looking like today may come down to whether AMZN can hold low of day...or not...
The Elusive BOTTOM - bulls floundering as QT begins
Started by
dTraderB
, Jun 05 2022 06:13 PM
263 replies to this topic
#61
K Wave
-
- Traders-Talk User
- 27,047 posts
Member
Posted 06 June 2022 - 11:24 AM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#62
pdx5
-
- Traders-Talk User
- 9,529 posts
I want return OF my money more than return ON my money
Posted 06 June 2022 - 11:26 AM
Today's swift plunge from that 4160-70 zone is
VERY BULLISH
LOL
VERY BEARISH
ES 4200 high last week -- highest HIGH in recent times
ES 4160-70 strong resistance today, lower HIGH today, so far
ES 4125-30 Strong support/resistance zone
If ES does not close above the above, starting from 4125-30 THEN NEW LOWS for 2022 is most likely
Today's swift plunge from that 4160-70 zone is VERY BULLISH
Can the BULLS save it today? does not seem so, as I see it at 12:12 pm
LOL I had to put away my Margarita after reading it was Bullish haha
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#63
pdx5
-
- Traders-Talk User
- 9,529 posts
I want return OF my money more than return ON my money
Posted 06 June 2022 - 11:30 AM
Boys and Girls, based on inflation experience from previous years,
there has not been quick fixes to bring inflation down.
Even when Volcker raised interest rates to well over double digits, it took several months for inflation to taper off.
https://www.investin...tariffs-2834001
Looks like traders are operating in sell the rallies mode.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#64
K Wave
-
- Traders-Talk User
- 27,047 posts
Member
Posted 06 June 2022 - 11:31 AM
And finally Rusty red....
Big moment now...either Rusty gets up some steam after the Gap fill, or we have a classic bearish throwover on our hands...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#65
K Wave
-
- Traders-Talk User
- 27,047 posts
Member
Posted 06 June 2022 - 11:38 AM
BRK making almost no headway off the 310 pivot...
what happens next there could be big.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#66
redfoliage2
-
- Traders-Talk User
- 18,062 posts
Member
Posted 06 June 2022 - 11:53 AM
Now bouncing back up after filling the opening gap ..................
Edited by redfoliage2, 06 June 2022 - 11:55 AM.
#67
12SPX
-
- Traders-Talk User
- 12,698 posts
Member
Posted 06 June 2022 - 12:05 PM
Dang was putting on my stop for 4126 and it hit right away. Have to go to tennis so I'll let you know how the rest of the day goes, likely start a long build a little lower...
#68
redfoliage2
-
- Traders-Talk User
- 18,062 posts
Member
Posted 06 June 2022 - 12:44 PM
Now bouncing back up after filling the opening gap ..................
Still a classic day >>> going higher in the afternoon after filling the opening gap. Let's see if SPX to revisit the high of day by the close .......................
Edited by redfoliage2, 06 June 2022 - 12:47 PM.
#69
K Wave
-
- Traders-Talk User
- 27,047 posts
Member
Posted 06 June 2022 - 12:56 PM
rusty back up too 1895 zone....now we see if bull can punch through 1900 or not...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#70
redfoliage2
-
- Traders-Talk User
- 18,062 posts
Member
Posted 06 June 2022 - 01:02 PM
It looks that bulls had launched a counterattack in the afternoon .................
