Gotta love ZERO RISK in the SP500 = $$$

For the week, I managed to get that big 1000 point drop that i mentioned yesterday....but reduced my gains by taking lots of crappy little trades.

Big swings make the big money...all else is pocket money.
 
MKTrader said:
Yep, and textbook bottom on the daily charts: S&P 500, Russell 2000 and other indexes tested 200-day MAs and bounced up violently, hammers all over the place, high volume all week indicating capitulation, etc.
More...

Or dcb retest of 2640/50 before breaking below 2530 as the 15 min pattern becomes a large descending triangle. In a declining market the first test of 200 day almost always holds the first time. It's the second test that becomes critical.
 
This is insaneeeeee.....22,000 points the Dow has traveled in the past 5 days!!!!!!!!!!

Dow travels more than 22,000 points in one of the wildest weeks since the financial crisis
  • The Dow Jones industrial average posted its worst week in two years. Earlier in the session, the index was on track for its worst week since October 2008, during the financial crisis.
  • The stock index has traveled more than 22,000 points this week in a volatile few days that kicked off Monday with the Dow's biggest closing point drop on record.
  • Stocks are falling as traders worry about rising interest rates, and volatility as measured by the VIX has jumped to its highest since the market turmoil of August 2015.


Dow Jones industrial average points traveled
As of the close Friday, Feb. 9, 2018.

Day Points traveled
Monday 5,113
Tuesday 5,460
Wednesday 2,886
Thursday 3,369
Friday 5,425
TOTAL 22,253



https://www.cnbc.com/2018/02/09/dow-travels-20000-points-in-wild-week.html
 
S2007S said:
This is insaneeeeee.....22,000 points the Dow has traveled in the past 5 days!!!!!!!!!!

Dow travels more than 22,000 points in one of the wildest weeks since the financial crisis

Day Points traveled
Monday 5,113
Tuesday 5,460
Wednesday 2,886
Thursday 3,369
Friday 5,425
TOTAL 22,253
More...

The slight irony and coincidence....the Dow market has basically traveled to Space and back, o_O
On the same week the Falcon Heavy rocket was launched.
 
Does the fact it actually breached the 200 DMA today in the cash market, give you pause that it will go lower? It bounced pretty hard off the 200 DMA, but it did breach it. Today's bounce higher could be for opex today. Next week do we resume down and re-test 200 DMA or not?

Also, any chance we see 2300 soon? We can reach 2300 first and still get to 3000 by year end following in the longer term channel. 2300 will be a massive shake out from here. People are already buying the dip right here from the 200 DMA to 2600. So further downside to 2300 will really shake out weak hands. No one expects 2300. At 2300 you capture the permabears in a bear trap too, since it looks like a bear market at that point and is when they start piling in.
 
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