looks like i missed another wild one today was without power for almost the entire day here @Ken34 good to see you're still checking in...i assume all was okay in your neck of the woods?
S&P 500 Losing Streaks: 56.8% End At Six Days Today was the sixth consecutive day that the S&P 500 has declined. Over this six-trading-day span S&P 500 has declined 6.7%. Russell 2000 has also declined for six straight days. DJIA and NASDAQ logged modest gains on Monday to avoid the losing streak. The last time S&P 500 declined six or more days was in late October/early-November of 2016. Since 1950, S&P 500 has suffered 118 daily losing streaks of six or more days. Sixty-seven of those streaks ended at six days. The average loss during those past streaks was 3.8%. The average gain the day that the losing streak ended was 0.83%. The smallest, streak-ending single day gain was 0.02% in February 1958 and the best was 4.01 in February 2009. In the above chart the average performance 30 trading days before and the 30 trading days after the last 67 S&P 500 losing streaks lasting exactly six days has been plotted. The losing streak is easily identified. Historically, losses incurred during the decline took longer than 30 trading days to recoup. There is also a 56.8% chance, based upon history that S&P 500’s daily losing streak ends at six as 67 of the last 118 did.
here is the pre-market stock movers & news thread for those of you wanting to get a quick read before today's open- <-- click there to read! hope everyone has a great final trading day of the week today.
Ok. Friday morning. The SPX gapped up. So, we are up around 40 handles from the close yesterday and well above that 2750 level. The key target for the bulls today is closing above 2800 today.
As a swing trader, I am targeting around the 2870 to 2850 level for profit taking. At that point, I shall determine precisely what to do, after I have a chance to assess things
yup everything was ok around here, lost power for a quick spell but that was about it. glad to see your safe too.
Yeah good to hear both of you are safe I didn’t have time to watch that much news about it but heard that it was a Category 4 storm, really powerful
Well not too bad of a day after the last 2 days for the bulls, but it has to be a little discouraging that the sharp gains this morning didn’t hold We will see how the market closes
By the way, good call by Cy on that we will finally see more than 1% daily move for the major indexes this month
haha thx for that @stock1234 was mostly just playing the probabilities more than anything else since we had just come off the least volatile Q3 in the SPX since 1963, it just seemed enviable to me that we would see some sort of pick up in volatility this month. this week we saw one of the longest streak without a 1% close up or down snapped (i believe this streak ended at 75 trading days -- whereas the all-time record streak was something like 94 trading days from the mid-90s) also, this month of october is notorious for seeing pretty big moves. no other month for the full year has seen more 1% changes up or down than oct. and coming into this month on that streak without a 1% close i just found it hard to fathom that we would just breeze right through this month without at least seeing a couple of 1% moves. it's just the time of the year we're in. perfectly normal actually, even though some people (*cough* on the live chat *cough*) seem to panic over a few days red.
ya, i see small caps have already entered correction territory (-10% decline on a closing basis from ATHs), as well as the trannies i wonder if the other majors will follow suit in the weeks to come before all is said and done i haven't checked so just eyeballing this one, but i believe big caps off about -6% from ATHs, so not quite in correction territory yet.
Looks like things are being set up for a bullish Monday. I would have preferred a break of 2800 today but looks like that might happen next Monday. Today is forming an inside bar.
