Loading ...Racetrack speculators- Time to short the Q’s?
Maybe. I dipped my toe in using the QID. Certainly not a safe short since I am trying to short it right off the top. So its on a tight lease.
Here is the 2 hr and the daily. Also look at the Ultra Vix on the 15 min
Not using the rule book on this one.
PS the four Horseman are ready to give their blessing:
MACD has crossed zero on the daily.
I watch SMH for tech clues. SOXS in this case.
On my system QID is a long ways from a sustained turn. A corrective play should be near though.
Most EW folks – and I’m with Avi on this one – see us needing a series of 4/5 unwinds. The last being larger and possibly tradable.
But 4’s are notoriously untradable as a rule.
On my monthly relative trend indicator QID is at -3 (it seldom gets this deep) and on weekly at -2 (same) where turns usually require levels above -0.75 to be in range of a bullish flip that confirms at zero.
I’m also suspecting that smallcaps via TZA will flip ahead of tech.
VOLs like VXX have covered some ground recently. So it is time to be watching for more bearish action in equity indices.
My hunch is that the “tax cut” carrot will remain dangling out there for months yet. And it will be sell the news or disappointment .. only then.
Totally agree with everything you just wrote. I agree that the QQQ has a long way to go before a trend change. I am just trying to trade a little correction wiggle. RSI indicates the beginning of the loss in momentum. Also yes IWM is weaker.