NQ1! - Short - Grim
Before I say anything, I would point readers to my earlier post, which was looking at NQ1! / ARK / Stocks above 50 day and 10yr) This provides a better and bigger picture.
Post Jackson hole, the market has been selling off, my earlier idea was posted before this. In addition, SARK gave a clue to this, with its breakout from Bullish Falling Wedge
Futures are plummeting and it seems very likely to see retests of thick lines (12,281 - already broken,11,491, 11,068)
If things really taken a turn for the worse (more aggressive rate hikes for longer than predicted etc.) then either the 618 fi at 10,645 or 9,763 could be tested
As per my positions - I've gone long SARK (aka short ARK), and I'm short NDX.
I'm still going long on a few select names, but the stops are tight, and positions are put on at a pilot size.
Post Jackson hole, the market has been selling off, my earlier idea was posted before this. In addition, SARK gave a clue to this, with its breakout from Bullish Falling Wedge
Futures are plummeting and it seems very likely to see retests of thick lines (12,281 - already broken,11,491, 11,068)
If things really taken a turn for the worse (more aggressive rate hikes for longer than predicted etc.) then either the 618 fi at 10,645 or 9,763 could be tested
As per my positions - I've gone long SARK (aka short ARK), and I'm short NDX.
I'm still going long on a few select names, but the stops are tight, and positions are put on at a pilot size.
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