Posting a quick update here on SQ as buyer volume finally picked up and SQ closed the day breaking above strong resistance at the $68.84 mark while also reclaiming its 20-Day EMA. SQ has been trading sideways for quite some time and is seemingly breaking out of this falling wedge heading into earnings on 9/22' and with quadruple witching this coming Friday....
looks like margin call ? i hope no lol, better take the day free today
This is going to be longer than usual because there are a lot things I found going on in our current market condition, as well as reasons to explain why the accelerated sell off occurred on Friday. I will discuss inflation, key ratios within the S&P 500, quadruple witching day, options flow, Meme Stocks, and psychological factors. I hope this helps show direction...
9-14 thru 9-18 market overview - catalysts, economic calender and news.
Uber rallied 38.26% merely on the CEO's call to investors today. The CEO cited that UBER has enough cash to last throughout this crisis even though no one is certain how long it will last. I'm confident this COVID-19 crisis will last through the summer and transition into a recession. Also, Uber estimates 60-70% loss of revenue since this crisis began. Uber has...
We have another quadruple witching date coming up next June. This is when all three classes of options expire (stock, stock index, and stock index futures options) along with single stock futures options. I plotted all the previous QW dates with green arrows. As time goes on, they seem to be indicative of market tops and bottoms (most notably 2015-2016)....