Little bit of consolidation at the low this morning... But im not gonna be the one to call a bottom I got stopped out of 2 positions today... Not looking to get back in yet
kind of funny reading people's posts on the live chat the past few days we get a few red days, and it's like the end of the world for some. suddenly, we're in a "bear market" according to a few (i won't name names of course). the panic never ceases to amaze me sometimes lol. taking a step back and looking at a 1-year daily of the cash spx, yes we're off the recent ATHs but this isn't even a "correction" no less the start of a "bear"...just a little dip (for now). we're finding support at the jan. highs (which was resistance on the way up, now turning support). can this turn into something of a correction at some point? sure. but, we're not there right not. this is still just a healthy breather after hitting ATHs a couple weeks back (or in the case of the DJ30, just last week!).
Energy seems to be the only sector not participating in the bearishness Picked up a small position in COP yesterday, already up 2%... Lemons to lemonade
SPX and the NASDAQ trying to stop their losing streaks here XHB having another lousy day I agree with @Jrich that energy is looking pretty good, they could outperform the market if crude prices continue to rise Since interest rates have stayed so low after the financial crisis in 2008, I think a lot of people are unfamiliar with the trading environment when we have more “normal” interest rates. We should see more volatility in the market rather than market going straight up since rates are normalizing now
here is the pre-market stock movers & news thread for those of you wanting to get a quick read before today's open- <-- click there to read! hope everyone has a real good trading day ahead today.
I've been waiting for Frankenstein to come back. Any announcement scheduled to come out today that can resuscitate this market? Or is it going to be a Trump tweet?
although this day ain't over yet, but it's looking like "the streak" will be coming to end today...barring a late day bounce (which still could certainly happen as we have seen recently). today would have made it to 75 trading days in a row without a +/-1% close which stands as the 10th longest streak ever in history. i guess you can say we were "due" woulda been hella impressive if the SPX went this whole month of october without said +/-1% close, which historically has seen the most +/-1% closes out of the entire full year.
Of course, the ideal would be around 2800. But anywhere between 2800 and 2840 is excellent. Even 2850 is solid. For long that is. And I am not referring to a day trade. But a swing trade.
