NFTRH+; With AAII & II sentiment in the dumps…

Considering the flat out epic over-bearish AAII sentiment reading and the nearly as extreme Investors Intelligence, I decided yesterday to give this chart from NFTRH 702’s Market Sentiment segment a nod by adding QQQ. Of course, it’s just a man staring at a chart and imagining a bullish pattern. But the market is so psychologically intense that I find myself not at all sure that … Continue reading NFTRH+; With AAII & II sentiment in the dumps…

Look at Those Shorts! No, not ‘Those’ Shorts…

[edit] I took the profit. Why not? My apologies in advance about the featured image. This one popped out at me for some reason that I can’t quite put my finger on as I innocently searched for images of shorts. Anyway, look at those shorts cover into the close. QQQ is one thing I bought on Friday for a would-be bounce. It’s filling a gap … Continue reading Look at Those Shorts! No, not ‘Those’ Shorts…

Man Who Stares at Charts Sees Gaps Filling and a Symmetrical Pattern on SPY

It’s gap fill time in the US, as you can see by the following charts that this man who stares at charts presents for you today. Personally, I have done well with story/growth stocks this year but have taken a beating lately, trying to bottom feed new positions. Turns out their bottoms were significantly lower still. Regardless, all trading – long and short – has … Continue reading Man Who Stares at Charts Sees Gaps Filling and a Symmetrical Pattern on SPY

QQQ Bear Flag?

This is my largest single equity position. That’s the qualifier. It is bouncing as expected per our 60 minute charts reviewed each afternoon lately, but… Let me tell you what I don’t like about this daily chart. I don’t like the wedgey looking upward flag combined with the declining volume. I also don’t care for the down-turned (to a degree, anyway) SMA 50 below which … Continue reading QQQ Bear Flag?

If the Machines Liked Tech on Thursday, Mustn’t They Love It Now?

Backing out all of the information we think we know like persistently over bullish sentiment, over valuation by many metrics, including the Citi Economic Surprise index and Yardeni’s home cooked fundamental stew, margin debt rising to new highs and big picture overbought status… taking all of that out of the equation on the stock market in general, QQQ in particular is at what someone who’s … Continue reading If the Machines Liked Tech on Thursday, Mustn’t They Love It Now?

alice, nftrh

NFTRH+; Tech Bear Trade (QQQ or Leveraged Funds)

With the preamble that cash is the best position as risk rises (which it is doing as the market bounce continues and VIX sinks further) and that the FOMC is a big wild card in the markets this week, here is what looks like a setup in the making in tech, using QQQ.  This is for those who are bearish or want to hedge long … Continue reading NFTRH+; Tech Bear Trade (QQQ or Leveraged Funds)