Tuesday, February 27, 2024 8:15:40 PM
I have a sense that the market is about to change. A lot of stocks have been marking time going no where, which is usually called resting. Other stocks/etf's have continued to slowly keep going up like SPY and QQQ even thought they have had some pretty dramatic one- or two-day pullbacks.
There has been a lot of focus on NVDA, but I believe that their forward guidance more than supports the current price. And there are many more NVDA's like SNOW which is up some 56% since Nov, has been resting/consolidating now for a couple of weeks. It is ready for another breakout?
When I look at QQQ I am seeing another dragonfly doji which in the past was a pre-runner to a step higher. QQQ is for sure at support, and I think poised to break through.
Because the market did not fall apart this week and my comments above, I decided to take my investment from 50% to 100% at the close. We will see what happens.
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There has been a lot of focus on NVDA, but I believe that their forward guidance more than supports the current price. And there are many more NVDA's like SNOW which is up some 56% since Nov, has been resting/consolidating now for a couple of weeks. It is ready for another breakout?
When I look at QQQ I am seeing another dragonfly doji which in the past was a pre-runner to a step higher. QQQ is for sure at support, and I think poised to break through.
Because the market did not fall apart this week and my comments above, I decided to take my investment from 50% to 100% at the close. We will see what happens.
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Trade the Charts and not the Heart - Expect the trend to
continue until it doesn't - Realtime is the real deal
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