This Is Not Investment Advice
Market Teases Full Resumption of Rally
Risk On is teasing a resumption of the ‘Melt Up’ rally after a couple days of lighter volume moves up place the QQQ at a critical juncture:
Will the market continue to force the issue and muscle up a rally that sends the QQQ on like 17 straight Green 4HR candles right through Powell’s comments after the Fed Meeting? Or, is this a Low Volume and feeble rally attempt that will reverse because of the Money Flow conditions on Higher Time Frames? We simply do not know and guessing is not the answer.
We’ll be prepared for either.
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VIAV
VIAV Daily
DVLT
DVLT Daily
GLUE
GLUE Daily
Thoughts and observations:
Risk On and Market at a critical juncture . . . . . . junk debt giving solid price signals but lacking Volume . . . . . . Bitcoin not really playing along or helping as of yet . . . . QQQ and otherwise sit straddling 50 EMA after a 3 day light Volume bounce that has sent sentiment skyrocketing and rate cut odds surging towards 100% . . . . . bottom line the market is at somewhat of a fairly significant pivot point and we simply do not know what will happen
We can and will use more Longs to be prepared adequately for either outcome after the Thanksgiving Week (or even if Wednesday and Friday are influential and have some Volume) . . . . . . . . still Long DVLT and VIAV from prior sold all profits and more than half of the position a couple weeks back . . . . . GLUE would be new to us . . . . . Industry Group Medical - Biomed/Biotech has been on fire . . . .
Focusing on Leading Stocks showing the best Relative Strength in this selloff and consolidation period . . . . .
Focusing on the Industry Groups rising in the rankings and/or maintaining their strength and NOT directly tied to a bet on NVDA . . . .
My senses are that there are still major factors and questions for the ‘Melt Up’ and we already see the GPU/TPU debate and issue . . . . I keep coming back to ORCL and CRWV where BOTH credit and equity have slammed the door shut on using funny money numbers that don’t add up or make sense so what does that do for the overall spend . . . . . . and why are the behemoths now scrambling for the cheaper options and cost cutting . . . . needless to say I’m still quite suspicious of the “AI Trade” currently but the market could very well rally all hyped up about the manufactured and forced December rate cut . . . .
