Yet, at the same time that they make that argument, they completely ignore what the Dow Jones did in October, which was no less than a 4,300 point rally forming an outside bar.
Dow has always been the weakest index. It fell farther during Coronavirus Disease 2019 hysteria. It rallied less during the greatest bull market of all time. It dumped more during this year’s corrections.
Yet, the Nasdaq and the SPX have lagged it, and lagged it hard, during last month’s 2022 Low of the Year recovery.
This should have any bull’s interest piqued, and yet, because prices are low, they’re not. People just want to get short. Everyone is telling you to look below October’s low.
Sometimes I think to myself that people actually like buying high and selling low, if only because they’re just very attached to “seeing” and “confirmation.” Ordinary people all follow this idea that “I won’t believe what I don’t see” and are completely unwilling to exercise even a modicum faith.
It’s fundamentally irrational.
Yet, if you never change this deficiency, you will never be able to leave the bottom of the Cosmos and the bottom of life. The whales will always eat you, for you will always be plankton.
As with all fractals, take a step back and look at the wider horizon. Nasdaq would have to fall another 10% from its October LOY to bounce off the pre-COVID highs, something which that pesky Dow already did in June.
Not only that, but Nasdaq left two really significant areas of low volume on its way down this year. One of those areas just happens to be right above the August bear market rally highs.
Taking a look at the weekly, we can see that for six straight weeks, Nasdaq trades under equilibrium for the total COVID-panic <–> all time high range.
When people who are trading billion dollar position sizes take a look at this phenomenon, they’re looking to get long, but hedging short. Unlike retail, who wants to buy puts thinking that 6,000 will come on CPI Thursday.
On the daily, we can see that there’s a lot of manipulation around this trendline superstition. “Meh June low trendline support has become resistance. This is going down!” is what every retail trader has been Pavlov’s Dogged into believing and thinking.
Nasdaq tends to be the most wild of the indexes. If Nasdaq had have traded like the Dow just did, it would have traded to 13,000 points.
Assuming that SPX and Nasdaq follow in the footsteps of Dow in this bear market rally, and don’t kid yourself, Friday’s price action should indicate to you that we’re going higher, not heading for new lows, Nasdaq is likely to be more insane than the Dow, and very likely to take out the August bear market high.
While all and all I believe you’re looking at a pending 30% rally, from where we stand now, you have 1,000 points to gain being long just to take out the October equal highs. This is enough to formulate trades with and make some good money on without having to take on a lot of risk.
Specifically, some of the key (and not-so key) tech stocks are set up to go totally rocketship. At least in my opinion:
AMZN Amazon – Realistic Expectations In Both Doom and Gloom
META Facebook /Meta – Too Much Bear, Not Enough Bull
BBIG Vimco Ventures – A Classic Triangle Pump
Trade carefully. When the Chinese Communist Party falls, it will happen while the US equities market is closed. Indexes will gap down 20% and stocks will gap down 50%. There won’t be a recovery because every single bank will be completely risk off.
Almost all of Wall Street has dirty hands providing financial “blood transfusions” to the most evil and murderous regime in all of human history, one which despite having killed many times more people than Hitler, and having perpetrated the organ harvesting persecution of Falun Gong practitioners, has not only remained in power for more than 100 years, but it and its Marxist-Leninism is supported by virtually every government and its people in the whole world.
A lot of people, institutions, governments, and companies will run for their lives the day that Xi Jinping throws the Party away like Gorbachev threw the USSR away, because the nature of having a closet full of skeletons is that once sunlight is cast upon those unprecedented sins, the game ends in Checkmate.
“What an ordinary person believes can happen and what is actually happening are always two totally different things.” -Lord Wrymouth
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The post Nasdaq NQ – Unpopular Opinion #2,118: 14,000 is Coming for CME_MINI:NQ1! by LordWrymouth appeared first on WorldNewsEra.