370 replies to this topic

[K Wave]

Utes...what happens next here may decide the whole thing...

 

Bulls desperately need hard up...and soon...

 

[K Wave]

Here comes the test of the big line on Dow...

[12SPX]

I get what your saying d but the big difference is this is just the second year of the everything bubble implosion.  There is a huge possibility for the market to see an additional -25% haircut to get the final low around -50% sometime this year but do agree we could finish higher but only about +10% in the end.  The grind will continue until we see that sharp sell off, fast rebound and then grind our way to a high on the year.   Everyone has predictions and the market rarely acts exactly as they say and its impossible to put dates on moves, you might as well but a lottery ticket as its about the same odds so I don't have a clue when it will happen just think it will sometime this year lol!!  We could also just grind lower and lower or grind higher and higher who knows, this is why I prefer option selling it never matters where the market goes and that is 90% of my trading so I don't really care but for my trend trading I think we'll see more downside before we see much more upside and maybe it will be this earnings quarter that will set it off we'll see.  Most important thing is its always fun and everyone respects everyone's opinions!!!

[K Wave]

Naz still holding up better. See if they can jam it right up to the round number into Microsoft....

Edited by K Wave, 24 January 2023 - 10:00 AM.

[K Wave]

REIT gets the bounce off of 2340. Huge pivot there now.

See if bulls have the horsepower to get it up to 2400 here now.

[dTraderB]

Yeah, insane illogical market behavior earlier today:

GURGAVIN (@gurgavin) tweeted at 11:32 am on Tue, Jan 24, 2023:

NYSE SAYS IT IS INVESTIGATING ISSUES THAT RESULTED IN A LARGE NUMBER OF UNUSUAL STOCK HALTS

(https://twitter.com/...908235713019905

[dTraderB]

started new LONG NAT GAS POSITION
3.158

[K Wave]

My time window for a top is today's close or tomorrow sometime.

 

So far REIT and Naz seem to be on target for that.

 

IF bulls can hold it up past that, then they could start to turn the tide...

[K Wave]

Bottom line: if REIT not back below 2340 within 2-3 days, and Dow not back below 33.4 K pivot line, bears window may close.

[redfoliage2]

I see the market is likely to go higher before the earnings season ends, it's the seasonality .............................

Edited by redfoliage2, 24 January 2023 - 12:06 PM.