If the SPX collapses to 3200 or 3210, it means adding in long--my theory says the price has to go back up at least to 3300 at some point
I miss those on this website and the previous one who made some bizarre but fairly accurate predictions 70% of the time. The 30% being wrong could be argued as "par for the course," but they had some imagination, some insight and some excitement. Sigh
The past couple of years here and the previous website seems like being a participant in "The Walking Dead" [I quit watching it a few years ago, though]
At any rate, back to market issues. It seems the SPX is currently range bound between around 3210 and 3310. If that is correct, 3310 to 3340 is a solid buy zone
Its been forever since I posted here. Had to chime in and say I'm still at it. I just dont go on forums anymore.
I hear that @Frankenstein and wholeheartedly agree with you. I am not sure if any of you guys caught my post from yesterday here: https://stockaholics.net/threads/bigbear0083.10823/ But even the site admin has been AWOL for quite some time now. I personally have missed reading his daily market stats and input in here. Just has not been the same w/o him. Hopefully it is nothing serious and we see him and some other old timers like @OldFart and others back again soon.
I missed the SPX 3210 collapse this morning. On the morning rally, I exited my long position from yesterday at 3235, hoping for a stronger re-test of the collapse. But, I decided to re-enter at 3225. A better position than yesterday. But, you have to be fast in your decision making. It's still early and so, there could another possibility. I shall add in if there is another collapse. I still believe in my theory which says that the market shall have to retest that 3300 level at least once more, at some point.
hah, still here! just not on as much as before. sorry if i scared anyone with my lack of activity here lately ... honestly did not think anyone would actually notice or care lol. hoping to make a full return to the market sometime around year end or the new year. unfortunately, if i'm being honest with y'all's here, my mom hasn't been feeling very well, and i just had a passing in the family which has sidelined me from the market, and being online much...still try to get on at least a few days a week if i can, but it's been a struggle hope you all have been doing great and are killing it with your trades! and really good to see you back in here @Frankenstein missed ya bigly 'round here bud! keep up the good work!
Well the 34 ema is supporting in 5-minute chart The 34 ema in 5-minute chart rarely gets crossed twice in a day. Could happen today if the pivot is resistance, but right now that ema is supporting. Which way do we break out of 3249-3265? Thursdays are usually weak.
Well there we go upward. I had a downward bias for today but we never made it to daily S1, the overnight/early morning low in futures held above it. Just not getting a spike in the VIX to really flush lower this week. It is staying elevated though, so looking like we'll see something in October.
Reason for my downward bias is that was the bigger reward play imo. Without a break down, this week is just sideways trading after Monday's iitial gap down.
I was hoping for another flush down that would have flushed the bulls out Don’t think we are out of the woods yet, seems like the positive impacts from the FED are fading a little bit and the election uncertainty coming up, might need vaccine/fiscal stimulus news now to push this market higher Those FAANG stocks really got overbought and the valuations got a little bit extreme
