24 replies to this topic

[dTraderB]

One 11-point pullback in progress.... 

two or three 5-point pullbacks in a lower-highs-lower-lows trend will translate into a market up ONLY 15 points instead of 30

[dTraderB]

Quick Note before real action begins:

if the market is up because of Mnuhcin's trade stalling, carrot & stick approach, then the decline will resume this week, because China will perceive weakness and Trump's fear of a market decline and so they, the Chinese, will play hardball.

 

https://www.cnbc.com...-trade-war.html

[CLK]

Shorted the Dow. DAX fading this move.

[dTraderB]

Tech retreating after FB plunges. 

24-point pullback from 2640 to 2616. and then up to 2624

2616 is the next support level, low of reversal 5m candle

 

Early indications seem to suggest the retailers bought and the 1% sold to them at much higher prices

[CLK]

Long SPY for a hedge, 5 min. bounce is distribution though, volume too high. Keeping Puts, may add.

[dTraderB]

That was a BIG 5m candle hitting the low of the cash session, so far: from 2603 to 2612

If that 2602 low is taken out today then look out below! 

But, there is a string reversal in progress. 

Edited by dTraderB, 26 March 2018 - 10:37 AM.

[dTraderB]

This market may fall apart very quickly! 

If trading LONG, be ready to bail, set HARD STOPS, and be on the alert for spikes down. 

 

It is an important day in the market after the big declines late last week. 

Today's close will determine where we go for the next week or so, and maybe beyond that.

Edited by dTraderB, 26 March 2018 - 11:06 AM.

[CLK]

Might be doji holiday week too, lose on both sides.

[CLK]

I do agree looks ready to turn back down, move up was corrective, I just don't know about the week,

holiday weeks never been in my favor for some reason.

[CLK]

Closed Dow short. Looks bullish now, leaving crash puts on only. Fifteen min. tracing out mirror move targeting 24,500.