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THAT was a low? Could be....


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#1 dTraderB

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Posted 24 April 2018 - 08:30 PM

A strong bounce from the low today - both S&P and NQ Futures - with a retest during the last hour and then the final bounce of the day looked quite impressive for a ST rally towards SPM 2690/2700. Long tails in the hourly candles suggest strong buying at that low zone, 2616 to 2619.

But, markets seem vulnerable to plunge at any bad or half-bad news, so it will take some doing to rebound so quickly.

 

 

 



#2 kaiser soze

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Posted 24 April 2018 - 10:56 PM

There is no doubt that every short term spike lower is being aggressively bought.  But that merely signals the absence of capitulation.  So, we may go up for a day or two, or even a whole week or two on occasion, but the intermediate term trend is DOWN.



#3 dTraderB

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Posted 25 April 2018 - 06:37 AM

They are again testing that low this morning.  ESM  2618/19



#4 dTraderB

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Posted 25 April 2018 - 06:37 AM

Agree, IT is down, also ST, but there could be a ST bounce today, or else 

a trip to the previous 2018 lows is on the cards.



#5 K Wave

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Posted 25 April 2018 - 06:46 AM

Watch AMZN today folks...1450 looks like very important area going forward...

 

IF...that level fails to hold by the close today, Oct 1987 type action very possible on that chart over next 10 days or so.

 

One could imagine what that type of action on AMZN would do to the indexes....especially with both APPL and GOOGLE closing below their 200 day MA yesterday, and now also inside the "crash window".

 

Not saying a crash will happen, but this is configuration where they have happened in the past....so until AAPL and GOOGL reclaim their 200 day MAs, and hourly charts turn back upside, there is potential extreme risk here over coming days...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#6 dTraderB

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Posted 25 April 2018 - 07:03 AM

Another bounce off yesterday's low in S&P and NQ Futures



#7 kaiser soze

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Posted 25 April 2018 - 07:48 AM

My best guess is that today will be a consolidation day to digest the losses.  After a breather today and possibly most of tomorrow morning, another vicious sell-off awaits.  Banks should hold up better than most sectors because rising rates favor them - lets see if that works out.  



#8 K Wave

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Posted 25 April 2018 - 08:09 AM

Also watch BA here today...Yuge Dow component.

 

Got earnings pop overnight...

 

If it doesn't hold, and 332 gets taken out downside after the open, be very careful with longs...

 

YM 24K looks like he bull/bear line today....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#9 K Wave

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Posted 25 April 2018 - 08:10 AM

My best guess is that today will be a consolidation day to digest the losses.  After a breather today and possibly most of tomorrow morning, another vicious sell-off awaits.  Banks should hold up better than most sectors because rising rates favor them - lets see if that works out.  

 

Could be....I would imagine they will do everything they can to hold the line at AMZN 1450 today, with some action above and below that level...

 

If it then gives way tomorrow, LOB....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#10 Waver

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Posted 25 April 2018 - 08:13 AM

K Wave - I think it was you who mentioned this is a Crash Window. What makes this a Crash Window?