latest Rally

Jdesey said:
we have just had the second rally of 4 days on S&P 500 this year. The last one was followed by more downside. S&P did break both the 20 day EMA and 50 day EMA, but that is not new. I just am not buying this rally, not only has nothing changed , but things are worse. Since that last 4 day rally that started on Jan 28 , we have the Ukraine war and now a Fed interest rate hike. Plus, we never got to a 20% correction on SP or DOW, although NAS did. This week will be interesting and we will see if this rally has any real traction or is another short lived thing. View attachment 280635
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This rally is supposedly due to some signs of de-escalation in the Ukrainian war and also the fact that the raising of the interest rate by the fed would help dampen inflation. Is the rally really short-lived or is it truly a reversal? Only time will tell you. One thing you need to keep in mind though, the market is not required to touch a certain level before reversing. All those "levels" or certain % correction or whatnot are not set in stone and in most cases self-fulfilling prophecy. If the market wants to reverse, it can reverse at any time and if it doesn't want to reverse, it will still continue on the existing trend even if a certain level is touched. This is what it means by keeping an open mind by not having a conviction and just trade with the flow.
 
Powell who said inflation was transitory is now saying this


Dow slides to lows of the session after Powell says inflation is too high


Oooops



Looks like they should have done 1% move but instead they like to give wallstreet what they want. So they raised only .25%%.

 
go bears. bulls r fkd we were RIGHT! im fkg crushing SQQQ UVXY today :D

bwahahaha
uvxy21marr.jpg


SPY looking butt fugly lol
spy21marr.jpg
 
Overnight said:
Oh nos! Don't tell me we've lost Noob to the bear side also?! So much negativity. Frak.
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Wow. You're the only other person in the world I've seen that uses Frak. seriously. gogo bsg.


and from br Ardala or Deering? :D
 
KCalhoun said:
The last several times the market bounced this much it immediately flipped back down.

I'm both long and short-bias the market, long = ACB CGC DKNG SPCE etc, inverses = UVXY SQQQ
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%%
I"M not 200% sure what you are doing with SQQQ , but most likely you profit on the sqqq long side[makes profits off bearish QQQ/LOL]
SDS is going up again/ don't know if i have time to get in later \good thing i did not start long scale in TQQQ today\ almost did.:D:D
I don't front run 200dma much unless i pretty sure of the trend.
 
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