haha, just a quickie heads up there T. looks like cnn business premarket page has got a bit of erroneous data showing up this AM. i can tell you for sure that the dow futs were never +340 at any point since globex opened back up last night. seems like this happens to cnn business page every now and then. but ye, that's erroneous data for sure. hopefully that'll get corrected for them soon. for now, maybe screenshot from another source. i usually just screen capture from finviz futures page until cnn money page is corrected again.
looks like they corrected it now tho! gm btw! hope you guys all have a great new trading week, month and quarter!
The SPX could collapse further, but a test of 4400 should take place...at some point [so, this is a swing trade basically]
oh hey, not sure if this was ever mentioned from y'all's in here last week (?) i was mostly MIA on the forums here as recent IRL issues have taken hold for me of late. :/ but, correct me if i'm wrong here, but i believe cash SPX finally did it last week ... and by that i mean officially registering that -5% pullback from an ATH. interesting. i may be in super minority here, but i'm actually targeting a bit lower levels on this current pull until things start really petering out. right now i have a target down at the daily 200-day moving on SPX...'bout 4100 give or take, which interestingly enough is also almost to the -10% correction level from the SPX's ATH intraday. so another roughly -150 handles or so of downside action from here. seems kind of a stretch i know, especially if there are no black swans to trigger it. but, still thinking that's a possibility until we really bottom out on this pullback move. we'll see. would be nice and healthy in the long run if the market did pullback to that area though. not in a straight line either of course. at that point i'd have to reassess. but, even with me targeting that area, i think that could potentially set us up for a super nice EOY rally, with the holiday season upcoming. should be interesting to see what happens. can't deny though that this latest pick in vol has been really nice for the short-term guys out there. i mean, the day trader has got to be just lovin' these nice large ranges we've been seeing of late. cause hell, the summer doldrums period was about as mundane as you can get as far as flat out boring market action. holy shit can i just say how much i hate choppy, sideways, rangebound markets? lmao. volatility ftw forever! more of this por favor.
Every day there is an opportunity to make x3 what you risk, may be an exponential amount of ways to get those returns.
QQQ at the bottom of the channel, bears will have to push it to get it lower. We hung out above the channel for a handful of days before correcting back in, so we may hold below it for a few more days.
Agreed, the Market profile today is a bearish one and to be more bullish I would like to see the 14724 prive level get taken out, basically today's highs on the A's. Though that would just put price back inside the consolidation from last week. I would just rather buy lower and take a punt as a contrarian. if they continue to go lower tomorrow, i'll join that trend
Ok. I entered at SPX 3290 yesterday but today, I exited for profit management. Hopefully, the price will collapse again for a nice new long entry
NFLX on a tear One of the rare tech stocks that didn’t get hit too hard during the tech sell off. Oil stocks continue to rally with crude closing on to $80s
ES is collapsing now--a good sign for those who want the price to collapse more [Of course, ES is only a suggestive indicator and not always reliable]. That's good. Maybe tomorrow I'll have another opportunity to go long--at the right moment, of course [but I want the SPX to be non-above 4300 though]. I think I made the right decision to emphasize risk management, in this environment. My theory says, however, the SPX still should test 4400 at some point [again, from a swing trader perspective and not day trading] and so buying at non-above 4300 is a solid buy level.
Extremely low TICK below -1500, yet VIX hardly budging. QQQ hanging out at bottom of channel for another day. If the bears can't push it further down, then we'll probably be going the other way by Friday.
The Nikkei keeps going down, almost -4% today. I guess our debt ceiling "crisis" is hitting Japan even worse...somehow? As always, "crisis" in quotes.
I entered lightly long this morning for the SPX at 4295--the SPX is pretty range bound at this time and buying some at 4295 is not a terrible level
Ok, all out on that last rally on the SPX at 4340--for risk management and profit taking! I want a new opportunity--again a nice collapse non-above 4300 on the SPX
McConnell to propose deal with Schumer to solve debt impasse https://thehill.com/homenews/senate...opose-deal-with-schumer-to-solve-debt-impasse Market well off the lows, this headline probably moved the market a little bit
