Told you it would be a flat day, as flat as an ironboard. This is what the market does nowadays. It's a huge move (relatively) and then it takes a breather the next day. It rarely has two huge-move days back-to-back.
Coming Aug 29th: Black Monday or Bounce Monday?
- Thread starter KCalhoun
- Start date
Told you it would be a flat day, as flat as an ironboard. This is what the market does nowadays. It's a huge move (relatively) and then it takes a breather the next day. It rarely has two huge-move days back-to-back.
Yep. and the algo's have to let the dust settle and reposition for the next move to take the most money from the naive, ie.... 64% of the players near term.
Long term,17% more when that dust settles.
SP500 Analysis
According to my analysis the SP500 should correct upwards on Monday 29th August 2022, these was a reversal cycle on the 28th August 2022. This is the chart and price level I was looking for on the SP500.
My expectation is that that the next retrace will last for about 46 hours from the low made on Monday. At the moment it is too soon to calculate a price level but, as the SP500 comes into the time for the turn I will present a chart with the Gann arcs I created.
The fall on friday I nailed
According to my analysis the SP500 should correct upwards on Monday 29th August 2022, these was a reversal cycle on the 28th August 2022. This is the chart and price level I was looking for on the SP500.
My expectation is that that the next retrace will last for about 46 hours from the low made on Monday. At the moment it is too soon to calculate a price level but, as the SP500 comes into the time for the turn I will present a chart with the Gann arcs I created.
The fall on friday I nailed
That seems like gambling to me. Good to see you back in the saddle so soon. That was a quick "few months off"What do you think? More importantly, how will you trade it?
If bullish I'm trading China YINN KWEB and solar RUN long.
If bearish, SQQQ SOXS UVXY
I went long 20k+ inverses into the weekend.
So, one week later we have the conclusion.
Monday wasn't the bloodbath everyone was expecting. Down 1.03 % at the LOD and closing down 0.67 % on the day.
The week as a whole closed down 3.29 %.
There doesn't seem to be much of a bid in this market and structurally this looks very much like a solid down trend still. If I were to guess, I'd say we're going lower still.
Monday wasn't the bloodbath everyone was expecting. Down 1.03 % at the LOD and closing down 0.67 % on the day.
The week as a whole closed down 3.29 %.
There doesn't seem to be much of a bid in this market and structurally this looks very much like a solid down trend still. If I were to guess, I'd say we're going lower still.