$NVDA leads the semis lower as it triggers a short entry at the 20-dema at the open and is now testing 50-dma support. Bust that and it triggers a second SS entry on the same day. #EatMyShorts
Whatever you want to call it the Treasury Dept's twisty QE has triggered the ABD trade (anything but the dollar), which triggers a lifeboat trade into #Bitcoin$BTCUSD that in turn triggers a mad scramble by any shorts, creating one crazy-looking weekly price/volume bar.
Market keeps selling off but #Gold via the $GLD keeps rallying. An extended pocket pivot today at the 50-dma following yesterday's BGU out of a short flag. Meanwhile the NASDAQ $COMPQ breaks below 20-dema support and now appears set for a test of the 50-day. #GotGold#EatMyShorts
$SOX yields about 15% from the initial long entry signal right before the open in about 50 minutes as it launches straight up along the 6-EMA and then issues a sell signal shortly thereafter, but typical OWL strategy here is to exit INTO the vertical move which is easy enough.
A week ago $AVGO looked like a semiconductor revival candidate but it was just a bear market rally within an overall Pinhead & Shoulders formation. #EatMyShorts
They are going to print again, but semiconductors can't catch a bid as the $SOXS triggers a long entry signal right before the opening bell. #EatMyShorts
