If monday's rally is the second dead cat bounce, we can expect few quiet days followed by a third drop in Growth Tech stocks and rise of oil and inflation fear, thanks to market manipulation and the FED, whom says still today, there is no inflation.
We have seen this many many times...
So the inflation fear would be going for a while which would calm down this over heated casino, made by the FED's QE.
I am using my old chart, we see
1. it touched 200 EMA line; In theory it should touch it (33) again for a confirmation
2. if we take a period of a year range, NIO from 4 to 65, if we consider a 50% correction, where we would expect it to fall?
Why?
Because EVs are way overvalued, there are more than 100 spacs out there, the invisible hand of the market needs to clean up this mess...
Should we getting into the market right now? just too much short speculation are going on. We small investors should be aware of this.
In fact, I think even this correction is unhealthy, I think bigger playas are just dumping and shorting all EV, SPAC and everything starting 2 weeks ago. They have missed the EV rally, now they are shorting it to make profits, and so they can buy it dirt cheap...
Wait for Powell to speak, and everything will down again, just MHO
We have seen this many many times...
So the inflation fear would be going for a while which would calm down this over heated casino, made by the FED's QE.
I am using my old chart, we see
1. it touched 200 EMA line; In theory it should touch it (33) again for a confirmation
2. if we take a period of a year range, NIO from 4 to 65, if we consider a 50% correction, where we would expect it to fall?
Why?
Because EVs are way overvalued, there are more than 100 spacs out there, the invisible hand of the market needs to clean up this mess...
Should we getting into the market right now? just too much short speculation are going on. We small investors should be aware of this.
In fact, I think even this correction is unhealthy, I think bigger playas are just dumping and shorting all EV, SPAC and everything starting 2 weeks ago. They have missed the EV rally, now they are shorting it to make profits, and so they can buy it dirt cheap...
Wait for Powell to speak, and everything will down again, just MHO
Note
it is under the 46 resistance lineNote
The correction continues, it is now under 40
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.