5 replies to this topic

[salam]

Divergence between TECH and DOW unravelling.

 

Short TECH I guess; but I hope U all making money on the fast downside..and longs have respected their stops

 

Average short position@ ES 2650; will add above 2630

[salam]

Crash cancelled!

PPT knew the outcome of the bill...as did the market.

Sell the news Monday or continue to 2700 by xmas?

At least impending Trumps impeachment comes ever closer after today's news!

[Data]

I don't get a divergence.   Overlaying $INDU and $COMPQ gets a near perfect correlation.

 

The closest I get is the divergence between junk bond HYG or JNK and the $SPX or $XOI indexes.

[salam]

Apologies Data.

You are quite correct; I was referring to the day last week when the Nas was down 70 and the Dow up 70... then we had a crazy squeeze to Dow and SP ATHs the next day.

The tax bill is surely priced in ... but the market dislikes political uncertainty... and I expect more volatile trading days which is greT for a swing trader like me.

Buy above 2606 SPX sell below 2660 SPX

Break T either level and we extend 50 points either way

[csw2002]

Weekend markets are up another 80 points for Dow. At this rate, by sunday 5pm when futures reopen, we would be looking at new ath and monday morning 2700.

[salam]

Stocks should be cheap at 2700 with all the corporation tax cuts boosting P/E ratios