Top of the Band Top of the World Toppy Top
Updated
Yeahhh wowww... moved wayy beyond any expectations.
So insanely booleesh, face-ripping bear-killing rally from Hell.
How long can it go on?
Double topped RSI at 80%, see arrows. Top of the Bolly Band.
Explosive blow-off style rally to massive new ATH for SPX, NQ.
Might have another day or two in it.
Notice that DJI already topped at 40K and RTY has barely moved... divergence, goes back to Dow Theory, non-confirming.
This rally is almost entirely driven by the Mag 7, tech and AI froth.
Chasing it here is unlikely to be profitable IMO.
Gonna get some kind of pullback in back half of July. Think about closing longs. Shorts might print finally. GLTA
So insanely booleesh, face-ripping bear-killing rally from Hell.
How long can it go on?
Double topped RSI at 80%, see arrows. Top of the Bolly Band.
Explosive blow-off style rally to massive new ATH for SPX, NQ.
Might have another day or two in it.
Notice that DJI already topped at 40K and RTY has barely moved... divergence, goes back to Dow Theory, non-confirming.
This rally is almost entirely driven by the Mag 7, tech and AI froth.
Chasing it here is unlikely to be profitable IMO.
Gonna get some kind of pullback in back half of July. Think about closing longs. Shorts might print finally. GLTA
Trade active
First dump. Look for a pump then deeper re-dump. All out, wait and watch.Note
Wow look how MMs move money from NQ to R2K, IWM +$6, this seems to be a recurring pattern, shoulda bet on it grrr!Note
whaddadumpzomgNote
NQ gave up three days of gains in three hours, it was real toppy up there eh?! NOT chasing, see if it bounces.Note
And here's the rip. BTFD. Double topped. Opened SDOW SPXS SQQQ. Next dump will be for real imo.Note
Fearless greed is truly astonishing. Nuts!Trade active
Shorted SPX 5660, QQQ 500. Astonishing rip, but rejected.
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.