Furious Rally Sends Nasdaq to Biggest Rebound Since March... bloomberg
Around mid-day I was watching bloomberg, when one of the hosts asked a very intelligent question, " do we know who's behind the selling"?
Maybe it was the Najarian Brothers (again), or any of the other former gangsters who you will routinely see featured on CNBC.
I can't say for sure who's pulling the Monday morning shakeouts, but I recognize a bear raid when I see one, and this one was easy to spot.
Side Note: There's a fine line between, catching a falling knife, and recognizing a little bear raid, for what it is, and unless you know how to spot the difference - using technical indicators (including charts) - then you're going to be better off sitting on your hands.
As I tweeted yesterday morning:
The bid on the $VXN was raised in order to take the NASDAQ down. Wish I could show the chart...
If you can chart, and know what to look for, then at least you knew where to start... but I try to keep certain charts close to my chest.
I can show you a couple of examples of how the rug was pulled on the $SOX index
$SOX - Technical support levels being taken out on the 10 min chart, isn't a coincidence. These are well coordinated bear raids.
Something we still haven't seen, is for money to come out of the energy trade, but I am watching what looks like a topping pattern develop in the oil and gas drillers.
If you're interested in the energy charts, donate at least $100, and request them in my twitter feed.
A final word:
If all you're trading in 2022, is the $SPX, then I'm afraid you're going to miss out on some explosive sector trading...
Later, AA
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