Kudos to MMs
- Thread starter nitro
- Start date
You gotta stop being so optimistic!
Zero edge here imo. "FV" maybe 820 ish at best.
Imo the most important thing people will have at the forefront of their minds is 800 SPX, and then whether the low of approximately 742 holds.
I don't know what you all think about yesterday. To me, as I mentioned above, it felt like 2% of the down move was redemption. It had all the footprints of that animal. Therefore, on that argument alone (granted, not much of an argument) we are at least 2% oversold in the short term.
Imo the most important thing people will have at the forefront of their minds is 800 SPX, and then whether the low of approximately 742 holds.
I don't know what you all think about yesterday. To me, as I mentioned above, it felt like 2% of the down move was redemption. It had all the footprints of that animal. Therefore, on that argument alone (granted, not much of an argument) we are at least 2% oversold in the short term.
I am beginning to believe that we are finally seeing bottoming action. If it were not for C and BAC, the recent action in SIFs, together with the fact that as I write this ES and YM has gone red, but NQ is holding and wants higher, leads me to feel optimistic at first approximation about the market overall.
This doesn't mean go long here. It means I believe we are farther along in the process of the final flushing than at least I thought we were.
"Bad bank/Good bank" may be the final nail in coffin to the downtrend.
This doesn't mean go long here. It means I believe we are farther along in the process of the final flushing than at least I thought we were.
"Bad bank/Good bank" may be the final nail in coffin to the downtrend.