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Agreed, I have left a medium sized short plus a couple of puts on just in case, but took off about half of my shorts.

Yeah good shout. I cant see the SPX dropping below 3900 without a fight now.

All hell is breaking loose

He said "going into", not "at".

I would say that higher time frames work better for trading around news. For day traders, without a confirmed edge for trading around news, its better to stay away during news. Or at the very least manage position size and stop distance around an increased ATR. Generally, I have been very...

Got to be the start of the next leg down now surely?

Exactly, but the fact they keep coming back for more pain just shows how far from capitulation we are still.

100% agree. But they wont want to redistribute wealth ever. I even suspect that raising interest rates will increase the buying power of the rich which in turn could raise inflation further. Not the best source, but I watched a youtube video where someone mentioned that throughout history the...

That's not even the same index

So you are expecting the tqqq to either go up or stay flat?

I think I was close enough. Lets see if the momentum carries on further from here

Below is what I am talking about. Apologies for the messy charts but that is just my nature.

If you draw the same chart using the SPX, it looks like the SPX broke down below the uptrend line, even though the ES remains above the line. Which chart has the most significance? NQ also broke down below the line too.

So in order to be a bullish day. The initial jobless claims will need to come in higher than forecast right? Do jobless claims typically go up in December just before Christmas?

You think we will break out of the downward channel then?

Yeah i wonder if these current moves are bull traps

Yeah good plan! Short and long term at the same time.

Filled to go long or short? I went long just now for the gap close.

SunTrader recommending that people follow the trend is awesome info to pass along to people. It straight away increases the long term chances of success overall. Going against the trend and relying on luck creates bad habits. Having said that, I think going long in that particular situation was...

Yeah I reckon 3988 level and then a big drop again.