SPY/QQQ Plan Your Trade For 12-17: Momentum Rally Pattern

3일 전

Today's Pattern suggests the SPY/QQQ will rally higher - possibly attempting to find a top.

What I find interesting is the big rally in the QQQ/Nasdaq yesterday. Possibly, the Momentum Rally phase hit the NQ yesterday.

Overall, I'm still looking for the markets to attempt to roll into a topping pattern. So, I'm staying very cautious of any big market moves right now.

Yes, if you look at the QQQ/NQ, it looks like the markets are in liftoff mode (bullish), but other data suggests the markets are actually weakening and pulling into a reversion phase.

Gold and Silver will likely find a base/bottom soon. I picked up some Call options on SILJ and GDX recently anticipating the potential rally move.

Bitcoin is well beyond a 100% measured move higher. Even though I believe Bitcoin can rally to 112k - 115k, I'm urging traders to stay cautious (still).

My data suggests the markets are weakening and possibly moving into a pullback/reversion phase.

Get some.

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