hereforgoodish

good morning, I’m back full-time and finally had the time to review the market and my positions thoroughly. here is what’s on my mind: first of all, I’m pretty happy how $NVDA ER turned out yesterday - even though it sucked the all the liquidity out of memory after the market opened. $QQQ is back above its 50-day moving average and the eq (0.5) point of the range. both are good signs. especially, hovering around the eq point suggests that this is a true range, and the logical thing to expect is still a deviation above the range-high (748.65). so, I say higher. $SOXX dip on Monday was bought heavily, and price has started to form the right shoulder of the inverse H&S. the turning point was around 498, which was also the low of the left shoulder on July 17. equal shoulders increase the hit rate of the pattern in my experience. I think bulls will step in soon, carrying the index above its main resistance at 539-561. above that, we are free as a bird. both $SNDK and $NBIS have traded with alarmingly low volume this week, consolidating within a relatively small range. this usually suggest a volatile swing, my guess is it will be to the upside. it makes sense for two reasons: fundamentals are still solid (even better after the NVDA report) and index price action is still in the discount range - this is where I go long, not short. $BTC had a massive move toward $80K, and almost all traders on my feed is euphoric, calling for ATHs. I think latest daily candles/wicks look horrible, and Bitcoin will pull a “Bart Simpson” price action into September/October. all the bulls are already in, so a trap before the bull run makes sense tbh. I’m not short, but not long either. 4-year cycle actually does work imo, so I’m waiting. swings exist, up and down, and they are part of the game. and this is not financial advice, but not being long AI-infra is a mistake. yes, I will keep repeating this because there is always some genius with a contrarian take who ends up spooking the market because of their high follower count and the echo-chamber effect of this place. good luck 🤝