Nasdaq NQ QQQ - Reality Will Be a Tough Pill for PermabearsNo matter how much you read in the establishment media or in the narrative-controlled and socially engineered Twitter and Discord and Reddit forums about "recession" this and "bear market" that, the reality is that while some individual stocks have certainly been a bear market for well over a year, the indexes are not a bear market.
I made the call back at the beginning of November that the Nasdaq would head towards 14,000. The results were that it went up to 12,000 and came back near the lows, and three months has passed.
Nasdaq NQ - Unpopular Opinion #2,118: 14,000 is Coming
Price action is easy, timing is hard. That's the most significant thing I have enlightened to.
But here we are in February after a serious rally, and now that the post-FOMC pump has come and gone, the narrative has become "this is the top" and "the crash is coming."
However, just look at the weekly and monthly bars. This isn't bear market stuff.
Monthly
The literal last five months of Nasdaq futures has been a psychological operation against the COVID-June and COVID-October trendlines and the 2022 low of the year.
It's incredibly obvious on the weekly candles
Weekly
The most notable thing is that the end of the year did not breach the October low, and 2023 opened with a big bounce.
This tells us both that the low of the year isn't very likely to have transpired yet, and that we're still far away from a LOY unfolding.
Moreover, I've seen posts on Twitter that were tracking the SPX and the VIX against the 2008 GFC, 2002, and even the Dot Com bubble, and the January bullish divergence has thrown out all the prior price action to at least the 1970s crashes.
It's time for a revolution in our thinking.
What people don't understand or want to understand about the fundamentals is that when the fundamentals are bad, price is often bound to do what's contrary to expectations, and go up. So long as the market makers have time to work with, they will raise the prices and raise the prices for the purposes of selling YOU, retail dead money, the stocks they've held for a long time and bought more of at each successive low, at higher and higher prices in anticipation of the real crash.
The secondary effect this has is that while you're told by whoever it is that you're consciously or unconsciously taking orders from that the markets are about to crash BECAUSE RECESSION, FED FUNDS RATE, PROFIT/EARNINGS TOO HIGH, you're buying puts while it goes up. They expire worthless, you blow your account, and some Chad at JP Morgan goes for Happy Hour at 1:00 and wakes up under his car after a prostitute stole his Rolex.
Modern human life is total garbage. Return to tradition and find art and family again.
What's important about where we're at right now is that Nasdaq has finally retraced to its September CPI dump candle pivot, which it failed to breach, and looks to be setting up a double top after Friday's pullback.
In my opinion, we're about to get a very nice pullback that will serve as a simultaneous scare to shake out longs, and also a trap for permabears to leverage their entire accounts on puts and 1.5-3x short ETFs.
I'm specifically looking for a dump back under 12,000, which I believe is a long for price action that will take out the August highs by the end of March.
If you don't believe that Nasdaq can take out the August highs, then let me ask you a question: Why did the Dow, the most bearish of all indexes, take out the August highs in the middle of December?
In fact, the Dow as it stands is less than 10% away from setting a new all time high.
After what now amounts to 3 months of market action that isn't going lower combined with the Federal Reserve slowing its rate hikes, ask yourself why you think stocks should go down?
The truth is that the markets are going to crash. A terrifying market crash unlike the others has been arranged. But why do you think that the indexes either setting new highs, or doing a 76% retracement to the old highs, or setting a double top at the old highs, is out of the question before it unfolds?
Nobody has an answer to that, besides that they think it's out of the realm of possibility, for really no reason at all.
What you think can happen has nothing to do with what is actually happening, and this is the fatal flaw of an ordinary person, who only believes in what they can see while refusing to believe in what they cannot see.
Once the truth stands before your eyes, it's too late to profit. All you can do is feel regret that you missed the opportunity. Not so bad with the stock market, but when it comes to major things in life, there are no mulligans in the Cosmos.
Nasdaq to 14,500 by the end of March is my call. Buy the February dip if we get one and take profit over the old highs.
Red Communist China is the Blackest Swan
As always, you need to be careful in bullish market conditions, because an enormous black swan exists lingering in wait. That black swan is the Wuhan Pneumonia situation in mainland China as Xi Jinping and his Chinese Communist Party are on the verge of collapse.
The CCP claims that 85,000 people (~54/1 million on a population-adjusted basis) have died from COVID since the pandemic began. This is despite the virus being engineered there, patient zero being in Wuhan, and the country being the most populous in the world. For comparison's sake, the US has a quarter the population, but has lost 1.1 million people (3,000~/1 million) to COVID.
Even nearby Japan is posting 600 deaths per million people.
Is it really realistic to believe the Party has suffered a factor of 60 fewer losses than a country across the ocean?
And this is the same CCP that is a lying, murderous regime who has gone so far as to commit the unprecedented crime of organ harvesting during its persecution of Falun Gong.
The same CCP that covered up the 2003 SARS pandemic and made it seem to the outside world that barely anyone died.
The same CCP that every single human being who wants a future should be opposing with all of their might.
If you don't want a future, why are you trying to make money trading stocks? If you lose your future, can you spend your winnings and have a happy life?
It's up to you what you believe. An ordinary human has the flaw where they don't believe anything that isn't in front of their face, which is why they like to fall for the lies of establishment media and social media influencers.
The wise ones figure it out before the cards turn face up on the river and the dealer awards the pot, though. The fools get stacked and will lose more than just some casino chips.
