Although I am not a day trader, after a big day up we usually get a day down.
My best guess is tomorrow, will NOT be a down day, but a follow through up day!
Posted 10 March 2020 - 02:54 PM
Although I am not a day trader, after a big day up we usually get a day down.
My best guess is tomorrow, will NOT be a down day, but a follow through up day!
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papilioinvest.com
@papilioinvest
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Posted 10 March 2020 - 03:20 PM
Ideally today should have been SPX +90 or so, because MACD "wants" to close some day at the 6 year long support line at -108. But with the extra run up today, MACD is -104 EOD. To close tomorrow at -108 would entail a flat day.
Edited by gm_general, 10 March 2020 - 03:21 PM.
Posted 10 March 2020 - 03:32 PM
Posted 10 March 2020 - 03:34 PM
VIX still has a huge gap to fill on the daily chart down to about 18......looks incredible for the bulls.
So you are already 100% long TQQQ?
Posted 10 March 2020 - 03:44 PM
VIX still has a huge gap to fill on the daily chart down to about 18......looks incredible for the bulls.
An inside day for VIX showing negative divergences to various indicators. I posted a chart on my recent post and hope your folks can view it without login to stockcharts.com
Posted 10 March 2020 - 03:46 PM
Edited by LMF, 10 March 2020 - 03:47 PM.
Posted 10 March 2020 - 05:42 PM
My charts show a strong oversold still in the market, so we should head higher tomorrow or stay about the same... We need to work off the oversold level we are now maintaining.. Market is not overvalued or undervalued... This means as economic perception improves so should the market... As bears cover, since we now have sufficient amount the market should improve... Commodities with the market also improved which is a positive sign that we more likely than not bottomed...
Posted 10 March 2020 - 07:48 PM
Posted 11 March 2020 - 04:52 AM
Edited by LMF, 11 March 2020 - 04:54 AM.
Posted 11 March 2020 - 07:54 AM
On the hunt now for the big swing buy opp.
Looking for bottom today on this pullback, then then once 24,600 is taken again, should be explosive move up.
Failure to take out 24,600 by tomorrow could mean something more sinister afoot here...
But as of now, multiple things pointing to this being significant bottom area...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy