XLP looked good today. Not just saying that because it was up. Relative strength of XLP, weekly chart going back to 2008 Like DIS stock, this ETF looks like it has broken downtrend in the relative strength. Which means it should perform relatively better. Also looking back to 2008 this ETF did a lot better than SPY. XLP contains stocks like WMT. As for DIS today: it was overheated in the relative strength chart, so it pulled back. But that means it pulled back more than the general market (S&P, SPY). May be entering increased volatility in DIS, but expect the trend to be upward.
Here is this morning's 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 trading day ahead.
pretty volatile month of oct. up to this point eh? check out how many times we have seen of at least a +/-1% or greater move (on an intraday basis) in the spx...basically every day up to this point...this coming afer we went, what was it, like 75 trading days in a row without a +/-1% or greater move? seems like things have gotten pretty oversold here, the recent spike in the percentage of oversold stocks has now eclipsed the levels of oversoldness back during the feb. correction. these are now levels we haven't since the beginning of 2016.
Five Takeaways on October’s Rough Ride October has been a rough month for equities, but then again it’s historically been one of the most volatile periods of the year. “October is known for volatility, and we’ve sure seen it so far,” explained Senior Market Strategist Ryan Detrick. “In fact, by many measures, October is poised to be one of the worst months in years. The S&P 500 Index has had two separate six-day losing streaks this month for the first time in history. That pretty much sums it up.” Here are five takeaways from October’s action so far: The bad news. The S&P 500 is down 8.8% month to date, which would make this the worst month since February 2009 and the worst October since 2008 if it finishes the month at its current level. After not posting a daily move of more than 1% throughout the entire third quarter for the first time since 1963, this month has already seen six days out of 18 (33%) close at least 1% higher or lower. The S&P 500 has been down 14 days so far in October, the most for any month since May 2012. Also, 78% of the days this month have closed in the red (14 of 18), the worst for any month since 82% of days in April 1970 closed down. Now, for some good news. Since 1950, there have been seven other years when the S&P 500 was positive year-to-date at the end of September, but fell negative year to date at some point during the month of October. The final two months of those years were higher six times and up 4.1% on average. Historically, the last few days of October have been some of the strongest of the year. With markets looking extremely oversold, the stage could be set for a rally.
I think they'll go down. The last report they actually guided down. If they just guide in-line, it seems to me like that would be disappointing. Or they could do like NFLX, with a great report and an after-hours pop then give it back in a few days.
Ok. 2651 of yesterday to 2701 this morning at 9:49 a.m. PST. Maybe that is what was required for our trip to test that 1830 level--unfortunately, the 1850 to the 1870 level is not as much of a sure thing as the 1830 level now. Price action changes everything. But, that 1850 to 1870 level could stil happen. But, I am thinking about exiting for profit taking at that 1830 level, all or most of my long positions. But, of course, everything depends on what things look like once we arrive at that point--and according to my theory, we should test that 1830 level at some point. Of course, all of this from the perspective of a swing trader.
Nice bounce for the market today We were oversold and earnings are supportive I guess. We probably need to continue to see some good numbers though after the close from AMZN, GOOGL, and INTC
haha right on! i just happened to stumble across this chart this afternoon it would be very interesting if this were to play out once again
SPY now off by 0.76% AH after apparently disappointing earnings from GOOGL and AMZN, QQQ down 1.53% AH
They only missed revenues, by 300-500M, big beats on EPS. Google only down 4% after hours, it can turn that around tomorrow. Amazon down 7.4% after hours, usually I think that's too much to turn around the next day but it was up 7.1% today. Gotta see how they can recover tomorrow.
Here is this morning's 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 terrific trading day ahead on this final trading day of the week.
