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
Posted 05 May 2020 - 10:30 AM
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
Posted 05 May 2020 - 10:55 AM
Well, they have 3T$ more to push it with. Was the shutdown political?
Posted 05 May 2020 - 11:06 AM
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.
Posted 05 May 2020 - 11:33 AM
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
Posted 05 May 2020 - 12:22 PM
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.
Posted 05 May 2020 - 12:28 PM
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.
mdgcapital@protonmail.com
papilioinvest.com
@papilioinvest
"One soul is worth more than the whole world."
Posted 05 May 2020 - 12:37 PM
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?
Posted 05 May 2020 - 01:46 PM
well the qqq just made a new recovery high. 220 is major resistance take that
out and things get real interesting
Posted 05 May 2020 - 02:47 PM
SOX was the big tip off today....GLARING divergence with NDX
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 05 May 2020 - 03:03 PM
A correction looks in the cards. I went flat on today's bounce ...............
Edited by redfoliage2, 05 May 2020 - 03:09 PM.