$QQQ stopped bleeding at the 100 MA today. Last time it retested 100d was July 27-28. Then we got a V recovery. Will history repeat? Maybe. But shorter term MAs look more ominous to me now, so wouldn’t be surprised if visit 200d in September.
I know it shouldn’t, but $TSLA breaking down brings me such joy 😂 Sorry, Elon fans. I wish you no harm. These puts just trade so well on days like today.
Intuitively probably higher probability that $QQQ goes lower from here based on macro and seasonality, but technically it actually hasn’t done anything wrong (yet?). U&R off the 65SMA and 5/10EMA today. Above all MAs for now. Not a bad look. Under the hood, different story.
$BBY great earnings. This is one of few retailers that stand to benefit from our ever increasing reliance on tech, in store and online. Even competition like $AMZ is still not able to get a significant slice of their market share.