happy st. paddy's day everyone! here's a fun fact: st. patrick's day happens to be one of the most green days of any for the full year for the market over the past 20 years i know, i know, totally meaningless fact here, but i think it's super cool that we're getting our cat bounce today...it just wouldn't have been right if we were down quadruple digits today
okay, so i think we've maybe had enough of all the negativity surrounding COVID-19 and the market. so, how about something more half glass full-ish? here are the 31 times the SPX has pulled back at least -10% from the highs since 1980. yes, i know, we don't quite know when this current selloff/downtrend/bear market/or whatever the heck you wanna call it will bottom out, but historically speaking, the markets are seen higher 90% of the time 12 months later after the eventual low is put in whenever that is
oh, i almost forgot to make a quick mention of this in here yesterday, but did y'alls know that yesterday had marked the 6 consecutive day that the SPX had closed at least 4% (+ or -), tying the record from november of 1929 seems like we are on pace to break that record at the close today given that we are currently in the green by well over +4% atm oh and btw, i finally got my thinkorswim platform working again ... super pumped about that as i wanted to do some quick charting to see where exactly we are with respect to this correction.
adding this one too: for the DJ30 it was actually only the 2nd time in its history that we had 3 consecutive days of 9% or greater moves. evidently the last time that happened was back on oct. of 1929
black gold breaching into the $27's here and looking like it maybe wants to take out last sunday's globex opening gap down lows here i don't see where there's support here ... maybe the 2016 low comes into play ($26 i think it was?). not sure we can actually see a sustained market bounce/rally without the likes of crude here ... just my worthless 2c anyway
Happy St Patrick’s Day here everyone Well geen day and St Patrick’s Day fits well together definitely
I think casinos will be a good buy at some point when things get back to normal. People will be tired of being quarantined first of all, they've also seen tremendous drops just like airlines.
Had that one on my watch list for quite awhile but never got the price I was looking for. In fact here was my chart and you can see my timeframe I had my alert set based on the text I added in.
I had a position but sold for profits when everything was selling off. Would have been great if I held
we'll see how this closes out in the next 10min, but looks like we could have a new record for the most consecutive 4% (+/-) or greater closes on the SPX at 7 in a row
