I think they were going to flush it no matter what happened today. They needed to get this out of the way. Without these levels we would just chop around until we got here imo.
hmmm... RSI still only at 28? Still might see more selling this week. I think we need 24 or lower for this week.
Fed said only 2 more hikes next year; 10-year rate went below 2.8. Now sitting on the line connecting bottoms
so you are saying we need to have a day like this again? Spoiler: Click to Show! i agree that we still have not seen that significant vix spike higher yet. @stock1234 - just a quick question for you here if you don't mind -- but at what vix level are you thinking would be considered a meaningful spike higher in your view? 30? 40? also, you still thinking this is an "orderly" selloff? we seem to have these daily 1-2% down days in the indices, but nothing panicky (yet) i guess.
Yeah at least 30s or high end of the 20s in my opinion. Mid 20s isn't showing the market is scared enough in my opinion I just don't feel like there is enough panic just yet, I think it would take longer to find the bottom if we are down 1-2% each day rather than having one big huge selloff like 3-4% to flush everyone out
Have the major indexes finished in the red at all after the financial crisis in 2007-2009? At this point I think it would be a miracle for the major indexes to finish green for this year since we are down well over 4% for the year, probably need a sudden trade deal between China and us or something like that
Good question, I'm not sure how it works though. I could be wrong but I believe it has to do with options? Maybe puts are just too expensive , but really I have no clue what makes it move.
4% is nothing in this environment. The possibility of recovering that before 2019 is excellent. But, I do expect the SPX to test the 2550 level, at some point. I added long LOT #3 at around 2500. I might ditch all my positions at around 2550 and start afresh. Addendum: I meant 2550 and not 2650.
here's just a quick update on my indices correction table as of right now. so the trannies have joined the small caps in bear territory, with the nazzy just about 1% away from entering it. the dj30 and spx still about roughly 5-6% away respectively.
Volatility is high for sure We need some kind of positive catalyst to recover 4% before end of this year in my opinion. We are kinda running out of time too with holidays coming up. We have just 3.5 trading days next week. Anyway I could be dead wrong and you have made a lot of good calls
i gotta go check on the stats after today's close, but i think if the month were to end right here, this would be the worst december on record i think the previous worst was like -8% or thereabouts from like the 1930s
