Ever since Friday's short squeeze in big tech, it's as if someone turned the spigot off. I can't find a decent trade, so I've moved to cash.
It could be we're already seeing a lack of volume, since Thanksgiving is next week.
Typical Holiday Trading
To recap the market action of the past 2 weeks #DowJones Fast Money CNBC pic.twitter.com/ViCSwAoPyp
— Veteran Market Timer (@3Xtraders) November 13, 2023
Energy was sold and Big Tech bought
I'm not sure if that trend continues, but we're about to find out.
I think the fact that news of a new NVIDEA chip is being published, points to another pump n dump rally in the tech space, but we could see a little pullback first. I think that depends on who is short, going into Friday OPEX, and if we're about to see some profit taking.
This mornings CPI Report
CPI could be used as an excuse to buy or sell, but the only thing Wall Street cares about is OPEX Friday. and retail short covering ahead of the Thanksgiving holiday.
— Veteran Market Timer (@3Xtraders) November 14, 2023
Seems a little unpredictable here
Nasdaq
Could be the triangle pattern was wave 4, and this is wave 5, but could be a powerful wave c in an expanded flat pattern. #ElliottWave $NDX $QQQ #Nasdaq pic.twitter.com/c6xpzn9LJ0
— Veteran Market Timer (@3Xtraders) November 10, 2023
Take Care,
AA
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