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ST low is in place


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#21 tsharp

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Posted 23 October 2018 - 03:54 PM

OK, grudgingly, I give you the top prize for calling it first. LOL

 

But, I still want to see a close above 2710 and VIX closing at least 3 points down from its daily high

 

First? 

 

How about two weeks ago?

 

SPX-D-10-23-18.jpg

 

 

DOW-D-10-23-18.jpg

 

 

NDX-D-10-23-18.jpg

 

 

 

 

 How about 30-months ago?

 

 

SPX-W-10-23-18-Actual.jpg


Edited by tsharp, 23 October 2018 - 03:55 PM.


#22 dTraderB

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Posted 23 October 2018 - 04:18 PM

Great chart & analysis. 

Sorry, I missed it. 

Please feel free to post in my threads. 



#23 dTraderB

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Posted 23 October 2018 - 06:59 PM

Still more warnings....

 

The stock market faces ‘unlimited downside risk,’ warns veteran trader

“There is unlimited downside risk in the market right now and I don’t think it’s being respected,” he wrote. “It’s not until afterwards that they ask, ‘what happened?’” When the bottom falls out, that’s when the blaming begins.

“The Fed, the Trump, the ebola, or whatever excuse du jour is being regurgitated on the various media outlets,” Parets wrote. “The only one to blame is ourselves.”

He pointed to several divergences that should make clear to investors just how precarious the market situation is at these current levels. The first one is what we’re seeing in this chart of the S&P vs. the rest of the world.

https://www.marketwa...ader-2018-10-23



#24 dTraderB

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Posted 23 October 2018 - 07:01 PM

I really do believe China's market direction will infuence many markets, including the US. 

 

China’s stock selloff could wreak a lot more havoc before it’s over: Merrill Lynch

https://www.marketwa...ynch-2018-10-23



#25 dTraderB

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Posted 23 October 2018 - 07:03 PM

China investors fear too much stock is being used as collateral, a big market drag

 

China investors fear too much stock is being used as collateral, a big market drag Worries of a ‘vicious cycle’ where prices fall, loans are called, stocks are sold and prices fall more

As stocks in China plumb new lows, global investors can be forgiven for feeling some jitters as they recall the ripples sent through global financial markets by the country’s steep selloff in 2015.

One factor that made that plunge worse, analysts recall, was forced selling by traders who loaded up on leverage, pushing margin debt to a record ahead of the crash. This time around the concern centers on companies and shareholders that have pledged stock as collateral for loans. As in 2015, that runs the risk of kicking off a vicious cycle, in which falling stock prices leads to forced selling as pledged shares are liquidated, in turn leading to further falls in stock prices.

https://www.marketwa...drag-2018-10-23


Edited by dTraderB, 23 October 2018 - 07:04 PM.


#26 dTraderB

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Posted 23 October 2018 - 08:12 PM

Wall St hit hard but major indices were able to bounce enormously from the lows (the SPX was down ~64 points or ~2.3% at the low but finished the day down ~15 points). BUT The main problem remains a breach in the earnings firewall, JPM says.

DqOD3zJXcAQDwPU.jpg