$QQQ #bottom This could be temp bottom for a short term rally to start now at 576. This is Tariff low AVWAP touch, 50W MA touch, and Fib support. if this breaks, we may be going to 455ish for a bear market which would be covid low VWAP and big Fib support.
Major cheat code in life: learning to separate the message from the messenger. Bad people occasionally give good advice. Good people occasionally give bad advice. Evaluate the content.
I think we are at temp TOP. may be 10%correction from here in next few weeks. ES ~7580...
6900-7000 (backtest of previous ATH) wouldn't be bad to have Q4 rally to 8k
$QQQ/$DIA divergence happening
$SPX, $QQQ, $DIA
Back in the 1960s there was a company called National Video. They made color television picture tubes, and were the first to produce a 23-inch rectangular color TV picture tube. It quickly became the industry standard, and every major TV set producer scrambled to get their hands on National Video’s picture tubes. They literally couldn’t make them fast enough.
The stock went from a low of 15 in 1964 to a peak of 120 in October 1965. The final 70 points came in just the last few months.
Eventually, though, the Motorola’s and Zenith’s of the world produced their own color TV picture tubes. They didn’t need National Video’s any longer.
The stock went from 120 to a low of 40 in 1966, 15 in 1967, and then to zero in 1968 as the company went bankrupt. The poor thing couldn’t even make it to the Go-Go years.
In those days, Mueller and Company produced tick volume charts. National Video’s chart depicted the stock going from Northwest to Southeast in a straight line while the tick volume line went straight up.
The stock was a fundamental short. In those days, short sales could only be executed on an uptick. Which meant the whole world was always offered up an eighth.
Oh, National Video’s ticker symbol? NVD.A.
This story is true, but any resemblance to any other companies is purely coincidental.