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The Market Right Now - QQQ and Risk On/Off
From The Big Picture at Investor’s Business Daily after Wednesday’s close:
The Year-End Moves No One’s Watching
Markets don’t wait — and year-end waits even less.
In the final stretch, money rotates, funds window-dress, tax-loss selling meets bottom-fishing, and “Santa Rally” chatter turns into real tape. Most people notice after the move.
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Nasdaq General Market Indicators - 12/17
QQQ Daily
GOOG Daily
Thoughts and observations:
Perhaps I sold my QQQ Puts (Jan 31) a tad bit too early but no shame in cashing in . . . . if we stay in a corrective mode other opportunities will pop up . . . .
QQQ Daily above . . . . the Yellow Circle and quotes show exactly where I was NOT seeing the follow through and shifted to Risk Off . . . . . I ask myself if there is really any reason why I should shift now and take on MORE risk and the answer is no . . . . . . we had a very Low Volume short squeeze just as described at the time and now the QQQ is below both the 21 EMA and 50 EMA . . . .
GOOG . . . . the savior of the AI Trade and Daq . . . . just dumped below 21 EMA . . .
None of this is to suggest or imply some type of doom and gloom scenario . . . . more like the market action confirming that in my view the best course of action for me is to maintain a firm stance of prudence and caution on the Long side and continue to try and cultivate hedging and Short oriented opportunities . . . . bottom line nothing is urging me to get aggressive with Longs but rather to chill out and wait . . . .
Entirely plausible Risk On is already discounting the end of the current global “easing cycle” . . . . this does not mean Balance Sheet shrinkage but perhaps continuation of a transition period we have seen with the lack of change at the margin for Global M2 . . .
One of the worst courses of action in investing . . . . in my humble opinion . . . . is diving in front of a steamroller in an effort to collect a few pennies . . . . .
Money Flow . . . . Accumulation/Distribution . . . Up/Down Volume . . . .
