$HOOD rips 50% and bulls are still in trouble.
Let me explain.
Big rally today. Just like we talked about.
Now zoom out. Find the broken support levels. A REAL bounce should at least test those.
$META barely moved though 👀. My $HOOD ripped ahead of earnings. $IGV stayed strong throughout.
But here's the thing.
$HOOD needs $110 to reclaim its trend. A 50% rally off the $70 lows doesn't even get there. $PLTR can run from $125 to $165 and only be retesting broken support. $SOFI can bounce 40% and still not be back in its uptrend.
50% bounce. Still not back.
That's where we are.
These moves are absolutely tradeable. This is exactly the counter-trend rally I talked about. Traders FEAST on these. $SPY doesn't give you 30-50% in most cycles. Individual names do.
The difference? Knowing how to use the sell button...
New traders ride these all the way up and all the way back down. They mistake a bounce for a bottom.
If or when we hit these levels, expect pullbacks. Stocks don't usually move in straight lines. If we start making higher lows, which is what needs to happen. Then we have both lower highs AND higher lows. That's not a V-shaped recovery. That's chop.
$QQQ making new all-time highs next week is the only thing that changes that.
Strap in.
COINBASE CEO SAID LIVE ON FOX:
BIG BANKS ARE WORKING BEHIND THE SCENES TO BLOCK THE PRESIDENT’S PRO-CRYPTO AGENDA.
THEY WANT TO SLOW DOWN ADOPTION.
THEY WANT TO CONTROL THE SYSTEM.
THEY WANT TO STOP CRYPTO.
THE FIGHT IS REAL 🔥
I know I’m asking a lot run this up to 50 likes 20 comments 20 reposts and I will live chat some charts and run my thoughts on what our next move is and where we need to pay attention as far as levels go.
You have 2 hours otherwise I’ll just post charts for now and do the live tomorrow.
6 months ago, Raoul Pal said we are in an elongated business/debt cycle and that bitcoin would climb higher and then we would see a -35% drawdown and “everyone will be sure that it is over… and it won’t be over.”
You need to watch this again.