1 Ticker Tells You If the Panic Is Coming Back

I don't think we've found the top, brother.

Look, what isn't pumping right now…

SPY is breaking out, this is major, and the QQQ just got back over its 40-period moving average and is trying to climb over that whole initial breakdown, which is very strong for the Q's.

The bulls are taking over and they are driving this train. Whatever that was last week is yesterday's problem.

But okay, real talk, and this has been bugging me for days. I still don't really understand what caused that breakdown.

It was very odd. I could read exactly what price was doing, I just could not tell you why it was doing it, and I hate that.

So today Mark's on with me and he just tells me.

Japan and the United States took a liquidity bazooka to this market. Japan started Thursday, the US joined in Friday, and that Wednesday into Thursday night was the fulcrum of panic. That was your low.

And I'm sitting there like, okay, so that's the story. Now how do we follow the story before the market moves?

Steal this, it's free

FXY. That's the Japanese yen trust, and it is the easy way to watch whether that whole liquidity thing is still holding.

Go look at where the yen bounced off its low last Wednesday, then find the high from that Wednesday, right at the top of the gap. Put a price alert right there. Boom, done.

Cross back over that, we start getting worried. That's your warning shot.

You don't need to understand currencies. You don't need to stare at it all day. You just need the alert to go off.

Amazing, right? Thanks, Mark.

What I want in the Q's

We're above the 40 period, so honestly what I'd love is a little pullback and then a huge bounce off it.

Doing some fun technical analysis on the measured move, we're looking at retesting that old high around 750. I'm watching 740 first, that's about 20 points from here, and I take it in 10 point increments because I'm not going to sit here and pretend I know where this stops.

And TQQQ? Ooh. Now you're playing with gas.

One more thing and then I'll shut up. I don't like trading at all-time highs, which is exactly why the Q's are more interesting to me than SPY right now. The Q's still have work to do to get back. SPY is already sitting up there.

Trust you me, a market climbing back and a market that already arrived are two very different animals.

Rock On,

Voz

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