Today is the final day for the SCR (Santa Claus Rally). The SPX would need to close down greater than -3.87% today to end the SCR red.
So much for their theory that the # of phones sold doesn't matter anymore. Wonder if they'll change prices with economy in China slowing down?
There must be a lot of option players about to lose some coin. The homebuilders are being held up there! The Fed buying all the mortgages? It won't last...they are about to implode to CH11...
It's so funny if you watch the algo's. They try to bounce or hold every single 5m candle bottom on big down days at the EOD looking for that EOD bounce. If they hold one watch the money flow in , when it fails ..straight to the next candle. rinse and repeat lol.
Transports falling deeper into the bear market territory Airlines stocks getting smoked today on the revenue warning from Delta. Seeing more warnings now before the earnings season
The SCR has officially concluded. Here are the final percentage changes for the major indices for the SCR. Looks like even despite today's selloff the SCR still ends at least +1% or greater across all majors.
On that rally to 2519, I exited all my long positions for risk management. Not quite at break even. But if the SPX collapses somewhat, I can re-enter and not lose a thing. I prefer that vs. hanging on in this environment. But, overall, my account is in positive and profitable territory for 2018. I guess that's better than nothing.
I guess that's what I get for not believing in my theory and just going on "instinct"--or what what others call "gambling"
At any rate, I shall start entering long if the SPX hits 2430 or non-above. That would be a strategic entry--not necessarily a long, swing entry. This environment is tricky, due to our beloved POTUS, among other things
Good Friday morning to all. Here is the pre-market thread for those of you wanting a quick market read before today's open- <-- click there to read! Hope everyone a good final trading day of the week. Also, earnings season will soon be getting underway. Here's a quick sneak peek at next week's earnings calendar-
Job growth surges by 312,000 in December https://www.cnbc.com/2019/01/04/nonfarm-payrolls-december-2018.html Wow when was the last time we added 300K plus jobs Pretty impressive unless we have a huge revision
