Gotta love ZERO RISK in the SP500 = $$$

A weekly ES chart really shows how far we have come. We could sell off to ES 2100 and still be up huge. As a matter of fact 2100 is a major major support area. Technically we are still in an uptrend.

ES WEEKLY.jpg
 
More than $85 billion in value wiped from the popular 'FANG' tech stocks
  • Amazon, Alphabet, Netflix and Facebook shares all fell by more than 3 percent Tuesday.
  • The total value lost from FANG stocks was $88.4 billion.
 
Rickshaw Man said:
A weekly ES chart really shows how far we have come. We could sell off to ES 2100 and still be up huge. As a matter of fact 2100 is a major major support area. Technically we are still in an uptrend.

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This market really has the feel of a controlled demolition. Snapback rallies, sideways congestions, then another hammer down...And then those overnight rallies you've illustrated for years start the process anew. All of that selling that would hit the tape on the open (in a weak market) can be absorbed temporarily to fill a gap...Been watching this process for years.
 
KevinD said:
This market really has the feel of a controlled demolition. Snapback rallies, sideways congestions, then another hammer down...And then those overnight rallies you've illustrated for years start the process anew. All of that selling that would hit the tape on the open (in a weak market) can be absorbed temporarily to fill a gap...Been watching this process for years.
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Yep, that magic overnight rally.
 
S2007S said:
I feel a large upswing coming....just saying


Sold off TVIX and QID today...bought some UDOW at $82!
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I think a case can be made for some sort of squeeze just based on some of the big tech stocks reporting in the next few days.
 
Rickshaw Man said:
A weekly ES chart really shows how far we have come. We could sell off to ES 2100 and still be up huge. As a matter of fact 2100 is a major major support area. Technically we are still in an uptrend.

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Exactly, the perma bullys have been spoiled for far too long now... these long terms charts really puts things in perspective... I had a kid here that`s been PMing me relentlessly about when "the Crash" will be over so he can get back to "normal" trading.
 
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