ridethepig | Nasdaq Correction Forming
Updated
📌 The point of this configuration is that the highs have been lost, since the effectiveness (right..) of the stimulus and the extension above that has NOTHING to do with fundamental or economic reality.
This influence can be seen in DAX which cannot make use of the highs. Secondly, there is the threat of Covid and Brexit. In other worst, the risk which triggered the dominos has not gone anywhere despite the political fairy-dust around re-openings. The underlying structural weakness in the economy is profound, masses are cheerleading back to normal while millions remain unemployed. This illustrates the fearlessness of retail.
We must now test the lows / support in global equities into U.S. elections and into 2021. This stimulus can be regarded as having come to nothing, and the conjunction of re-balancing worked very well for a handful of individuals. Mortalities are reaching all time highs in many U.S. states, ICU beds are reaching full capacity and showing no signs of abating. Policy mistake after policy mistake.
Thanks for keeping the feedback coming 👍 or 👎
This influence can be seen in DAX which cannot make use of the highs. Secondly, there is the threat of Covid and Brexit. In other worst, the risk which triggered the dominos has not gone anywhere despite the political fairy-dust around re-openings. The underlying structural weakness in the economy is profound, masses are cheerleading back to normal while millions remain unemployed. This illustrates the fearlessness of retail.
We must now test the lows / support in global equities into U.S. elections and into 2021. This stimulus can be regarded as having come to nothing, and the conjunction of re-balancing worked very well for a handful of individuals. Mortalities are reaching all time highs in many U.S. states, ICU beds are reaching full capacity and showing no signs of abating. Policy mistake after policy mistake.
Thanks for keeping the feedback coming 👍 or 👎
Note
Note
Heads up.. US10Y flirting to breakdown and trigger the dominos in equities:Note
Very little to update here... sadly virus escalating out of control and NQ trading +20% above its DMA.Still no fills on the position @ 10500, we will leave it pending this week incase we get the gravity reset, otherwise we can look to open a new position with fresh levels.
Trade active
Note
Tracking 10,600 for the closeNote
Stops are starting to look vulnerable here for jobs data later this week, a very important NY session for 11,100.Trade closed: stop reached
Updates here after stops failed the hold the light summer liquidity squeeze. This one will be painful if we turn into September on time for the election cycle, we can re-open the US and Global Equity charts this week for another attempt.
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