Today-Nasd- 5998 OLS- this is the market to pay attention to if you want to sell something short.. 5998-6002 has 4 levels of potent mix. A pretty powerful trigger. We took out early and finished the buying by 10am cst. FANG the FANGS as these have convinced the masses, millennial’s especially add in the index funds and this is setup for the bubble of bubbles. Risk stop over old high months ago in NASD.
People are sold lock stock and barrel these stocks are only ones to buy. Hmmm. Stock Rotation is buy dow and SP’s to blow the shorts one more time and sell Nasd. Eps do have targets about 25 handles higher, 2525-ish today high. Many old BIO and RX index are well worth warning (part of NASD100). Let’s watch how this shapes up going into mid day.
CATTLE –head and shoulders looks to point lower depending if we close down here. Feb live cattle has outside down day and now falling harder off the $120.30 olive sell level pre USDA COT data now 6th day off those highs. Long liquidation is my feel. RISK- VERTICAL DOWN.
Feeders leaked late Friday and again with follow through down and head shoulder top from which this too could liquidate some fund longs. This may be ready for the recognition stage of this break soon, maybe today. See charts for level setups.
Silver anyone? LUMBER is skyrocketing. Need an olive sell level?
