look at this chart: https://stockcharts.com/h-sc/ui interesting difference between daily and weekly. macd is not even close to getting in the green zone.
yep! there it is. great call as usual marcy also andy, no one really cares or looks at the dow 30 much (lol i'm just pullin' yer leg there ). well i personally only stick to spx and nazzy as far as the major indices are concerned. but i guess to each their own eh. also, i'm not too sure how confident i feel about this late morning bottom off the lows being the actual "bottom" for even a very short-term dead cat bounce (yet). was admittedly kinda hoping for some kind of a wash out open, the likes of which @stock1234 alluded to yesterday. where the majors dip 3-4% down to clear everything out. before a meaningful oversold ded cat ensues. not saying it can't happen from here. i mean, this has definitely been a nice little counter trend move higher since cash market open no doubt but we shall see how the afternoon plays out. one thing to note here though is that we never took out the globex ONL (overnight low) in the RTH (regular trading hours) session here. it's one of those james daltonisms in market profile that sometimes goes "overnight lows are not usually made in the ETH session, but rather RTH". meaning, a true end to the auction (down move) isn't really to be trusted until the low of the move is made in the regular hours. curious to see if we head back down after sandwich hour to get closer to testing that ONL. currently i'm all out of my spuz so i'm just largely watching it here. albeit barely so as i don't have all that much time to watch the market again today...pfft.. :/
Agree with you @bearmarketcrash This could just be a countertrend rally within the downtrend. The indices have a lot of work to do to get back above the 200 ma. And the downtrend, connecting the monthly highs this year, is waiting right there SPY~445. We'll see. It's kinda confounding to me that we haven't even hit VIX 40 yet, with everything going on nowadays (FB crashing -25%, COVID, war, etc.). ARK funds are lighting it up today.
What a day. Open at the low, close at the high. Marubozu all around. Whoa that PANW candle is ridiculous. Single day engulfing the whole month lol.
I cannot imagine folks will want to hold on to risk over the weekend...so I suspect this intraday TL on the 10-min chart holds.
might be a bit a work to get back up there but i could actually see this getting back close to about the halfback point of this entire corrective move before resuming with the move with the lower lows again. would work off some of these extreme oversold readings we're seeing lately. i'm only watching the action for now but may decide to jump back in le short side on the spuz on a decent dead cat. we shall see haha. hope you guys all had a wonderful week. may not be able to watch the action much at all today though. super busy day ahead here have a great w/e if i didn't get a chance to say it before then!
Top of the morning Stockaholics! Happy Friday to all of you! And welcome to the final trading day of the week and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are over 4 hours from the cash market open. GLTA on this Friday, February the 25th, 2022.
Morning Lineup - 2/25/22 - Where it Stops, Nobody Knows Fri, Feb 25, 2022 After trading lower most of the night, futures have seen a significant turnaround leading up to the opening bell. Although not nearly as dramatic as Thursday's intraday reversal, major US indices are currently looking at steady gains. Whether that holds into the closing bell ahead of the weekend remains to be seen. The catalyst behind this morning's strength has been calls for diplomacy from China in settling the Ukraine conflict and apparent signals from Russia that they too are ready to have diplomatic talks. At the same time, though, the Russian military says it has seized control of a key airport outside of Kyiv. Economic news this morning was generally positive Durable Goods, Personal Income, and Personal Spending all surpassing expectations while inflation data was mostly inline with expectations. Yesterday, we noted that the Nasdaq 100 ETF's (QQQ) positive reversal was just the third time in its history that the ETF gapped down more than 3% at the open and finished the day more than 3% higher. The other two days were in April 2000 and May 2001. Neither of those two prior days were followed by positive returns for US stocks. Widening out the criteria a little more, yesterday was only the 14th time that QQQ gapped down 2% at the open and finished the day higher. Once again, the vast majority of prior instances occurred during the dot-com bust, but they weren't exclusively confined to that period, and there have also been a handful of prior occurrences since the end of the financial crisis that occurred late in market selll-offs as well. In other words, the jury is still out, and given the catalyst behind yesterday's downside gap (a major geopolitical conflict) it's probably not a good idea not to read too much into one day's action.
LNTH looking great for 2 days after ER. The general market is making a run for the 200 sma as February nears its end.
here is the quick sneak peek at next week's notables on the ER front for any for you's lookin' 'round for that. have a great rest of your friday and weekend ahead folks!
Another nice day for PANW Guess cybersecurity will remain hot as long as the crisis continues in Russia and Ukraine
Oof...as I was saying...no way that 10-min chart TL holds. Everyone will gladly & happily hold risk through the weekend. Yes, right....
hah ye! i'll be super damned if that low last week actually marks the low of this entire corrective move. not bettin' on it. but, some oversold counter trend rallies are pretty normal as nothing moves in straight lines forever. don't have time to chart this right now as i need to head off here and will be a goner rest of this weekend. but if you or marcy could do it would be greatly appreciated. i think first target (as marcy also alluded to yesterday) would be the 200ma on the upside in the cash spx. i'm actually not sure where the exact "halfback point" (aka, the 50% fibo retracement mid point of the entire correction range) is on the cash spx. but that would be a target i'd be potentially eyeing for the next big shorting opp for me personally anyway. should be interesting to see what happens if/when we get there. ngl, but i almost did pull the short trigger at yesterday's close, but i didn't as it would have been 100% a hunch/whim move with zero game plan in mind behind that trade. which admittedly for me i never take a trade unless i do some pretty extensive dd with a solid game plan, where i know my targets, stops, and know where to get out if said trade were to go against me. thus, i didn't take that trade. anyway, let's see how this all shakes out next week. while i think it's possible this dead cat has a bit more bounce left in it. but, would also not be totally surprised if it just completely fell apart next week again. interesting times we live i tell ya! have a great weekend ahead ya'll's!
Gooooooooood Saturday morning and a happy weekend to y'all's here at the Stockaholics community! In case any of you missed it yesterday, here are the most anticipated earnings releases as well as the highest volatility earnings releases courtesy of Earnings Whispers for next week: Meanwhile, here is the market week ahead thread which is now up on Reddit for anyone looking for a quick read over this coming weekend: https://www.reddit.com/r/StockMarket/comments/t1wm9e/wall_street_week_ahead_for_the_trading_week/ Pete @ ST is a lso out with his weekly vid: Have yourself a wonderful weekend ahead everyone! And here's to another crazy amazing trading week ahead! Get that moola! Will catch up with y'all's same bat time, same bat channel bright and early in the AM on Monday. Might be largely MIA from the day-to-day once again for this coming week as unfortunately still have been struggling mightily to shake off those pesky IRL issues that have been a yuuuuuuge nag for me for the better part of this month. Really bites the bigly one but is what it is... :/ Hope everyone has been enjoying the market action this year thus far. If there's one thing I personally can say for sure here is that this year price action in the majors at least, far beats the price action we saw all of last year. Much less mundane to say the least. More of this year's price action por favor haha.
Top of the morning Stockaholics! Happy Monday to all of you! And welcome to the first trading day of the week and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are over 2 hours from the cash market open. GLTA on this Monday, February the 28th, 2022.
Oh right today is also month end trading. This month really flew right on by like it was nothing at all haha. GL to y'all's to close out the month of February today.
