Euro PMI sucked so they're finally realizing they are headed to a recession. Tanking right now.
Charts finally make sense, lol. Of course MFI has to go oversold before we get a bounce..... duh. Probably gonna be another bear flag so watch out. World is headed for a recession, and people finally get it now.
Charts finally make sense, lol. Of course MFI has to go oversold before we get a bounce..... duh. Probably gonna be another bear flag so watch out. World is headed for a recession, and people finally get it now.
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Note: The initial COVID drop left an open gap that didn't fill for over a year. Appears that gap above isn;t going to be filled any time soon
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US market does tend to reverse on a big gap down. Not chasing this gap, just gonna wait until next week to trade.
The market didn't have a bullish reaction to the Fed for the first time since POwell took office, so that threw me for a loop this week. When the market doesn't do what you expect, the best thing to do is stay out
The market didn't have a bullish reaction to the Fed for the first time since POwell took office, so that threw me for a loop this week. When the market doesn't do what you expect, the best thing to do is stay out
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Cryptos are probably gonna tank over the weekend, so no point in going long on anything until Tuesday or Wed to play the bounce
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The tank is probably over for the day because GM is down over $2, but I wouldn't hold any long positions over the weekend, Euros finally realized they're headed into a recession so the probability of a gap up is small.
If it gaps down Monday the market will fill that gap, so that's your best bet for next week. Hope for a big gap down then go long
If it gaps down Monday the market will fill that gap, so that's your best bet for next week. Hope for a big gap down then go long
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Wow, tank not done. Nobody wants to hold anything over the weekend, do not buy the dip. Just wait until mnext week so you can sleep over the weekend, lol.
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Market is oversold but before you buy anything ask yourself 2 questions:
- Which way do you think Europe will go Monday morning?
- Do you want to sleep over the weekend? (lol)
I'm actually all cash in my 401k right now, been going long only on days when I expect the market to go up based on my NQ and ES plots, so I'm green for the year. I can;t take the heartburn of holding and watching the market tank like today
- Which way do you think Europe will go Monday morning?
- Do you want to sleep over the weekend? (lol)
I'm actually all cash in my 401k right now, been going long only on days when I expect the market to go up based on my NQ and ES plots, so I'm green for the year. I can;t take the heartburn of holding and watching the market tank like today
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Possibility that the market runs into liquidity issues next week, indicators did not work during the COVID tank so watch out.
Still think gap down Monday and reversal though
Still think gap down Monday and reversal though