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Critical test of the market today: can it hold or crash?


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#1 dTraderB

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Posted 22 February 2018 - 08:26 AM

There were attempts to rally overnight and there is a high probability of a rally to at least 2730-35.. 

The critical test: is can the market rally, sell off a few points, hold, and then rally above 2730/35 during this and the next session. 

This is a VERY resilient market that can quickly adjust to rising inflation and interest rates but this may take a few weeks for participants to adjust to the new environment.

It will be better for the medium and long term health of the market - and admittedly, for my bank account - if there is a test of the recent lows (2530/40) ......

 

 



#2 tommyt

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Posted 22 February 2018 - 11:02 AM

"can it hold or crash?"

 

crash today? pass the pipe. do you mean 200-300 SPX pts or 20?



#3 dTraderB

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Posted 22 February 2018 - 12:08 PM

First test of S&P 2730 failed.

Expect another attempt and more, if necessary.



#4 dTraderB

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Posted 22 February 2018 - 12:30 PM

Test #2 failedL

Let's see how the next one goes....but you get only so many opportunities.



#5 alexnewbee

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Posted 22 February 2018 - 02:36 PM

"can it hold or crash?"

 

crash today? pass the pipe. do you mean 200-300 SPX pts or 20?

2 ;)


"we do G.d's work" Lloyd Blankfein

#6 dTraderB

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Posted 23 February 2018 - 07:09 AM

3rd attempt at 2030 failed



#7 dTraderB

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Posted 23 February 2018 - 12:50 PM

3 more attempts failed to break 2730/1

 

Let's see if all the FEDspeak can help it break above S&P 2731 this afternoon