Did the stock market just hit a brick wall?

[Corky5]

Has the tide turned? Will we see a big retracement?

 

[Metamega]

Wish people stop with this. Haven’t looked at markets since the open and was wondering what the heck I missed. 1.2% move is more of a beginning of a pullback then a wall.

Kind of worried me for a bit as I didn’t see any alerts.

 

[Overnight]

Wish people stop with this. Haven’t looked at markets since the open and was wondering what the heck I missed. 1.2% move is more of a beginning of a pullback then a wall.

Kind of worried me for a bit as I didn’t see any alerts.

1.2% in what? Oh, you mean SP. Never mind the NAS 2.3% drop then.

Never mind that in equivalency, a 40 point drop in ES, your 1.2% drop is $2K per contract. In NQ, 2.3% drop (~250 points) is about $5K per contract. Don't sweat the details?

 

[Same Lazy Element]

Never mind that in equivalency, a 40 point drop in ES, your 1.2% drop is $2K per contract. In NQ, 2.3% drop (~250 points) is about $5K per contract. Don't sweat the details?

In fairness, most people care about the broad market, ie spooz. Also, actual dollar move on some random contract is kinda irrelevant - what makes sense is scaling the move by the relative volatility, like NDX moves roughly 1.3-1.5 times the spooz.

Anyway, I think we saw some serious profit taking in tech today but nothing to suggest an upcoming end of the world.

 

[LanceJ]

Earnings from the Dow 30 and Nasdaq 100 have been lackluster the last two weeks. Even without guidance, I can see that companies are not performing well compared to their prior reports.

 

[murray t turtle]

Earnings from the Dow 30 and Nasdaq 100 have been lackluster the last two weeks. Even without guidance, I can see that companies are not performing well compared to their prior reports.

Good down move while it lasted/qqq/sqqq;
QQQ tends to outperform dow, regardless.I get more guidance from a 2oo/50 day moving average on qqq.
Some in markets look ahead 6 months; but summer rally tendsto be weaker than 1st + last quarter...……………………………………………………………………………………………………………..BA looked like a trainwreck but we will see.