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I think my Virtual Trading Equity Curve pretty much tells the story: I peaked on March 14th and am down 70% since then (or about $400 billion). Hey, easy come, easy go. At least it’s fake! Let’s just say my real portfolio isn’t quite as aggressive.
I don’t think many charts express what a horrible week this has been for the bears than FNGU, which is the leveraged bullish fund based on the FANG stocks. Simply stated, this thing topped, fell hard, and then violently exploded higher to resistance. A silent prayer, if you please, for next week………
Consider this a contrarian signal if you like, but the white flag you see being waved is me surrendering to the energy bulls. I just can’t take this kind of thing anymore from XLE…….
Well, the tech bulls did it; the /NQ futures have pushed above a line that has proved to be formidable resistance for weeks, until this morning:
