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On the 22nd of August $IREN - $CIFR both where at all time high institutional ownership yet they both dropped a lot since then.
$CIFR -48%
$IREN -45%
Ownership at new highs, but price dropped...
Well... These Institutional Ownership chart hides something.
You see big increases on the chart, but net ownership increases didn't move that much, but short interest has for $IREN - $CIFR.
That's the thing you need to watch. Did the net ownership rise % wise compared with the chart or did short interest solely increase.
WHAT THE OWNERSHIP CHART HIDES⁉️
$IREN - $CIFR
Institutional ownership charts lie a little actually...
When a fund lends shares to a short seller, both the lender and the new buyer report them. Same share, counted twice.
$IREN: real buying happening here. Shorts at record highs do inflate the chart a bit, but the accumulation underneath is genuine. And with the open ATM this does offset it as well actually.
$CIFR: the jump looks impressive until you check what's behind it. Net shares flat, the founding shareholder sold a third of its position, shorts almost doubled. Not the buying wave the chart suggests.
So you see big increases, but net ownership increases didn't move that much, but short interest has for $IREN - $CIFR. And that is something you need to consider as well.
$CLSK reached +100% institutional ownership earlier this year, why? Because shorts kept doubling down...
BOTTOMS often happen on Thursday / Friday in bearish week...
Well guess what $QQQ - $SPY might end up doing tomorrow...
Bullish week next week ahead?
Looking at the $SPY - $QQQ - $DJI you can see over 988 market weeks.
That price peaks on often on a Monday in a bearish week and bottoms on a Thursday - Friday in a bearish week.
Very interesting to watch this now with indices showings signs of local tops.
Want to know them for bullish weeks as well?
$CAVA still fighting to clear the ceiling.
Held the key level at $49.67, which is the good news.
But a big rejection candle yesterday, another failed push at the EMAs, and a 4% drop to show for it.
Probably needs more time to stabilize before it can break through, staying patient here, no need to rush.
$WYFI back from the dead.
Chart was ugly, now it's flipping the script, reclaiming the 8 EMA with a near-30% push off the low.
Next stop looks like the pull at $12.50, right around where the 21 EMA sits too.
A level near $17.50 still looms above, interesting one to watch play out.
$RKLB rallying hard off the lows.
Tagged a level near $50 and held, filling the gap it left on the way down.
Already reclaimed the 8 EMA but hasn't cleared the 21 yet.
Up four straight days and nearly 20% already, so not one to chase here, but if it can gain more ground and stabilize a bit, this one gets very interesting.
$BMNR holding the line that matters.
Bouncing off and holding above the 200 MA, bullish to see.
Similar setup to $MSTR , but this one hasn't reclaimed the 8 EMA yet and is still below the 50, so plenty of resistance stacked above.
A level near $20 is still in play if that breaks, but holding the 200 here is the preferred path.
$UBER can't catch a break.
Tried to reclaim the EMAs a few times now and just kept failing, now breaking down through the must-hold level.
Not one to rush into here.
Best to sit back and let it prove itself before doing much of anything.
$OSCR at a line it has to defend.
Retesting the same trendline that held back in August and September, but this time it looks like it wants to break lower.
A level near $28 comes into play if it does.
Not one to jump into right away, it needs to find real strength and reclaim ground above here first.
$AAOI bounces hard off the floor.
Beautiful bounce off Floor $70, reclaiming the must-hold level and now sitting above the 8 EMA.
A wall at $81 is the next test, a retest of the 8 wouldn't be a bad thing either.
Still needs to find strength to start gaining the other EMAs as they continue sloping lower.
$MSTR bouncing clean off the 200.
Successful test of the 200 MA with a solid bounce, bullish signal.
Now battling the 8 EMA as the EMAs squeeze together, still holding above the 50.
Clear the 8 and 21 and a level near $180 comes back into play, until then, it's wait and see.
$IREN snapping back hard off the lows.
Bounced right off the filled gap near $24.60, just like expected.
Now riding the move and reclaiming the 8 EMA, a strong signal.
Next test is whether it can stretch up to the 21 and 50 EMA, after being way overextended to the downside.
