49 replies to this topic

[gannman]

doesnt feel like a market that wants to go into the tank

 

if we take out the previous highs for this run i thin we have 

 

a very strong rally and that is the way i am playing it 

[typicalbear]

Well, they have 3T$ more to push it with. Was the shutdown political?

[CHAx]

Pretty strange environment.  I'm finding much cleaner swing signals on 8 hour index charts, than I am on daily/hourly.  Caught the last 2 swings, with only one stopped out.  Still long this,  Stop BE 1,235 RTY futures, will take off some if we rally into the Asian session.  Agree, today is a trend day.  A good day for long scalps I would think, if you're stuck in flat position.

Edited by CHAx, 05 May 2020 - 11:07 AM.

[salam]

Well, they have 3T$ more to push it with. Was the shutdown political?

Erm

this is a global pandemic

most nations are in lockdown

Jeez, more than one nation in the world, not just USA

[gm_general]

I was expecting SPX to at least successfully test the 50 SMA which seemed very important to it. Yet it skips that and the market, which was going down due to tech news, is led up by tech. Very frustrating I was stopped out of my trading position. Will be interesting to see what happens at the next encounter with the 61.8% retrace of the crash.

[MikeyG]

IBD economic optimism forecast 35.2 actual 49.7. 

 

The biggest upside surprise on record (as fas as I can see). 

 

ISM forecast 37.5 actual 41.8. 

 

Bottom line, the economy was very healthy going into the pandemic and is rebounding faster than the consensus according to these two measures. 

[typicalbear]

 

Well, they have 3T$ more to push it with. Was the shutdown political?

Erm

this is a global pandemic

most nations are in lockdown

Jeez, more than one nation in the world, not just USA

 

 

I'm not questioning the pandemic and I never have; however, the administration did. With the market fallen to lows, they changed their position and suggested that governors shutdown. Fear got quick concessions from the Fed and trillions from Congress.  A quick shift back to work and get governors to end the shutdown. IMHO, no shutdown - no money - no market recovery - nov?

[gannman]

well the qqq just made a new recovery high. 220 is major resistance take that 

 

out and things get real interesting

[K Wave]

SOX was the big tip off today....GLARING divergence with NDX

[redfoliage2]

A correction looks in the cards.  I went flat on today's bounce  ...............

Edited by redfoliage2, 05 May 2020 - 03:09 PM.