Market view

Wow - what a MARKET yesterday , that was some crazy wild swings up and down - truly amazing for daytraders.

As I posted yesterday I thought a bottom were extreme close - and still not 100% sure yet that we have seen it - but I'm getting pretty confident right now being long as the downside is limited.

As I told members yesterday on www.nwatrading.com we bought a good starter position in TNA 37-38 yesterday on the dips + LCC called in room yesterday at 5$ as a potential big bouncer and gainer if markets starting to rally. LCC went up 20% yesterday to 5.8 and still looks good - TNA went up for us in the biggest end of day run I have seen before.... 20% also in 1 day we made.

What told me to stay long markets were a pattern on the euro (inverted HS pattern) which indicates to me a rally for the euro - and therefore a rally for the markets......

If its hold true I think euro should keep going and with this markets should keep going up - but I have only a starter swing position at 37-38 , pretty good one though cause I added more TNA on the FOMC (fakeout dip) we got - as I saw we got a BULLISH 60min chart MACD divergence.

Remember yesterday I said - we have NO kind of bullish MACD 60min div, wait for this before a "possible" bottom to occur - and we got a lower low yesterday + but with a bullish divergence , which told me to add to long posiitons.

QQQ went down to some huge support at 50 (2010 top for QQQ) which I think will hold. So I think there is a 80% chance or so that the short term bottom is in.

If we rally today I might take off some gains in my stocks - but I think we could have a sell off into late this week (Thursday/Friday) still possible we could test back to 1120-1150 range just to fuck with both bulls and bears. Either way , if we get a dip later this week I will buy it and load up on the long side - as a bigger and major rally is underway.

The rally yesterday up 4-5% may also be the start and kick off for the rally so time will tell.

Conclusion: Got sell signals at TZA yesterday which I sold at 60 rest 50% , so all out of TZA from 37.5$ to 60 , what an amazing run... now opposite in TNA from 37-38 lol... can I get the same run ? Who knows - already closed at 45 yesterday, but my plan is if we rally to not chase - but rather wait for a pullback later this week to add more and size position in TNA.

So for members in our chat room on www.nwatrading.com we made 20% on LCC and 20% in TZA in 1 single day - thats amazing gains we had.

Have a nice day everyone and looking forward for Wednesday !