Well there is futures ATH and futures RTH, the market is biased to bounce RTH unless maybe a nuke goes off over the weekend.I'll short around 3030 as per plan
But thanks Mickey for caring about my survival.
ES Journal - 2019/2020
- Thread starter Buy1Sell2
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RTH ?
Guess 3030 is a safe short,
At worst trend turned bullish
In this case I expect a pull back.
At best a double bottom around 2850.
You didn't get the message ?
Any one follow Sang Lucci? The dude plays day options in 100 lots . He dropped $140k today and one day a few weeks ago dropped $400k trying to short nflx with daily options .The news pretty bleak on the cornavirus virus since the mkt closed . South Korea's #'s going wild to the upside and Iran's death rate exploding . Also a crazy crash in China's Pmi . We'll see what Sunday night brings . Only the nimble survive in this game.
So, this week closed down - 11,47 % on SPX. I find that since 1979 - this happened only 4 other times. In other words - quite rare.
3 of those 4 weeks closed higher the next week. And traded higher and sideways for a few weeks before finding new lows.
The exception was in October 1987 where the next week was another down week (- 2,87 %) which marked a long-term bottom.
The last time it happened prior to this week was in October 2008, but by then, we were already down over 40 % from the top.
The most interesting parallell is April 2000. This is the only week that dropped this much in one week off an ATH.
3 of those 4 weeks closed higher the next week. And traded higher and sideways for a few weeks before finding new lows.
The exception was in October 1987 where the next week was another down week (- 2,87 %) which marked a long-term bottom.
The last time it happened prior to this week was in October 2008, but by then, we were already down over 40 % from the top.
The most interesting parallell is April 2000. This is the only week that dropped this much in one week off an ATH.
[QUOTE="Laissez Faire,
The most interesting parallell is April 2000. This is the only week that dropped this much in one week off an ATH.[/QUOTE]
suppose 3397 is the PB High
if PB% =20%, then the PB low is about 2718
if PB% =30%, then the PB low is about 2378.
very interesting to compare with April 2000 for monthly, weekly and daily chart.
the only day i got is : 2/28/2020 after searching for days when GAP Open and GAP(EMA20, EMA100) >= 5% for 5000 60m bars. (same direction: for example, when ema20 < ema50, gap open down; RTH chart)
The most interesting parallell is April 2000. This is the only week that dropped this much in one week off an ATH.[/QUOTE]
suppose 3397 is the PB High
if PB% =20%, then the PB low is about 2718
if PB% =30%, then the PB low is about 2378.
very interesting to compare with April 2000 for monthly, weekly and daily chart.
the only day i got is : 2/28/2020 after searching for days when GAP Open and GAP(EMA20, EMA100) >= 5% for 5000 60m bars. (same direction: for example, when ema20 < ema50, gap open down; RTH chart)
Nice observation.
Weekly chart: after that big drop week, in april 2000, tried to reach the top 1574 three times, but all failed by having lower high; 2 week closed below EMA(52) including the big drop week, then a higher low. When the third time closed below EMA(52), the bear market started. Until 4/28/2003, only one week in 10/2000 closed above EMA(52). What will be happening now? need more information.
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