Last week, I expected Powell to crash the market during the FOMC meeting and expected a double top at 4100. Now that S&P has broken the crucial resistance, it closed the week with strong green candle despite the correction due to NFP last Friday. Apple, AMD showed strong price action despite the bad earnings. AMZN, GOOGL went down due to bad earnings. I flipped...
This is 1 year chart.
The Nasdaq has been overbought in term of RSI and upper Bollinger overshoot
Short until 1 year mid bollinger around 5.8k to 6.3k
We now have crypto bubble burst (Bitcoin won't vanish but the price will go down significantly), tech bubble burst, unprofitable company bubble burst
The Fed may start being dovish, but the focus should shift to...
Rising rates, unprofitable tech companies bubble burst. There are similarities with the condition in year 2000
Monthly MACD cross, Monthly RSI broken down. The ONLY buy point for long term stocks investor is at Monthly MA 200
The great reset is happening
You may think the bottom is in at monthly MA 50. Nope, it will go down even more. The nasdaq now is in dotcom bubble bursting phase and it will bring down BTC to low pandemic in 2020
Recently, bitcoin has similarity with nasdaq (most of the time). The Fed will rate hike until end of year. It will bring tech stocks , crypto, and other global stocks to a great...
