Page menu

Friday, October 28, 2022

Market Update 10/28/22 - $META, $AMZN, Biotech, Tech Stock, Energy, and The Fed Pivot

 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. 


Expect these beaten down tech names to remain pinned into today's weekly Options expiration, because this is the whole point of taking it down on a Thursday, but there's another reason why these stocks are beaten down this week, as I'll reveal in a minute. 


Biotech looks like it's about to make a run here, so that the NASDAQ doesn't get crushed, and the chart agrees. This looks like the perfect bullish setup. Also looks like another game of wack-a-mole. Drive one sector up, while driving another one down, and then only report the bad sector, to keep the bear market story alive, although I have not yet tried to apply the same pattern to the tech sector.  

I found that setup yesterday, after first drawing up what I assumed was going to look like a bearish chart, but it looks like the "Get vaxxed", narrative is going to continue... 

Biden gets his COVID shot on camera amid effort to convince others to get vaccinated

Really (rhetorical)?  

Speaking of BS:

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! 


Oil just happens to be trading inverse to the pattern I'm seeing in tech

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:


As I tweeted in early October 

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, 


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. 


No comments:

Post a Comment