Jump to content



Photo

4.06 Question: Did any TA see today's action coming?


  • Please log in to reply
16 replies to this topic

#11 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 17,943 posts

Posted 06 April 2020 - 03:23 PM

The current market is mostly COVID-19 news driven and of course with sharks pushing up or down on the overnight index futures before you see any actual buying or selling of real stocks ......................................................


Edited by redfoliage2, 06 April 2020 - 03:32 PM.


#12 tsharp

tsharp

    Member

  • Traders-Talk User
  • 1,487 posts

Posted 06 April 2020 - 03:33 PM

I believe Mark sees an large position in shorts as a contrary indicator.  

Is this short covering?  I don't think so, it started with the futures.

 

Yep...  I had a-b, a-b, and a c-wave to follow.

 

SP00-5-4-3-20.jpg


Edited by tsharp, 06 April 2020 - 03:38 PM.


#13 da_cheif

da_cheif

    Member

  • Traders-Talk User
  • 10,960 posts

Posted 06 April 2020 - 05:06 PM

I posted that TVIX looked ripe for "collapsation" on Friday based upon TA

 

Does a 14% drop count for collapsation?

 

So....if you were seeing a collpase of the VIX dead ahead, what would generally be the better thing to do..Buy or Sell?

 

I think bears that went home short on Friday are in for a world of hurt ahead....

4???    lolo     big 3    new dow aths on the  way       675 ono    2220 ono es recent low   clx students know all and see all     



#14 da_cheif

da_cheif

    Member

  • Traders-Talk User
  • 10,960 posts

Posted 06 April 2020 - 06:12 PM

I believe Mark sees an large position in shorts as a contrary indicator.  

Is this short covering?  I don't think so, it started with the futures.

https://www.siliconi...subjectid=52296



#15 pdx5

pdx5

    I want return OF my money more than return ON my money

  • Traders-Talk User
  • 9,521 posts

Posted 06 April 2020 - 10:19 PM

OK....so what does TA predict for tomorrow and rest of the week?

I expect crickets. Surprise me!


Edited by pdx5, 06 April 2020 - 10:20 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#16 K Wave

K Wave

    Member

  • Traders-Talk User
  • 25,937 posts

Posted 06 April 2020 - 11:07 PM

Looking for slightly higher tomorrow as NDX and SOX ram into first target zones.

 

After that, we will have to see how things act.

 

But if they blow through those zones, say NDX took out 8200 (8150-70ish area looks very important to longer term), then those shorts that have been building up could start to actually panic, and buyers come back at the same time, and it could turn into a crazy rebound like we just witnessed in Gold. 1 min TVIX chart looks like today was just day 1 of possible multi-day "crash" type wave there. So if it crashes back down under 100, market will likely move up strongly.

 

Hard to believe stock market could move like that, but not ruling anything out in this environment.

Rubber band got pulled way back, and the "news" that pulled it back appears to be improving rapidly with Trillions coming down the pipe...

 

If we do stall out just a bit higher, then would be looking for down Wednesday, and see what kind of damage happened there before re-assessing.

 

I am still in the camp that we just saw the fastest bear market in history, and the SOX and NDX will provide the lead out to new all time highs in the fastest recovery in history.

 

But I always have a Plan B, and if price action does not support a strong continuing up move out of last weeks swing low, then will be open to looking at bearish side of things if key levels do not hold on any decline.

 

For overnight, looking for YM 22K area to hold on a pulback.


Edited by K Wave, 06 April 2020 - 11:08 PM.

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

 

 


#17 pdx5

pdx5

    I want return OF my money more than return ON my money

  • Traders-Talk User
  • 9,521 posts

Posted 07 April 2020 - 10:49 AM

Thank you K wave for a worth reading post. Did anyone buy Carnival cruise lines under $8? It is now trading over $12.

Just read Saudi gov't bought a ton of Carnival stock.


Edited by pdx5, 07 April 2020 - 10:50 AM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule