M C
824 posts

M C
@MostlyBitter
"You can't drink a baseball" Bob Uecker




$XLF nothing new - and don't forget this fugly H&S on my chart is NOT my base case (jsut to show current structure....and I still think it gets negated and we go higher....


$DJT (Transports not Trump Media) Still in this nice Sexy high tight flag


$WTI spot on...and more room above as it follows the war mongering...I would love that DTL above as a likely good entry for short (revisit if/when it gets there)


$ES $SPX $SPY Updated....We lost the 6885 level we needed to stay on 'path' - Candle structure now looks more and more like the pre-April meltdown we saw earlier *but* i'm not in the doomer camp...two levels I am watching....my base case is another 1 1/2%ish down and then can return to the grind higher in March...but another 2 1/2%ish wick to bottom of my channel also possibility....level to level...Open mind


$QQQ only because we are still holding top of channel re-test I have left my path intact - however because the MAG 7 look lower still (see charts latter this weekend) I have low conviction this plays out...more likely we visit the dashed line below...open mind


$XBI 'path' (see earlier comments nothing new to add)


$SMH 'path perfect' but as noted a few weeks ago...wicks and tails starting to appear...leads me to believe more sideways chop (wicks and tails) as money continues to rotate away from tech and into defensives ...doesn't mean bearish...pause that refreshes (?)


$DJI Tagged my 'path perfect' top we drew out months ago - moved path forward as we're still riding that beautiful multi-month ascending wedge ONLY if lost would it open the door to earlier channel top breakout below (red arrow)..and that's less than 2% lower...boolish (either way)


$DJT (Transports not Trump Media) -still boolish look and nice long tail...adjusted my flag to reflect current candles...


$MSFT if I am correct that $IGV will try to base shortly then perhaps the flag doesn't resolve bearish and MSFT can base as well....open mind to either but lean bearish MSFT fwiw


$QQQ VS $IGV <---- Will be doing a deep dive on Software sector this weekend...make sure to turn on notifications so you don't miss it (*hint* I think we're bottoming and within your tech. investments you might want to rotate some $$ in here)






