haha, beat me to it! ...and there goes the SPX streak w/o a -5% dip off highs...that streak ends at 405 days.
the one thing that i keep coming back at is the fact that we had the ATH in the /ES made in the ETH (aka, a poor high). jim dalton (aka, father of market profile) would tell you that the end of the auction isn't when you print the ATH in the extended hours. i remember we saw this a few years back where a similar thing played out and we pulled back a few percent off the highs only to rally back to new highs in a couple of months. will be interesting to see if this plays out any differently. for now though, it's definitely looking bearrrry out there!
Lots of people are going to be jumping into anything priced lower here. Its been very rare to get an opportunity to buy stocks cheaply over the past few months.
whelp, january's move almost completely wiped out here ... 2,673.61 is the number to bring the SPX back to unch'd for the year. could get there this week at the pace we're falling
btw fwiw (not that this has any significance what so ever, it's pretty meaningless) but the dj30's largest point decline (on a closing basis) in history is -777.68 from sept. 29th 2008 obviously a lot less of a percentage move than in 2008
Finally a bit of a pull! IMO we just worked off that parabolic spike starting in January and we are getting back to a reasonable channel. I hope we over shoot and get to the ma(200). At any rate it's time to start putting together a shopping list imo.
Pretty close though...def strange moves lately and we're not even close to a bear market or even have a reason for it. I'm still looking for a good spot to get back in. I trade futures so I should have been playing the downside, but caught up with work, and couldn't trade....just my luck to miss out on the moves...
haha. speaking of down -1k i believe the largest "intraday" point decline in the history for the dj30 was back during that china yuan devaluation day in august of 2015? it was -1,089 ...we're like right there right now lol
Starting to see a lot of buying at the LOD, big money investors might be seeing good prices and buying these overdone sales maybe?
