It's not a matter of could.. anything can happen true
It's a matter of probability, market structure & sentiment
The QQQ had massive volume on Oct 5th, sentiment is terrible and NVDA crashing etc.. majority of people calling for a bear market
But the QQQ is back above a rising 200 dma and found support today on a backtest
Probability is that the bottom of this decline is in and now a bullish bias is what traders should have , not a bearish bias
AAII Sentiment Survey is now at 51% Bears after being in the 40s for 2 straight months.
Sentiment is terrible and market is only 3% off the highs.
All the sideways action since June is wearing out investors - the setup is there for the Market to breakout to new highs if it wants
BITCOIN - DAILY
Bitcoin finding buyers at the 200 dma for the 2nd day
RSI (5) still has a positive divergence building
Sept 22nd was a higher high
If Bitcoin can find a bottom here we think $90K next
NATGAS - DAILY
Reversion to the mean.
Last three times UNG was 10% or move below its 50 dma
It had sharp rallies back there over the next few weeks
$UNG
OIL - Daily
On Nov. 3rd when OIL was at $96
We warned of the trend line break and gap fill to occur at $84.61
Target hit yesterday
Hope you all banked $s with us
@Ross__Hendricks When the public/investors are "piling into" anything , they are overwhelmingly wrong.
And if this is true then there is an even steeper leg to come for semis and the market overall
@DougKass It is ridiculous - Do you have a crystal ball that predicts when the worst days of the year will be ?
If this was a viable strategy it would be in use.
History proves that investors who try to time the market underperform those who don't.
@DougKass@RyanDetrick This is ridiculous
1. Those "hedge funds" getting blown out are leveraged and clearly aren't Hedged - so they are just junky alpha chasers
2. If you are trying to avoid the worst days in the market then you won't be invested in the market at all.
If this passes that will be the time to get ready to exit the market
The economy is propped up with Credit Card debt
A 10% cap and millions of people will no longer get credit
And millions more will have their limits reduced.
Spending will come to a halt
Game over
Elizabeth Warren on CBS this weekend, about capping credit card interest at 10%: "I got the bill. I'm ready to go."
Trump called for the exact same cap in January. It never happened.
Now Democrats control Congress, Warren is set to chair Senate Banking, and the president already said he wants it.