Stock Market Today: January 2nd - 6th

Discussion in 'Stock Market Today' started by Stockaholic, Dec 30, 2016.

  1. Value543

    Value543 Well-Known Member

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    Admittedly a little surprised we didn't wee ANY continuation of that monster pop the other day, but the low/mid 1370s did end up finally being support -- right @ the 20 DMA among a couple other study indicators. The pierce but recovery of that MA shows willingness for buyers to step in at that level, so in this sideways trading zone I think we will see a little upside today. The range is tightening though, with resistance still @ upper 1380s and support @ the current level, but some downward space to 1358 - 1360. After that monster I really thought we were going to tap, if not crack, the ATHs -- the swift rejection of that idea has me wondering...but I'm still overall neutral on the RUT until a confirmed moved through either that floor or ceiling.

    Daily RUT.jpg
     
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  2. T0rm3nted

    T0rm3nted Moderator
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    To be honest, I wouldn't be surprised if even Fox News was pretty negative about the "Repuplican" President. Haven't watched it the last few months, but from what it sounded like prior to when he won, they didn't seem to like Trump at all. If they don't "support" him, then they can say "we didn't even support him, give republicans another try" later.
     
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  3. aaa

    aaa Member

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  4. T0rm3nted

    T0rm3nted Moderator
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    World markets and pre-market leading into today.

    upload_2017-1-6_7-24-5.png

    upload_2017-1-6_7-24-36.png
     
  5. Baggi

    Baggi Active Member

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    OK, it may be premature but I'm going to toot my own horn here.

    It looks like the one time I'm right it's at the beginning of 2017. If this turns out to be confirmed by today's close being as bullish as things look now, maybe I won't make anymore predictions for 2017 so I can say, "I was right all year!"
     
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  6. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Well we are getting close to Dow 20K again, maybe we can do it today :D
     
  7. Stockaholic

    Stockaholic Content Manager

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    Busy day for me. Just now getting on to check up on the markets. Was thinking we would have a boring flat day today. Logged in to the platform to see we came with 2 ticks of 20K lol. Cray. :eek:
     
  8. Stockaholic

    Stockaholic Content Manager

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    although i'll be perfectly honest i don't really care much for this meaningless # but that was kind of comical "19999.63" :p

    just print it and let's get on with it already .... :rolleyes:
     
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  9. Baggi

    Baggi Active Member

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    I had a fitful night sleep last night. I went long before bed at 2261.75 and put my stop below yesterday's low. Almost a $500 loss if I was stopped out.

    But after posting those charts I thought to myself, look, all the evidence is there. Don't be afraid.

    Paying off bigly today. Moved my stop now to 2262. So now if the worst happens, at least I'll get out for a few dollars.

    This seriously helps my SPX position also. I put in a broken wing butterfly back at the beginning of December. Max loss is $500.00. I'm pretty sure I'm going to see that max loss.
     
  10. Baggi

    Baggi Active Member

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    It's gotta happen today. News for the entire weekend.
     
  11. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Ain't that the truth.
     
  12. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Wow we were that close? :eek: Lol true pretty meaningless, will be interesting to see if more retail investors will finally get back into the market on the Dow 20K milestones though :rolleyes:
     
  13. Baggi

    Baggi Active Member

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    We just hit a new high on the /ES. Did we do the 20k dance on the Dow yet?
     
  14. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Not yet I think
     
  15. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Trump is ready to take credit for Dow 20K on Twitter :p
     
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  16. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    market is trolling sooo hard!
     
  17. Value543

    Value543 Well-Known Member

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    Can't help but notice, as all eyes are on DOW 20K, how the RUT is not playing today. Bulls & Bears are duking it out between 1375 & the 200 MA on the 10-min...I'd normally be encouraged by the higher lows, but the fact the RUT isn't following the DOW's lead gives me pause...pattern suggests we re-test, or at least drift higher, into the close -- we'll see...

    Daily RUT.jpg
     
    #117 Value543, Jan 6, 2017
    Last edited: Jan 6, 2017
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  18. Baggi

    Baggi Active Member

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    I went ahead and closed my /es long future. Nice little gain. Just over 10 points.
     
  19. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    I would be taking rest of the day off from the market already on another day, but the possible run to Dow 20K by end of the day keeps me looking at the indexes lol o_O
     
  20. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    That was a goal line stand.
     

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