The Market Is in a Consolidation/Correction

I see this is more likely just a VST over-sold bounce ...............................

Edited by redfoliage2, 21 April 2021 - 01:46 PM.

 

Try  and scalp the nq's at 13 870. for a look. (JMHO)

took a few points, not enough movement.

 

Flat.

The internals improving today as there still no short of dip buyers ............................

I think so too, this week may or may not be the top, but its pretty close. Any positions I take I always trade around them today. I always talk about my LT csx investment, got a free pass today on possibility better times are coming. DID NOT EXPECT ANY FREE PASSES THIS EARNINGS SEASON! COULD BE A GAME CHANGER.(JMHO)

Looking at all my Tea Leafs we are at or close to a Medium Term Top.    This is Put/Call, VIX, Timing...  Looks like a 10% correction in the S&P around 3702 at best guess...

 

The internals improving today as there still no short of dip buyers ............................

I think so too, this week may or may not be the top, but its pretty close. Any positions I take I always trade around them today. I always talk about my LT csx investment, got a free pass today on possibility better times are coming. DID NOT EXPECT ANY FREE PASSES THIS EARNINGS SEASON! COULD BE A GAME CHANGER.(JMHO)

 

Nice gain today!

Rydex Ratio is close to a all time low, and is alluding to not many people or shorting this market, and low amount of $$$ in money market as well, so if we have dip buyers, what are they using for money, unless it was from the sale of bitcoin last week.

04/13/2021

In March, the Consumer Price Index for All Urban Consumers rose 0.6 percent on a seasonally adjusted basis; rising 2.6 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.3 percent in March (SA); up 1.6 percent over the year

April 2021 CPI data are scheduled to be released on May 12, 2021, at 8:30 A.M. Eastern Time.

Even though with today's bounce the recent consolidation/correction is not over yet. This bounce is likely to be sold soon  ......................

Edited by redfoliage2, 21 April 2021 - 06:02 PM.

c waves gettsem every time ...watch the sky

Edited by da_cheif, 21 April 2021 - 06:51 PM.

I'd be surprised to see this time it's done without a wave c .............................

Edited by redfoliage2, 22 April 2021 - 08:51 AM.