hey Senator @ChuckGrassley! Why did you vote to spend 5.7 billion dollars on welfare for refugees?
Inquiring minds want to know!

[On The Edge @ontheedge70]

@DevotedDividend QQQI next would be SPYI

[On The Edge @ontheedge70]

@GhostOptions_ Options flow

[On The Edge @ontheedge70]

@vulturetrades Signal

[On The Edge @ontheedge70]

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[On The Edge @ontheedge70]

@RetireonDividen 8 put 8/1 - paid 49

[On The Edge @ontheedge70]

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[On The Edge @ontheedge70]

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[On The Edge @ontheedge70]

@RetireonDividen STO 7/18 $11 P @ 85