Whelp, we finally broke that streak of non 1% or greater full intraday range today, just 1 day prior to breaking the record (yesterday) lol Now to see if the DJ30 can close above 21K today ... if it does then that would tie the fastest 1K point interval on record at 24 trading days which was set in May 1999. Albeit, 1K point intervals now is not like it was in 1999 when the DJ30 was trading at 11K. In other words, it's not nearly as a noteworthy/impressive feat today as it was in '99.
Here are a couple of the companies coming out with ERs after the close today- After Market Close today: ($AVGO $SHAK $OPK $BOX $MNST $SGYP $JUNO $PLNT $BLDP $PSTG $HIIQ $ANW $GKOS $WTI $HDSN $CWST $XON $GERN) Spoiler: CLICK HERE FOR THE EARNINGS TIMES & ESTIMATES!
finally seeing some meaningful excess on these highs ... that last push got us what 8 ticks of excess ... but the internals are still pegged up at the highs here ... would ideally like to see 8-12 ticks of excess on the highs then have prices kind of pullback sharply ... but that's not happening markets still perfectly fine with finding acceptance at these levels also worth noting that cash spx is about 60 handles over the 20sma ... but i've seen that sometimes 80 handles overextended edit: and scratch that ... /es still finding new highs as we speak! european markets closing now.
Right about now I'd say would be a good time to see a sharp reversal off of these highs imo ... we have all the elements in place for a blowoff-ish type of move here ATHs made in the regular trading hours -- check Excess on the highs -- check No poor highs -- check Just need to see the internals reverse a bit, and price pullback we'll see ... but still finding acceptance as of now
Wow what a move Not only the SPX is getting close to 2400, the Nasdaq is just less than 2% away from 6K too Initially I thought hiking rate this month is unlikely, but maybe the FED is feeling pretty comfortable of hiking now if the market stays hot
Fed does the care what the market is doing. It's a Republican administration, they will hike rates and hike them again.
I was listening to Tom sosnov on Monday on the Tastytrade network. He said he went to lunch with a friend of his who is an active trader. He said his friend, like Tom, is short the market. However, he also said the market was going to be up 50 points (e mini futures) after Trump's speech. He also said his friend was just kidding.
I hate when I make stupid trades. I sold e mini futures at 2398. Then, I went to put my stop in at 2400.50. instead of a stop order, I put in a limit order and immediately bought back my sold futures for 2398.50. ugh. By the time I was able to go short again, it was trading at 2397.00.
Im being a patient bear here. It only takes 2 or 3 of the biggest hedge funds to start selling and everybody else will follow like lemmings.
I definitely should be more patient. But my foolish self doesn't want to miss the move. I don't like the last hourly candle. I was hoping for a much longer Candlewick
