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DOW weakest blown through lower BB & 50dma
SPX test coming up!
You're an astute trader with "patience" for your awesome trendline setups!
Hope you threw the kitchen sink at it to convert it into a pool :)
2002 test of low model is also one I'm following.
Lower BB/50dma should be tested on this run down
2720 - 2750
You're on FIRE!!
No miss ... Super call jglider!
Got it and understand ... Thanks again jglider!
It matches some of my pattern analysis work, so wanted to confirm with you.
Next marker still OPEX low?
Realize I haven't contributed much but interested in your markers ... appreciate your work and sharing jglider.
SPX couldn't even fill gap ... weak
Today's close is key to see if 20dma holds for bounce tomorrow.
Ha ha ... Good one JK!
And of course Trump tweets this
to save Black Monday!
https://www.cnbc.com/2020/05/03/trump-says-he-believes-there-will-be-a-coronavirus-vaccine-by-the-end-of-the-year.html
ATH - Thanks for posting these
I love looking at past patterns too and am watching to see how this bear bottoms out. This coming week is key to determine if 2020 continues to follow any of these past patterns.
Got it Jerry!
I'm still a short term bear and hate to be on the opposite side of you :)
While there have been V-shaped recoveries from 13-20% corrections (1997, 2018 come to mind), one from a 35-40% panic drop has not happened yet. This bear could be like the 1987 short cycle drop ... next 1-3 weeks should tell.
Jerry - Monthly bbcl rules
Does it need to regain on a daily, weekly or monthly basis to confirm bull case? The fact that both indices closed above their monthly bbcl in April points that this bear is unlike the 2000-03 or 2008-09 bears and confirms my earlier thought that this is going to be a 'very short bear cycle' with just a 1-2 quarter recession.
Hit the nail on the head Jerry ... Respect!
Basic Human value is to be treated with Respect even if we disagree with each other. We are first Humans, then citizens of a country, follow (or not follow) a certain faith, identify with a certain gender (or not) or a political idealogy!
Awesome video ... Loved Bush Jr.
He was my second President after Clinton (I moved to the U.S in the early 90's). Though I didn't agree with all his policies, yes he showed empathy and compassion (Treat others like you would like to be treated!) and did work hard to unite us. I knew I could sit down and have a beer & converstation with him :)
A Leader's true qualities are exhibited during times of crisis ... When things are rosy, anyone can be a "great leader" and Bush Jr. showed that after 9/11!
Interesting to see if it closes above or below the monthly mid BB at 2890 as it closes out the April candle.
Yes, it is primarily a stock board and one of the BEST I've seen on IHub with real smart folks and really no one should care what their political bias is if it helps others make money!
Take everything else as entertainment and move on ... everyone has a choice to follow a board, delete it or put folks on ignore :)
Take care!
Absolutely insane day trading skills to decipher market internals along with perspective on Big picture!
Bow to the professor!
Yesterday, I presented two options for today ... 2700 or 2900.
Forgot the 3rd possiblilty - 2800! :)
With the professor away, it was easy to get distracted by the "bikini girl"! :)
Again, appreciate you reminding of value area and not just price. This market is indeed resilient for now accepting bad news in stride!
Yes sir ... 20dma test tomorrow likely.
Last post for the day - Good night everyone!
EDIT: We close below that and it's bye bye Bulls, IMHO.
Yes, did expect us to retrace at least 50% of the move of the march lows but no, did not see the rebound from 4/21 lows coming last 2 days.
Still think 4/17 highs at 2879 is it and a close above monthy mid-BBCL will make me change my stance for now.
Today's candle appears to be a shooting star reversal
I've held a bearish bias above 2800 and continue to do so .... holding short.
Yeah not sure about that - let's see how futures react overnight to social distancing guidelines being possibly extended
https://www.cnbc.com/2020/04/23/coronavirus-trump-may-extend-social-distancing-guidelines-to-early-summer.html
No, getting sold on low Q2 guidance!
Was not rocket science to know this :) ... Very few like NFLX, AMZN, ZM etc. have benefitted from these lockdowns.
With respect to guidance, Intel said it expects $1.10 in adjusted earnings per share and $18.5 billion in revenue in the second quarter. Analysts polled by Refinitiv had expected adjusted second-quarter earnings of $1.19 per share on $17.97 billion in revenue.
Intel said it would not give guidance for the full year.
https://www.cnbc.com/2020/04/23/intel-intc-earnings-q1-2020.html
Closing over 50dma is key for Bulls!
Since 4/17, it has been consolidating under that but failing to close above. Institutions will DUMP hard if it does not close above sooon.
As Shadow1 said, day traders trade 20dma and institutions 50dma.
Intel earnings after the bell today
2700 or 2900 tomorrow?
Ha ha ... ok. Fake liquidation break then :)
Bulls should still be careful here
I realize I'm a novice here but I seriously doubt this is going past 2880 now ... If we close red today, it's all over for the bulls!
EDIT:
50dma is line in the sand ... fight going on!
Agree on virus especially if there is a 2nd wave
Parts of Harbin (China), a city in the far north, go under lockdown after it reports 52 imported cases.
https://foreignpolicy.com/2020/04/22/china-respond-new-coronavirus-outbreaks-harbin-russia-imported-cases/
Bingo Jerry!
So easy to get caught up on price and emotion indeed - I will raise my hand and admit that I fall into these traps often!
Learning more about value area from you and Shadow 1 - Appreciate you taking the time to educate others! THANK YOU!
You can add any link to your favorites
https://investorshub.advfn.com/boards/favLinks.aspx
Good call Jerry on the rally/long!
100 points is too far? :) with VIX over 40
Yes, 50dma possible too.
First hour should tell if gap will be filled
20dma still a magnet today or tomorrow.
Thanks Jerry!
Are you considering any alternate possibility that we may be "done" here on the upside? We stopped right at the weekly 100dma and monthly mid-BBCL. I'd be really surprised if we go past 2900 now before testing/breaking the lows.
Comparison to 2001-03 and 2008-09 bears below:
https://i1.wp.com/northmantrader.com/wp-content/uploads/2020/04/ESM-5.png?ssl=1
Wish - good note and good tip on DBO
I also checked UCO and it did a 25-1 reverse split today .... not sure if there is one planned for DBO soon. Have both on my radar now for scaling in over the next month.