15 March 2024 TFSA - Down for 2 weeks

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TQQQ is down nearly 6% week-on-week.

I took $3000 out of NBC101 thinking there might be an opportunity to buy more, but there was no opportunity.

It looks like we'll have to wait a little longer.

Currently, equity is around 10%.

Assets actually increased from last week.

The increase in CAD assets while USD assets decreased is likely due to the exchange rate.

We have reduced the quantity, and when the US market is down, the exchange rate helps to protect us.

This is a positive direction.

We call it a correction, but the Nasdaq 100 is actually down only 1.14% from last week.

So it's currently down 3.3% from its high.

I would say there is still strong buying interest in the market.

My buy timing is -30% from the high, but I don't know if it will come.

This week's top apps saw a significant drop in the semiconductor sector and Meta, which had seen strong gains since the start of the year.

And Tesla is pouring oil on the fire.

What goes up must come down.

And Apple and Google, which have been neglected by the market, have risen for the first time in a long time.

But Microsoft just keeps going up.

There is little in the way of market issues for the time being, and I don't think we'll see much strength until earnings in late April.

 

It's F&G that makes me wonder if it's a tweak.

It was a week of little change for F&G, despite the markets falling.

Although he has come down from the Extreme Greed Zone, Siza is still in the Greed Zone.

I think it shows that the market is still strong.

If we look at the QQQ chart, we can see that it has broken the support line.

Until now, it had been moving up, protecting the support line, but it broke out on Friday.

We're still not sure where it's headed, but it's safe to assume that the break of the support line means that we could see some downside.

There is nothing positive in the market and nothing to look forward to in next week's rate announcement.

Hopefully, it will adjust and give us a good buying opportunity.

I changed the indicator a bit more.

Once again, it broke the 20-day moving average and is now hovering above it.

It was also the first week that the pair failed to break above the 20-day moving average.

So I'm expecting it to go down for a while longer.

The PER came down to 30.65 this week.

The forward PER is also down significantly from last week at 28.65.

I think this is probably a reflection of the results announced last week.

And then the Nasdaq 100 went down, and I think that made it worse.

 

The market seems to be heading lower.

But the difference from the last correction is that I'm sitting on a lot of cash.

That's why I'm enjoying watching this dip.

Now all that's left is when to put in my cash.

I'm hoping for a roughly 30% drop from the high, but I'm not sure.

Still, my criteria are RSI below 30, F&G below 25, and when it breaks the bottom of the BB band.

Moreover, if the RSI shows divergence, it would be a great buying opportunity.

Even if TQQQ falls, I will still buy the occasional doji candle and make a small profit.

I sleep better knowing I have cash.

I can't wait for a good long hit.