QQQ Hourly Chart - Mid-Day 02/28/24 - Critical short-term juncture

Stockcharts ^ | 02/28/24 | self

[Eccl 10:2]

I don’t think the unemployment numbers or jobless claims moved the market up, then down, then up.

The market reacted more to the inflation related numbers, and the Fed’s liquidity injection.

I’m keeping my discretionary investment powder dry. But that could change imminently. I’m taking it day by day, hour by hour.

QQQ *may* have broken out from the flag/channel, but just barely, not decisively.

[1of10]

“not hooves.”

425.33 ?????

OMG ...... I think your right ..

[Theoria]

Probably entering the knives of March.

NVDA, 2nd largest print of all time. $6bil at 791.

AAPl, LARGEST trade of all time.

META, top ten prints at ath.

GBTC, LARGEST trade of all time, cryto bros beware.

VOO, 5th largest trade of all time, vanguard spy

[1of10]

“moved the market “

I tend to look at things as “triggers” rather then movers ...
sometimes a little thing can spark a run or take the bottom out.
As for running up and down ... that’s the kind of movement I would expect when there is really no rational , fundamental basis for any real move in either direction.
Of course the Fed’s liquidity injection held support, the 10y yieled and the DXY have been running in inverse.... which ...to my view ... is a symptom of the difficulty the Fed is having trying to push that much dough in the doughnut.

Golds move up .... as the $$ went back up over 104 was very telling.

They got their headline ... again this Thursday
and like last Friday .... we will see if the markets can/will
absorb the slosh.
So far, after hrs... headed for 19000 ....
but ..
104.07 DXY ($up)
4.26 10y
moving in the same direction , but still out of wack.

Is this building down pressure ?
gold still 2045 ... why don’t the gold bugs believe in the “higher” value of the $ ?
I’m riding sqqq at 11 ... just like last week

deja vu .....again

[1of10]

“knives of March”

going to be choppy for sure ...

That is an amazing list ..

the phrase “all time “ really stands out

makes ya think .......

[TexasGator]

“QQQ *may* have broken out from the flag/channel, but just barely, not decisively.”

Is 445?

[1of10]

“QQQ *may* have broken out”

yes ... yes ...it may have 8-)
446.58

as for my day ...
DXY saw a big early pump close to 104.30
10y saw the yield pump close to 4.30

Then came the gas ....
DXY >>>>>>> to 103.80
10y >>>>>>> to 4.1810

... that’s a lot gas

I spent the day trying to put the fire out under my behind...
I caught the top just fine,and hedged my hedge ... but the door was slammed shut at that NDX 18300
right at the edge of the ski slope ...
unlike last friday ... when my diabolical plan worked ..sort of ..
Today the door was shut .... I could not escape ..
BUT ....
Does anyone think the 10y will stay at 4.1856 ????
Can the dollar stay at 103.89 ????

With the fall of NDX after the bell... it looks to me like some sell orders may have been routed through the dark pools,in order to hold that 18300 for some headlines ..
awweeooowee(x-files music)

But if your thinking of crying for me ... have no fear ..with gold hitting over 2080, I managed to finish the day with
a lean mean green 2.52%

And a little less hair than yesterday.

I hope everyone had a green candle day ... take tomorrow off 8-)

[1of10]

I’m missing your pings ...
hope you are doing ok

back in the channel ...
a lot of movement.....

I was wondering about your thoughts ...

I hope I didn’t tick you off with the unicorn comments
just trying to get some back and forth going

I don’t know what folks want in an “investment” thread ..

I’m on hold right now .... watching and waiting ..
I wish they had done this Friday , I was L+L 8-)

They are really working the DXY and 10y ... Looks like they are going to try and hold the NDX 18000 but ... who knows
right now?
It would be something if sqqq was 11 again Friday ...
If it shapes up that way .. I know what I’ll be doing.