ericklee64

ericklee64

The indices were unable to sustain a rally up until the last few minutes before close. I must confess, I got the shit beat out of me today, after 13 prfitable days in a row. I tried to go short, then long, then short and what a nightmarish day. As I reflect on the charts, I got sucked in all the way around. It was slated to be an up day, having been oversold...

ericklee64

The three decade + trend for bond rates has been downward. In June, we witnessed the first rise above that trend line in recent history, followed by a return to the trendline last week. This is a pivotal point for both bonds and stocks. If stocks drop back down below the trendline, we can see the market go higher in the near term. If the 30 year bond rates...

ericklee64

The bull market continues for the past 7 weeks. For position traders, we may be near a top to take a short position. On an intraday basis, i will buy dips as long as buyers continue to show the conviction to take this higher. As we near the pivot point, as shown by the blue line in the chart, pay attention to buying strength vs. selling fear in the price...

ericklee64

In spite of all major economic indicators showing a rapid decay of conditions and inflation showing no signs of letting up, the market continues its rally, now into its 7th week. Nasdaq investors seem particularly focused on buying, even under selloff pressure. This is what I call a zombie market. It's hard to wrap ones head around why the market continues...

ericklee64 Updated 

For futures traders, this trade involves shorting the nasdaq in anticipation of a resumed down trend tomorrow. While I do not like to present entertaining suggestions for overnight futures positions, due to low volume price volatility and potential manipulation at night, one could take a short position after the futures market opens at 6 p.m. Understand that...

ericklee64

Fundamentals are as bad as they can be. Trend is firmly down in Nasdaq with what should be fewer investers looking to buy the dips. However, the market hasn't given up yet. We are close to larger losses, particularly with continuing inflation concerns, real war possibilities for Nato, fallout from sanctions to our own economy and what seems imminent recession,...

ericklee64

The nasdaq has enjoyed two days of recovery from the down trend. My bias has been to the short side of the market for a few months now. A major support area as seem by the vertical line on the day chart should provide a good area to go short. However, make sure to confirm this by a technical reversal signal of your choice, or a visually large and deliberate,...

ericklee64

Whether you wish to use QQQ or /NQ short Nasdaq at the value now 15045.88 up to the hi of 15068 (/NQ), I predict that the Nasdaq will be lower in the morning than it is now, before the Consumer Price Index is published at 8:30. Its anybody's guess as to if the Nasdaq will drop precipitously after a poor report showing inflation is continuing to rise. This is a...

ericklee64

fords long term trendline is bullish since the start of covid, and the tred became steeper that past several weeks. ford may be ready to reach new highs, approaching 10.00 in the next month. It isn't Tesla, but not as risky either. Don't buck the trend. The trend will show you where the money goes. by it at 8.88 - 9.00 per share, while you can. With oil...

ericklee64 Updated 

Huge sell off is drying up, after Securities Exchange Commission announcement of law suit against Ripple. Level above .26 meaningful as it stays above the one year trend line, and the price has maintained within a small range above .25 for the longest time in the last 24 hours when the bulk of the sell off occurred. There is much more sky than there is below...