So if the back test on SPX 50 dma works okay today bulls still have a chance. Of course let's see what the Fed will say tomorrow regarding its rate hiking and US economic outlook.....................
Edited by redfoliage2, 26 July 2022 - 11:43 AM.
Super Critical WEEK! DOWN then UP - AUGUST rally
Started by
dTraderB
, Jul 24 2022 04:52 PM
116 replies to this topic
#42
12SPX
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Posted 26 July 2022 - 11:44 AM
and out for a 2 point profit in the end, back to cleaning my car lol!!
#43
dTraderB
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Posted 26 July 2022 - 01:38 PM
MARKET looks very CRASHHyyyyyy....
BIG PLUNGE overnight possible....
But, I am slowly building a new LONG position in stock, options...ETFs
#44
dTraderB
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Posted 26 July 2022 - 01:39 PM
anyone buying META here, 159 ??
I may start a LONG position but wait until earnings after 4pm
#45
beta
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lasergirl
Posted 26 July 2022 - 01:40 PM
This Bradley model interpretation has been correct thus far in 2022. It predicts a decline into early-mid August, likely testing the May lows:
https://time-price-r...adley Index?m=0
"Daytrading -- An Extreme Sport !"
#46
redfoliage2
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Posted 26 July 2022 - 01:58 PM
Tonight should be fine with the index futures as the Fed may say something Mr. Market will like - something similar to what Janet Yellen just said earlier in the week, assuming they share economic date and info.................
Edited by redfoliage2, 26 July 2022 - 02:05 PM.
#47
Carl
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Posted 26 July 2022 - 02:42 PM
Janet Yellen is a terrible liar
https://realinvestme...are-collapsing/
Is your opinion her step brother will lie to?
#48
redfoliage2
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Posted 26 July 2022 - 06:17 PM
Liar or not, Mr. Market listens to them.
BTW, SPX stubbornly stayed above its 50 dma line in a day it went down nearly 50 points, that I regard as a bullish sign ......................
Edited by redfoliage2, 26 July 2022 - 06:19 PM.
#49
12SPX
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Posted 27 July 2022 - 07:26 AM
Morning, one day someone is going to believe me that were in a grind grind grind mode right now and there is no set direction. All you bulls and bears are getting burned while premium just keeps ticking away. Not surprising earnings weren't to bad and for today everyone is taking them positive. For now of course, but that will all change after the Fed releases its decision and then everyone will be watching interest rates again that btw are unlikely to move that much. I've been saying forever that the Fed can't raise rates as much as everyone expects and I'm sure there will be a lot of disenters in this announcement and a great indication this will be the last for awhile, that is unless the Fed really does want a depression to start lol. Still thinking were going to rally a bit as we go into August but I guess we'll see after their announcement, otherwise we'll remain in grind mode!!! Not feeling like day trading one day before holidays so I'll just watch my premium tick away. Getting tempting to taking profits on my put sells so we'll see!!!
#50
dTraderB
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Posted 27 July 2022 - 07:57 AM
Nice rally, good profits, but I have only a relatively small LONG position --- will add more on any decline
or, I will close on any rally, wind up JULY trading with RISK OFF for rest of month, 7 consecutive profitable months
AUGUST is usually a bad month for me but I will try to keep it GREEN
This below could spike up to near max levels +300 and the drop
