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Stunning reversal as Bulls came back from the dead ....can shocked bears recover?


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#11 tradesurfer

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Posted 24 October 2018 - 09:23 AM

I think the key takeaway at this juncture is very simple.

 

We KNEW that the market would churn at the support zone and previous swing low. 

 

A hammer candle was created in the sp daily futures bar.

 

So now TODAY if we break down again more than 50% of the bar and head below the hammer, it will be FULL ON SELL MODE.



#12 dTraderB

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Posted 24 October 2018 - 09:28 AM

Scalping on the way down, not as productive as yesterday, but fruitful.

 

Closing those 2 QQQ puts.  A distraction. 

 

Looking at crude.... active market

 

The retest is on...


Edited by dTraderB, 24 October 2018 - 09:28 AM.


#13 dTraderB

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Posted 24 October 2018 - 09:30 AM

I think the key takeaway at this juncture is very simple.

 

We KNEW that the market would churn at the support zone and previous swing low. 

 

A hammer candle was created in the sp daily futures bar.

 

So now TODAY if we break down again more than 50% of the bar and head below the hammer, it will be FULL ON SELL MODE.

 

 

For me, the ES 2710 level is important, and yesterday's low. 

A daily close below 2710 is bearish; of course, breaking yesterday's low is super bearish.... 



#14 dTraderB

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Posted 24 October 2018 - 09:35 AM

more external factors affecting market:  now suspicious device at CNN

 

CRASH WINDOW is still open...



#15 K Wave

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Posted 24 October 2018 - 09:38 AM

battle for control rages on here.....likely getting real close to moment of truth....


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

 

 


#16 redfoliage2

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Posted 24 October 2018 - 09:45 AM

It looks that there are forces supporting this market, I believe that the PPT is at working..........................



#17 Data

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Posted 24 October 2018 - 09:49 AM

NYSE had its first test of the February low yesterday.

 

McClellan sum uses an 18- and 38-day sum.   Those indicators will start to turn positive soon since the negative days will make up more than half the second sum.

 

My indicators are neutral still.  It is moving in the same manner as it did on the way up from April.  The daily breadth never gets really lopsided since most of the market cap is concentrated in 5-10 stocks.



#18 dTraderB

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Posted 24 October 2018 - 10:09 AM

Tying to milk this NQ short for all I can get... .. my best trade today, so far 

 

Testing...testing....testing 1 2 3....

 

Heavy sellng.

 

Will it hold?  

 

Want to trade the bounce, enter as early as possible. 



#19 dTraderB

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Posted 24 October 2018 - 10:11 AM

Trail stopped out of NQ short. 

 

Looks like many dip buyers got burned from yesterday's longs and there was a rush to exit.



#20 tradesurfer

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Posted 24 October 2018 - 10:21 AM

Uranus opposes New Moon today = revolution  , the planets seem to be working their magic again...

 

 

 

9 trading days until the election