ask and ye shall receive @Value543 (great to see you btw! ) According to Bespoke Investment Group, the trading range for the S&P 500 hasn't been this tight for a day of trading in nearly 24 years. From Bespoke: Bespoke @bespokeinvest For @IvanTheK: today's S&P 500 intraday range (H - L)/(prev close) is 1.9 bps is the tightest since Christmas Eve 1992 (1.77 bps) Bespoke @bespokeinvest Since our data begins in 4/82, only three other days (10/29/92, 12/26/86, 9/27/85) have had tighter ITD ranges than today and 12/24/92 Basically, the difference from the highest and lowest point that the S&P 500 has traded today is the smallest since we were waiting on the inauguration of Bill Clinton. Additionally, it appears that the time around the Christmas holiday is known for this kind of quiet with three of the five tightest trading ranges (including today's) coming in the last few weeks of the year. (h/t @IvanTheK; @BespokeInvest)
Wait -- so you're not all knowing, @Cy McCaffrey?! I guess I don't want to see behind the curtain anymore! What's next? You gonna tell me Santa isn't real?!
This end of day, after hours sell off is good for my account. I keep wanting to pull the trigger and go long, but just can't bring myself to do it. Maybe people are going short now, taking profits, so they can re-load for the Santa rally.
Anyone knows if the market will close early this Friday? Usually the market closes early on Christmas Eve I believe but Christmas Eve is Saturday this year
big moves in Micron(MU) and Twilio(TWLO) today, wow, lock up expiry coming and going seems to have lifted some selling pressure off of twilio. what a move!
Alright dang it! Someone hold me to this. If I'm awake (Usually don't start looking at the markets until about 8am pacific time) and the /ES goes to 2254 area, I buy 1 long future.
Some Charts. The first chart is the hourly zoomed in. It shows support. The second chart is the hourly zoomed out. It shows resistance. Notice how the resistance later became support? The last chart just shows the 20 year trend line. On the monthly chart, it looks like it's bumping up into it. But on the hourly chart it looks like we've gone over it. I'm not much of a chart person, so I'm not really sure how accurate a monthly trend line is when zoomed in to an hourly chart. But if it's accurate, it looks like we'll bounce at around the 2250-2254 area and start heading back up. However, on the hourly trend line that is more recent, it looks like we're going to bounce up from here at 2255.50.
I guess I wrote all of that to say I'm going to buy a long future here and put my stop below 2250.00. If I get stopped out, it'll be a $300.00 loss.
I am looking at the same weekly trendline. I do think the market might pull a bit, then give the dow it's 20K, then all hell breaks lose on Jan 20th.
Looks like I may have bought my long future too soon. I've been wanting the markets to go down forever. Then I buy one little stinking future and the market finally goes down. So, that's the trick. Want markets to go down? Buy a future.
I've got my stop at 50. If we go down below 50 and then head back up, my head may explode. But if we have already hit the low until after the Santa rally, great. I'm protected a little to the upside and expect the markets to come back down after the Santa rally.
Several trendline there. Financials are due full a pull. Just trying to play the short side on something that might swing unlike the SPY
