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I'd weigh the closing sentance of that post there tho
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175110340
Agreed, yesterday's selloff coupled with today's GAP and run....Now looking like closing on the HOD.
here's some basics
if oil bottomed
inflation bottomed as well
just as they begin cutting rates
not only that, they cut before the election and holidays
holidays are inflationary, now they added rate cuts to that with the market at record highs
the FED is run by complete idiots
if China bounces back at all, all commodities rise
Well I'll have to read up a bit more on "Continuation" gaps then.....
https://www.truedata.in/blog/Gap-up-and-gap-down-intraday-trading-strategy
Looks somewhat to me like their Runaway Gap
They mention there to consider a few other indicatiors
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=spy&x=45&y=15&time=100&startdate=1%2F4%2F2023&enddate=12%2F30%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=8&lf=4&lf2=2&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
I usually just go by these ultra-real basics
What's stumping me slghtly in that chart is yesterdays' afternoon selloff !
Which sure helped to create quite the gap !
Anyways, I guess a backtest of that line could quite readily manifest.
..
ok but who is buying the market here at 21 or 22 times earnings with a slowdown looming?
if oil bottomed, inflation bottomed as well ;)
its not an easing "cycle" that's where everyone is dead wrong
they might ease another 100 bips over time but i dont see easing at both meetings the rest of the year, maybe one 25 bip cut and thats it
they risk re-igniting inflation
at 5700, the market has ALREADY PRICE IN 200 bips in CUTS!!!! thats why this move today is an over reaction to the upside
EARNINGS cannot justify the move
Looks like when the Mkt stops reacting to the Vix on downside---big time buying pressure !
ALL IN......ALL IN.........LONG 500SPY 470 CALL !! SPY 500 IN A WEEK
Also Not to sure what allowed to post copyright stuff & all ---don't see much of my type chrts on the board don't want any problems--ya know !
I'll make that my winter project--U hit on it !
Nah this is too much of a Resistance Breakout for it to be a Fakeout....
I guess evidently most including myself were only expecting a 1/4
I mean clearly the mkt was anticipating a cut....but the 1/2 I'm sure surprised quite a lot ?
NOW those one's are thinkin' "Man, I've GOT TO dive right in !".....ha-ha
this move could be similar to the pop IWM made back in 2021 and then sold off for 3 years still not making a new high since
i think SPY is setting up the same way at 5700, if it gets to 5800-6000 PUTS will be the way to play
SPY is also at top of the bollinger band and keltner channel as well on daily and nearing it on the weekly
QQQs may have already topped out
AAPL up 4% NVDA up 5% TSLA up 7%
MSFT up 2% CRM up 5% META up 4%
CAT up 5% GS up 3% NFLX up 3%
HD up 2% AMD up 7% AVGO up 4%
ORCL up 2% DRI up 8%
the US economy is slowing
these moves are not sustainable going forward
Thanks...the Gap on yesterday's "news" definitely has me scratching my head...
Should have known the bait and switch was right under my nose...ie...your chart.
Out 573C .74! Daily Double on a dead Day !--- Not bad !
gap and trap bull trap at these levels
The fact nobody posts charts on this board really sucks.....* and that perhaps especially includes you Mr. Ducci (?)
Come on !......I mean, clearly you're LOOKING at charts there, right ?.....So, do you just need to learn HOW to post 'em ?
Or what ?
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=spy&x=59&y=19&time=100&startdate=2%2F4%2F2023&enddate=10%2F30%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
Anyways..... * Just sayin'....that i think it sucks......
What with T.A. being such a VISUAL discipline....
.
Wagg 573C .36? Vix 15 min wants to turn??
Have to stand a side when the Vix is malfunctioning on the short side---wait for a daily pattern to resume !!
Long duration will skew the Vix--(Drop in Volitilty--No response)---Eventually Vix 15 min will morph into By/Sig then Mkt Up looks like today ! If this keeps up back to just buying the calls routine gain ! Easy mony will be flowing into the Mkt again !
pretty impressed with how they have held this up on the Gap.
I'm afraid its 1916 -18 Hello Argentina
earnings dont justify 5700 let alone 5900, 6000, or 6100
lot of tax selling to come as well
recession is coming
7 tests of Vix 16.69! Won't Drop !!
No way is what folks said to a 5500 target when SPX was at 4000.
nobody has the balls to tell the truth....they can't pull the plug.
Wants to go down but it just stays erect.
Continuation Rally......?
This thing's NOW at almost 2 million (1.85)
Seriously ?
Market Timers Anonymous
Fly Away Upgap ?
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=spy&x=40&y=10&time=7&startdate=1%2F4%2F2020&enddate=12%2F30%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
.
Hyperinflation! Market don't go down
They crash up. America is toast!! SPY is spitting image of Venezuela!!
SPX would have been a good short at R2---but Fib 5703 blocked it---also Vix could not take out Fib at 16,69 !
Vix Trix----Vix Line in Sand for today Fib 16.69 ? Vix coiling again today just below Fib ?
Charts: Mkt coiling between SPX Fib 5703---R2--5716 ?
Spy wants to go down
500 points to the upside on SP 500 from here? no way
Agree. But another 500 points if not more is very possible. Then a huge correction combined with much higher interest rates.
https://tradingeconomics.com/venezuela/stock-market
Look familiar. Lol hyperinflation
my gut says this is a major bull trap
gap and trap
maybe so
i only hold two OTC plays
RITE BOTY
Yes inflation will rip. Inflate away the debt.
I’m loading gold jr miners
I think rotation like 2021 into otc.
inflation will rise again
unless we are headed to a major recession, oil has bottomed, the DXY is trading peculiarly, we have all of October to get through + earnings, and a polarizing election, not to mention any ongoing geo-political issues or new ones that may arise.
i dont understand why there is a rush to buy stocks at 5700 on SP 500
at best there is 3-5% upside from here, with chance of 20% drop
Record markets and record gold prices, scary for sure. 50 bps now and 50 bps by years end, does not signal strength.
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