Got rejected by my resistance line and already dropped past the first support. Next support is where it bounced yesterday, but I wouldn't buy until I see oversold indication.
Hilarious pump and dump, when they went to dump futures, there weren;t enough stock buyers to support the huge pump yesterday. Euros are dumping on the BOE rate hike, they're not as dumb as Americans.
Don't buy the dip today, we could see 401k selling tomorrow. Wait for it to go oversold at least on short term indicators. Also watch AAPL, AAPL is the market, lol.
Hilarious pump and dump, when they went to dump futures, there weren;t enough stock buyers to support the huge pump yesterday. Euros are dumping on the BOE rate hike, they're not as dumb as Americans.
Don't buy the dip today, we could see 401k selling tomorrow. Wait for it to go oversold at least on short term indicators. Also watch AAPL, AAPL is the market, lol.
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Quad witching tomorrow to boot
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Everyone's looking at the same charts, I doubt we see a significant bounce until we hit yesterday's support.
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If there's no liquidity for futures during market hours then it could get really bad off hours trading. I wouldn't hold any long positions overnight even though tomorrow is Ponzi Friday.
That is unless NDX hits yesterday's support, then I'd consider it.
That is unless NDX hits yesterday's support, then I'd consider it.
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You gotta love it when the entire market acts like crypto, lol. Up 2% one day, down 2% the next.
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Indicators now in the middle, no indication of direction for tomorrow
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There's bound to be a bounce at yesterday's support, but I'd only play it as a day trade. I don;t go long unless MFI and/or RSI get oversold
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Tomorrow would be a better time to play the bounce considering there will be bargain hunting amongst 401k fund managers.
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If the market has topped out because of rate hikes, you may not have an out if things gap down tomorrow....
I expect a bounce but looking at AAPL daily chart leads me to think the market is done. AAPL is the market, they actually missed on earnings this quarter and the market pumped it anyways, lol.
I expect a bounce but looking at AAPL daily chart leads me to think the market is done. AAPL is the market, they actually missed on earnings this quarter and the market pumped it anyways, lol.
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There's bound to be an EOD bounce from shorts covering, I would not take that as a reversal. Would be insane to open a new position EOD long or short....
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Indicators in the middle, will post an update tomorrow morning. Gap direction will depend entirely on the Euros, I don;t think the Asians will do much with futures tonight.
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It appears the Asians finally gave up on the "buy the dip" algo. US futures were green an hour earlier even though Asia was red across the board, now red as it should be.