Loading ...The “Hook” Is Set
The FAANGS and probably the whole stock market are set up for a possible crash the rest of this week. Using Tesla as the hook, the NASDAQ was squeezed to within 20 points of it’s high, while the NDX actually traded at a new intra day high. The rest of the major FAANG components release their earnings, today, Thurs. and Friday. Some may be OK, but others won’t and like Facebook, even doing a $50 billion share buyback won’t help them. They are toast and I look for a bloodbath.
Yea it all looks pretty textbook classic.
Wicked TSLA blow off top. Gap up yesterday followed by panic retail FOMO buying and institutions using the opportunity to exit into it.
https://stockcharts.com/h-sc/ui?s=TSLA&p=D&yr=0&mn=8&dy=0&id=p28520836866&listNum=51&a=1050405560
After this crash, it will be “blamed” on the Billionaire tax! Always need an excuse, even when the charts told us in advance.
Won’t this crash rain on your ATCX parade?
No, most stocks will fall. This chart and the value underneath make this low risk, high reward. Don’t be surprised to see them get bought out eventually.
I Hope You Guys are right…This is pathetic watching all this shit go up forever and ever..BUT I Doubt there will be even a mild correction…it’s the Crack Up Boom
These Markets are so detached from reality it’s beyond ridiculous
I can see a quick double from here…Hope I am way wrong
“I boubt there will be even a mild correction…it’s the Crack Up Boom”
Yes to the later. But I do see the potential for a Bear move soon, turning into a Bear trap.
Beginning as soon as next week or perhaps sooner with a late Fri hint, if they follow past scripts.
That bear move has been in the cards for awhile, and hasn’t shown up yet.
Maybe this year its Red November instead of Red October.