In yesterday's update I advised you to find the bottom on $META, using a 15 min. chart view, and this is what it looked like after the open.
$META
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Biden gets his COVID shot on camera amid effort to convince others to get vaccinated thehill.com
Really (rhetorical)?
Speaking of BS:
Bloomberg is reporting that twitter leadership "departed", don't want to use the word "fired" , I guess? @BloombergTV #Twitter shakeup
— Veteran Market Timer (@3Xtraders) October 28, 2022
Funny, CNN apparently doesn't have any trouble reporting the story accurately!
Elon Musk has taken control of Twitter and fired its top executives
Tech Stocks
$DJUSTC - Another Bullish set up, and this confirms what I'm about to reveal.
Looks like there's a good chance this is the massive sector rotation, everyone has been waiting for!
Energy
#Oil continues to hold up... #Brent pic.twitter.com/XUUrDbCm6g
— Veteran Market Timer (@3Xtraders) October 28, 2022
Looks like money is about to flee this bloated sector, and pile back into Tech stocks, as I've been predicting, all along, and here's why...
Next Weeks FOMC Meeting
The corrupt Fed is about to bow to political pressure, from the corrupt politicians, and pivot, at least on their language.
Sure they may do one more "supersized", rate hike, but who cares? GDP is positive, and the lending rate is still only 4%.
I believe the criminals who control Wall Street are more interested in putting cash to work, ahead of the Thanksgiving holiday, and getting their Christmas bonuses... and this is why they've taken the opportunity to crush $META, $AMZN, and every other stock, they can't wait to own!
I bet these Senate Leaders are already Net Long!
Of course the lying financial cable news shows won't report any of this, but I've done my own due diligence:
Democrats are already pressuring #thefed to pivot, right on schedule@BloombergTV https://t.co/MbuoqjHMVf
— Veteran Market Timer (@3Xtraders) October 27, 2022
Democrats heap pressure on #thefed to pivot. #Election #News https://t.co/TRUb7YLu9l
— Veteran Market Timer (@3Xtraders) October 27, 2022
Dems pressure #thefed. Remember when Trump did this? #FakeNews...
— Veteran Market Timer (@3Xtraders) October 27, 2022
“For working Americans who already feel the crush of inflation, job losses will make it much worse," Sen. Sherrod Brown (D-Ohio) warned Fed chair Jerome Powell this week https://t.co/1t6sgKiYQy via @HuffPostPol
As I tweeted in early October
1. A fed pivot is inevitable, it's just a matter of when...
— Veteran Market Timer (@3Xtraders) October 6, 2022
2. The market has already priced in a recession anyways; down 3 quarters in a row. #WallStreet #Investors
3. BOE, RBA, and #thefed, aren't on the same page.
I'm in such a good mood, I think I'm going to take the day off, and add the above tech chart to the public charts area, and set it to auto-refresh, just like the old days!
It's possible that we continue to see weakness carry over into Monday, or even the Fed announcement on Tuesday, so don't be surprised to see more shakeouts, ahead of that date.
If I help you trade, then help support this website, by making a donation.
Take care,
AA
P.S. You can try trading the 3X leveraged Biotech bull ($LABU), but I'm not sure it tracks the sector very well. You may be better off finding a 2X fund, or just trading an ETF, or index.
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