Let's forget the ticker and look at the chart.
The pattern is visible and suggests we are running toward the end.
At the end of the pattern, we see failure and price downtrend.
What I find alarming is that SPY, GOOG (GOOGL), SMH, and QQQ all look at the same spot.
VIX (VIXY) is all time lows.
Something is going to happen swinging things in the other direction. I am not a bear. I am a realist.
I will post an update to QQQ with closer view of current price action.
We are NOT at the total end of the pattern yet....so there is time to watch, plan, prepare, and execute.
We watch - to see if price breaks below current white ascending wedge around $189.
We plan - to enter short position, write calls, or buy puts when this happens.
We prepare - by researching the cost to enter, getting funds together, and watching price movement like a hawk.
We execute - our plan, trying to get filled as close to goal as possible, and watch for movement to increase position or exit (profits or failure).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY
Short SPY and AAPL.
The pattern is visible and suggests we are running toward the end.
At the end of the pattern, we see failure and price downtrend.
What I find alarming is that SPY, GOOG (GOOGL), SMH, and QQQ all look at the same spot.
VIX (VIXY) is all time lows.
Something is going to happen swinging things in the other direction. I am not a bear. I am a realist.
I will post an update to QQQ with closer view of current price action.
We are NOT at the total end of the pattern yet....so there is time to watch, plan, prepare, and execute.
We watch - to see if price breaks below current white ascending wedge around $189.
We plan - to enter short position, write calls, or buy puts when this happens.
We prepare - by researching the cost to enter, getting funds together, and watching price movement like a hawk.
We execute - our plan, trying to get filled as close to goal as possible, and watch for movement to increase position or exit (profits or failure).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY
Short SPY and AAPL.
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.
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.