Futures tumble. S&P below 3600. Don't panic! :-)

[earth_imperator]

"
Futures Tumble, Briefly Drop Below 3,600, Despite Latest Panic Pivot By Bank of England

BY TYLER DURDEN, TUESDAY, OCT 11, 2022 - 02:07 PM

Another day, another rout, only this time there was an even more ominous twist. It's shaping up as another risk off day on Wall Street, and around the world, as stocks fell... again... as usual... pressured by the relentless rout in the chip sector (following Friday's decision by the Biden administration to put fresh curbs on China’s access to US semiconductor technology) which sent chip giant Taiwan Semiconductor plunging 8.3%, its biggest drop on record, and wiped out $240 billion in market cap from the global semiconductor sector, while US futures extended their Monday slump amid general amid fears of persistently high inflation two days ahead of the CPI report, and signs that company earnings were set to disappoint. A gauge of the dollar climbed to the highest this month before reversing.
[...]
"

Taiwan's best "friend" USA just let Taiwan bled $240 billions!... ROTFL!
Who at all needs any enemies with such "friends" like this dumbo USA?...

S.a.
https://finance.yahoo.com/quote/TSM?p=TSM
https://finance.yahoo.com/quote/ES=F?p=ES=F

 

[maxinger]

Who cares!

Only the investors from eliteinvestor.com are panicking.

As long as the market moves, we will seize the trading opportunities.
The bigger the move (up or down we don't care), the better it is for the traders.

 

[earth_imperator]

Like I said: Don't panic! ....

 

[maxinger]

Like I said: Don't panic! ....

Yes Sir !

actually, the recent TSMC drop of $240 billion is very trivial.
Those professional writers
failed to look at things from a bigger picture, and they
like to blow things out of proportion.


TSMC peak was 97 on Jan 2022.
It dropped very massively to 49 two days ago.

Then it dropped very slightly to 44 which is the current price.

 

[smallfil]

Lots of trading opportunities. Just waiting for the setups to trigger.

 

[Laissez Faire]

We're far from seeing any panic yet.

Hungry dip buyers showed up below 3600, though. Can't rule out an attempt to put in a double bottom here.

 

[CannonTrading_Ilan]

3571.75 is the nearest major support and recent low.

 

[mervyn]

It will go below 50 in no time, dead cat walking. Both Biden and Thai kill it.

 

[Laissez Faire]

3571.75 is the nearest major support and recent low.

I'm eyeing that level, too. It's the year low in ETH/24/7 charts. Cash charts are in nowhere-land, though. With no major support until 3500.

The problem is there's no real panic, though. So this isn't an easy short by any means. The last time we made new lows on the year it was a mess.

 

[notagain]

ES is right at the 200 week moving average support.