Chapters
00:00 Intro: The Three Amigos
01:31 GP: Are Rates Bad for Tech?
03:02 GP: The 10-Year Over the Nasdaq Composite
05:04 GP: Tech's Move While Rates Rose
06:37 GP: Price Action Has to Confirm
08:09 When Would It Top Out?
09:14 Google's 20-for-1 Split
13:55 Nick: Following the QQQs' Trend
14:58 Nick: The QQQs' ABCD Legs
15:29 Nick: A Head and Shoulders
16:32 Crypto, Rates and the QQQs
21:40 Ben: Bitcoin as a Leading Indicator
24:12 The Dollar Rolls Over
28:19 Ben: The Weekly 21 at 47,000
29:19 Ben: Polkadot Follows Bitcoin
31:52 Fintech and Share Prices
35:26 Ben: Bitcoin's Fib Confluence
38:28 TA as Social Behavior
41:33 Bitcoin's Base Support
44:40 Ben: Bitcoin's 42,670 Level
47:12 Trading With the Trend
48:44 Ben: Disney Into Earnings
51:19 GP: Netflix, His Bull Market Indicator
53:24 GP: Following Through on Netflix
54:25 GP: Any Pullback Is a Buy
55:27 Futures Open
56:27 Wrap-Up
Market Hours #5 was a short Sunday TA Report with GP, Nick and Ben on February 6. GP overlaid the 10-year yield on the Nasdaq composite to argue that rising rates have not always been bad for tech. Nick followed the trend in the QQQs and mapped its ABCD legs. Ben watched Bitcoin as a leading indicator and wants its weekly 21 EMA near 47,000 broken. They also covered Google's split, the dollar, Polkadot, Bitcoin's confluence levels, TA as crowd behavior, Disney into earnings and Netflix as GP's bull market indicator.
Nick's setups, levels and trades
Nick said that on the QQQs, "if we're starting a leg higher here i've got the a the b leg here the b to c leg here and then c to d leg up here," and "i don't mind waiting for this pivot" to get taken out. He also saw a head and shoulders "which is kind of what i think is playing out." Longer term, he expects the QQQs to "set up an easy measured move" and to move fast toward 500 once 400 is taken out.
Ben's setups, levels and trades
Ben said "right now to me it just looks like it's it's a leading indicator as opposed to a lagging" one for Bitcoin, and "bitcoin has let us down so maybe it's maybe it's time that it's going to lead back up." "I'm a huge stickler on the 21 weekly," and "i want to see that 47 000 broken." "Polka dot's going to end up following bitcoin and there's a whole lot of levels overhead." On Bitcoin, "a run up to this 47 is absolutely possible and coincidentally that's where the weekly 21 ema is." On Disney into earnings, he is comfortable with it over the long term, though "if it gets down into the one teens it's it's likely not gonna hold."
GP's setups, levels and trades
GP said "i overlaid it over the nasdaq composite" using the 10-year yield, on "a weekly chart." In the earlier cycle, with rates rising, "tech took on another 100 move from here," and "the 10-year rates peak before slightly before they peaked right around here right before the nasdaq actually peaks." "Price action has to represent it otherwise this theory is busted." Asked about timing, he pointed to the "second half third quarter of this year." "Netflix is my bull market indicator," and "my general assumption is any pullback is a buy." From a false move, "potentially could come a massive fast move and you could be looking at you know netflix 1000."
Subscribe for the weekly live show at YouTube.com/@MarketHoursPod.
This is not financial advice. Market Hours is for education and entertainment only. Always do your own research.
Follow Market Hours: YouTube @MarketHoursPod · X @markethourspod · TikTok @markethourspod · StockTwits @markethourspod