Sunday, June 04, 2023 11:15:57 PM
QQQ/tech is now well into overbought territory on both the Daily and Weekly. That's normally a 'nothing to think about' short, but this rally has me questioning that.
I have some KRE puts for December I'm going to average down on, but that's all I am willing to risk on the short side for the moment.
Looking for a sector that will pick up the inevitable tech rotation.....
Right now, only thing bears have to latch on to is the possible TGA liquidity drain.
Everything else is currently printing good news.
Still though. These technicals on QQQ are like flies to honey right now. Hard to resist.
I have some KRE puts for December I'm going to average down on, but that's all I am willing to risk on the short side for the moment.
Looking for a sector that will pick up the inevitable tech rotation.....
Right now, only thing bears have to latch on to is the possible TGA liquidity drain.
Everything else is currently printing good news.
Still though. These technicals on QQQ are like flies to honey right now. Hard to resist.
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