we have a big gap up and a lot of air underneath. I hate seeing that before Fridays number, lets see what they do today and after tomorrows number. Let's take an honest look at what happened today. The futes came with in about a handful of testing 3300 once again. (i don't remember the number) A lot of shorts got caught offsides in the premarket, and they got jammed. (Dow 540 up, while I am writing this. Some of this is short covering some, is EOQ money. So, nobody should think the all clear has been sounded. (JMHO)
Todays close will be very important
Started by
slupert
, Sep 30 2020 01:21 PM
2 replies to this topic
#1
Posted 30 September 2020 - 01:21 PM
#2
Posted 30 September 2020 - 02:47 PM
You are probably right short term. Intermediate or long term, a bear market will not be allowed by the FED and politicians so long as covid-19 is doing it's thing.
Edited by pdx5, 30 September 2020 - 02:48 PM.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#3
Posted 30 September 2020 - 05:59 PM
Big cup formation on TQQQ going back to the 15th. Expect a Bit more chop next to get the right shoulder finished.