Block, Inc.Short
SQ short
After 10 months of endless rally in the US tech sector of equities, some surpassing 1000% returns in that period, it is time for the house of cards to collapse
One indicator no one is watching in equities is the fact that BTCUSD has topped & is now showing us the route forward which is down.
I expect this downturn to make March look easy.
I do not know what the fundamental catalyst will be this time, last Feb/March it was Coronavirus lockdowns.
This time around I'm expecting some sort of black swan to take hold & erase 10 months of gains in a few weeks to a months time.
Equities have become a giant game of musical chairs. Everyone is waiting for the music to stop (FED to stop printing, PPT stop plugging, etc.)'
My reasoning behind picking SQ is I had a lot of success trading it in March last year, I know how it trades.
Given it's current monthly candle stick, if we close anything like this this week, SQ should give up about 60-80% of it's value over the next 2 months (February & March) as buyers at certain levels will be smashing the sell button like a money.
The Daily, 2D, 3D all appear to have formed a nice top here in SQ, no new highs & rolling over
One indicator no one is watching in equities is the fact that BTCUSD has topped & is now showing us the route forward which is down.
I expect this downturn to make March look easy.
I do not know what the fundamental catalyst will be this time, last Feb/March it was Coronavirus lockdowns.
This time around I'm expecting some sort of black swan to take hold & erase 10 months of gains in a few weeks to a months time.
Equities have become a giant game of musical chairs. Everyone is waiting for the music to stop (FED to stop printing, PPT stop plugging, etc.)'
My reasoning behind picking SQ is I had a lot of success trading it in March last year, I know how it trades.
Given it's current monthly candle stick, if we close anything like this this week, SQ should give up about 60-80% of it's value over the next 2 months (February & March) as buyers at certain levels will be smashing the sell button like a money.
The Daily, 2D, 3D all appear to have formed a nice top here in SQ, no new highs & rolling over
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