Yesterday's bearish signal was found on the QQQ's on a simple 10 min chart.
#NASDAQ rallies 2% - $QQQ
— Veteran Market Timer (@3Xtraders) October 5, 2021
A lower high - st #Bearish pic.twitter.com/OGq5JmbtJ0
Looks like it's just retesting the lows, and trying to build a base, is my guess.
Natural Gas:
Bloomberg reported yesterday that NatGas was making 10 year highs, which is hysterical. It's only testing the 2014 high.
Russia is no doubt benefiting from higher NatGas prices, in Europe.
$RSX - Russia - testing 10 year highs. Perhaps this is what Bloomberg meant...?
Someone asked me for my outlook on the 3X NatGas bear $KOLD, which I've already provided. Forget which day that was....
No doubt speculators have been piling into $BOIL, because they believe there's going to be a gas shortage in the US, and hedge funds may even be shorting $KOLD. Leveraged ETF's have been used to manipulate the underlying indices, since their inception.
$KOLD continues to trade in a bearish channel. Resistance 10.50, but I suggest you place your trades based on the Natural Gas charts.
I'm out of time, AA
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