As SPX ST support 4130 was successfully tested ................................
Edited by redfoliage2, 11 May 2021 - 11:16 AM.
Likely a Bounce in the Cards
Started by
redfoliage2
, May 11 2021 11:07 AM
30 replies to this topic
#2
redfoliage2
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Posted 11 May 2021 - 11:13 AM
I'd not be surprised to see SPX over 4200 again by the end of Friday .............................
Edited by redfoliage2, 11 May 2021 - 11:14 AM.
#3
redfoliage2
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Posted 11 May 2021 - 11:25 AM
Technically speaking I see a bad CPI has been priced in, so tomorrow if the CPI is not as bad as feared we should see a huge bounce .........................
Edited by redfoliage2, 11 May 2021 - 11:34 AM.
#4
qqqqtrdr
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Posted 11 May 2021 - 12:49 PM
I'm looking at my tea leaves... Yesterdays drop was on a high OEX Put/Call Ratio, and many investors sold bear funds on the sell-off to invest in this bounce... Based on these 2 leaves and the speed at which trading volume has declined on nasdaq I think this is a one-day bounce and we should be topping here... It looks like movement from moving money between technology and non-technology which is indicative of a top... I understand the new moon today usually correlates to a bullish week, so I don't expect much downside before Monday ( next week ), but I don't expect much upside either.
#5
redfoliage2
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Posted 11 May 2021 - 03:00 PM
Sell on the Rumor and Buy on the News. The first part was done ...............
Edited by redfoliage2, 11 May 2021 - 03:01 PM.
#6
slupert
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Posted 11 May 2021 - 06:20 PM
I think so to, I bought the close.(JMHO) Good Luck!
#7
da_cheif
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#8
slupert
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Posted 12 May 2021 - 05:40 AM
Technically speaking I see a bad CPI has been priced in, so tomorrow if the CPI is not as bad as feared we should see a huge bounce .........................
believe it or not, some are now saying, this CPI will be the high one of the year, then cycle heads down. They have said this before about inflation during this cycle, but not at market highs. Another thing is, we could enter a 150 point trading range, have seen rnages that tight before.
#9
12SPX
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Posted 12 May 2021 - 07:48 AM
Doesn't seem to have liked the cpi data so wasn't a buy on the news day. Will be interesting where were at at the close..
#10
redfoliage2
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Posted 12 May 2021 - 08:49 AM
The Fed sees the inflation is transitional, this may well be the peak of it .......................
Edited by redfoliage2, 12 May 2021 - 08:50 AM.
