Biotech Bounce in NQ 8/3/2020
NQ at the 4 hour.
I'm going to be upfront. I'm barely paying attention to the NQ or equities this week. The bounce was mainly due to biotech bouncing off a major support.
NQ is sentiment driven at this point. That makes it a bit dangerous to trade now. I don't think we are going to have the same magic or amazing rise like we say in April to early July.
Why am I not paying attention too much to equities? It's because commodities and cryptocurrency is where the action is at now. Natural gas jumped nearly 20%. That's a potential 30-60% in certain gas ETFs. Silver and gold entered their bull market. Bitcoin and Ethernet just entered into their bull market too.
There are more opportunities out there than just tech and biotech.
I'm going to be upfront. I'm barely paying attention to the NQ or equities this week. The bounce was mainly due to biotech bouncing off a major support.
NQ is sentiment driven at this point. That makes it a bit dangerous to trade now. I don't think we are going to have the same magic or amazing rise like we say in April to early July.
Why am I not paying attention too much to equities? It's because commodities and cryptocurrency is where the action is at now. Natural gas jumped nearly 20%. That's a potential 30-60% in certain gas ETFs. Silver and gold entered their bull market. Bitcoin and Ethernet just entered into their bull market too.
There are more opportunities out there than just tech and biotech.