Interesting! Love that stat. Yes, we have a long way down before the 200-day SMA is even reached. Lets see if it holds if and when we get there. If the 200-day fails soon we will have our answer and I will not be bullish anymore :)
PCE tomorrow. Let’s see what happens… yeah you were right about the profit taking. The TOP10’s all experienced giving back the after market/ premarket pops quite a bit. Most notably Microsoft, TSLA. Interested to see where we go! Would love a retest of the 200 with a strong bounce in the next week or two! MSFT just can’t hold anything solid!
Absolutely fantastic post! I’m still pretty cautious! but definitely taking small positions in NVDA and AMZN.
Thanks for the support Russ!
4/4 times SPY has gapped over the 200 and 50 simultaneously have lead to declines over the next three months. I’m cautiously bullish with you though!
Interesting! Love that stat. Yes, we have a long way down before the 200-day SMA is even reached. Lets see if it holds if and when we get there. If the 200-day fails soon we will have our answer and I will not be bullish anymore :)
Looks like the October 1999 Gap was over the 200-day SMA and 50-day EMA and it was higher 3 months later....
PCE tomorrow. Let’s see what happens… yeah you were right about the profit taking. The TOP10’s all experienced giving back the after market/ premarket pops quite a bit. Most notably Microsoft, TSLA. Interested to see where we go! Would love a retest of the 200 with a strong bounce in the next week or two! MSFT just can’t hold anything solid!
Yup both MSFT and TSLA in downtrends, so they are going to be slower to recover. No relative strength there. In a downtrend rips get sold.
Love it man! Great post
Thank you Jake!