Yeah, nothing but chop today. Throw up a standard 20, 2 Bollinger Band on a 5m and we have essentially chopped from the top band to the bottom band and back up for two days now.
3rd tap on yesterdays low, seems too extended though will probably pop before breaking... if it does.
Crude not only down for 12 consecutive days, it is also down almost 7% for the day, that’s some kind of a crash
ya i remember he was getting into trading futures a while back ... missing his input greatly here. also missing @Frankenstein's input ... he's been pretty spot on with his targets ... his last call was 2800 on the SPX which we hit to a tee.
holy shat lol this might be a losing streak that will stand for years to come the oil crash back in 2014 was pretty monumental as was 2008's ... wondering what the % comparisons are in the same time period. 2014 didn't have as many "consecutive" down closes as this one, but that year had much larger daily drops...as did '08. still no matter how you slice it this is one for the history books that's for sure
whelp, i think i've found my answer this is an interesting chart i just came across that displays crude on a rolling 6 week % change there have been 9 other instances dating back to 1983 where prices fell -25% or greater in 30 trading days with the last occurrence coming back during the 2014-15 crash. that decline over a 6-week period was -37.5%. and as i had suspected while this is the worst 6 week drop since 2015, it hasn't nearly been as long. the current drop has only lasted 29 trading days, whereas the one 3 yrs ago occurred over 415 trading days. that isn't to take anything away from this decline though, it is epic no matter how you slice it
I tried to buy the dips in energy stocks in 2014 and of course my timing wasn't the greatest, and I ended up holding them for a few years I sold for a little bit of profits earlier this year and got some nice dividends, but I probably not buying the dips again unless the prices get really depressed
Not the best signs for the bulls I guess First of all the gains earlier today didn't hold, and we might fail to make up some of the losses from the massive selloff yesterday if the market doesn't have a nice bounce here into the close
Brexit: UK and EU 'agree text' of draft withdrawal agreement https://www.bbc.com/news/uk-politics-46188790 SPY now up 0.47% AH
Good morning to all. Here is the pre-market thread for those of you wanting to get a quick read before today's open- <-- click there to read! Good trading to all on this Wednesday.
do we have a crossover of the daily 50ma below the daily 200ma on the small caps index? wanted to pull up the rut but tos is crapping out on me this morning don't wanna make too much of it but just an observation nonetheless
On October 30th, I said that it looked like a test of 2800 was in the works. And it hit 2815 on November 7. I also said, I'd probably exit around 1830 because 1850 did not look as likely anymore, according to my theory. I exited all my long positions on that rally to that 1815 level for risk management. I had been averaging in. I am all out now, with some net profit--but, of course, not as much as I'd like. A fresh start. I don't care for this 2720 level for buying long. I'd like at least a collapse non above 2700 for a long re-entry. As I said before, there are two things for any swing trader to know: 1. price action prediction and 2. trade management. Both are equally important, especially since price action prediction is a dynamic animal--it's always changing depending on what's been happening lately in the market.
inquiring minds want to know... https://www.stockaholics.net/threads/bear-market-incoming-poll-within.7435/
As Yogi Berra says; "It’s like déjà vu all over again." This is starting to really remind me of the period a while back when every time the FED was expected to raise rates the markets would throw a tantrum, the FED wouldn't raise, then the markets would rip til the next decision.
The FED can’t back off next month unless the economic data that we get for the next few weeks are completely disasters If the FED hiking few more times next year, we probably would need some pretty strong earnings and economic growth for this market to get some decent gains
