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Let's see how low we pull back first. Long above 4390 if we don't go much lower than this.

If we can find a base on/shortly after today's Open - I'm leaning long for the day for a move to 4440 / 4460. I'm staying flexible and loose, though, so won't marry that view or chase a long right now. Good luck, all!

Save your money and build your skills while saving money to trade your own account with 1 micro if that's all you can afford. This is a hamster wheel business.

It's not that companies ain't going to earn money, but stocks have been expensive for a long time now and the entire market supported by the FED and helicopter money. With the FED tapering and raising rates - that support is now gone or disappearing. At peak - the S&P 500 was worth more than 30...

The 1st pop is often sold. Usually better to enter on the second one. Worth 7 points so far. Too risky right now to engage further, IMO. The chart is saying buy, though. Under normal circumstances, would be looking for 4440 from here, but just as likely that we drop to 4410 into the FOMC. Any...

NQ making a run for it. ES lagging. Not much going on above 20 yet, but getting there now...

NQ wants to print a new HOD intraday. I wonder if that could drag along ES, too.

NQ didn't want to give up the green daily candle. Let's see if we can pop above 20 and print 25/30 from here. Potentially, we can go a lot higher on the day, but maybe not until post FOMC, so best to not marry any opinion yet.

FBO so far. Long on the next pop above 4420. If not - may go back to mid range ~ 4410 going into FOMC.

Breaking above 20 could be a good long, but it's not entirely without risk. So, use a condom. :cool:

At 11:10 I was wondering if someone knew something, but the move fizzled out above the Open and have been sold ever since. I figure the easy money have been made for today going into FOMC, so probably as good time as any for a break. With current volatility being as it is and probably one of...

That was quite the move off the LOD. From down - 3,94 % to a green close on ES. + 0,40 % now, unless we sell off within the last 7 minutes. SPX bottomed out at 12.37 % down from top to bottom today. I'm no expert on the medium-term using charts alone, but I wonder if it's possible we could have...

Curious. What kind of stops are you guys using in this environment?

The lack of buying at 10 % down / ~ 4300 was a tell, IMO.

This is what I see short term. 1st blue line is 10 % down in the 4300 area. It seems like we're opening in that area. The short term trend and momentum is no doubt down, so would be very cautious trying to pick a bottom, but this is a zone which could trigger some buying.

4336,75 = 10 % down. 3854,75 = 20 % down. It should be interesting to observe what happens if/when we hit the 4300 zone.

To use some actual numbers, let's look at the 5 worst yearly drawdowns since 1990. This is measured from the closing price on the prior year: 2008: -49.53 % 2002: -33.05 % 2020: -32.16 % 2001: - 28.44 % 2009: - 26.18 % SPX closing price 2021: 4766,18. 10% down = 4289,50 20% down = 3812,75 30...

Could be a late bull buying from an early bull who simply wants to take profits, too. :)

I usually find that there's a good mix of bulls and bears on the boards at any time.

Negative how so? I can definitely relate to people not understanding. Even my friends who are educated in finance have little to no clue about trading. Particularly day trading. I don't have any real world people I discuss trading with because of that.