$QQQ The market has spoken. "As goes the first week... so goes the rest of the year" is a rule of thumb on Wall Street. So how did the first week go? Began with a bounce and ended with a plunge on the heels of the Fed minutes release. This is a very precarious, high risk moment we are facing if you are long equities. As the chart below indicates, we might have just witnessed "The Classic Last Chance to Sell before the Crash" Could see lower lows continue as "all boats sink with the tide" $SPY $IWM $AMRN
@Forklift5909 @LongBacon Significant turning points require 3 things: 1- blind, over bullish sentiment (you) 2- over valued (fundamentally)/over bought (technically)market 3- a pin (the fed rug pull was just announced this past week) Buy the dippers will continue to step in and risk more until the bottom falls out. Their purchases are the upticks that provide endless shorting opportunities - just like the inverse to what has happened the past 13 years. Welcome to the mirror image.
@Flyfishingstocks @LongBacon 1.) blind sentiment? That's funny coming from you. I've posted more objective data in this conversation than you have. Your entire market view is driven by negative emotions and nothing else. 2.) I've been hearing the market is overvalued since 2008, well over a decade now. You'll be yelling about $SPY when it hits 1000 some day while everyone else banks retirement money. 3.) There was NO RUG PULL. LMAO. I gave you a chart illustrating correlation between rate hikes and recessions which you ignored. We were above 2% in 2019 before covid and at best we'll hit 1% next year with the 3 hikes the Fed is forecasting, if those even materialize. You probably don't know that markets go up through the first few hikes too. Already the market is discounting overpriced stocks in anticipation of these hikes and are you buying these cheaper shares? Of course not! Too busy wallowing in 'end of days' nonsense and looking for a crash to see what's actually going on.
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