It sure looks like the market wants to turn up, at least for the short term. Still too many headwinds to face midterm.
Market direction
- Thread starter TraderTom1133
- Start date
Looking at the stockcharts of the indexes and individuals stocks. I do not see a reason to believe we have hit rock bottom. Practically, all the hacks on CNBC and Bloomberg say we have hit capitulation, the bottom, no risk of recession, economy doing hunky dory and have nothing to worry about and should be buying stocks. And inflation is non-existent and completely, coming down. Okay. Wake me up in 6 months. Reality might hit everyone then. A lot of things do not add up. And when hacks agree on one thing, practically, everyone of them----chances are pretty good that they are all wrong. These rallies are fueled by what they say on CNBC and Bloomberg. Give it another 6 months and see what happens.
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Sure is going up/ but sds/SPXU going up is bear market \bear trend profit. S0 SPY + sso is still downtrending....................................................................................
IF oil gets to $50 in OCT or when ever as C Citigroup is forecasting\ that's a different deal
MAYBE old but not impaired \ G Jones \ I dont need no rockin' chair, Geritol or your Medicare. From the Album Walls Can Fall LOL
Everyone who tries to predict the future, be a Nostradamus, will all be 100% wrong, inevitably, collectively.
It's all just a waste of breath, a futile attempt.
That's true. Glad I don't do that.
very short term charts and indicators. Market was how red this morning and now where are we today? I'm a short term swing trader mostly ETF's. I will be buying short term puts on MS and longer out puts on LVS this aft.
Yet you added:-
"Still too many headwinds to face midterm."
Elections are not for 4 months. Is that still short-term in your mind?
No. That's long term in my mind. I'm not an investor but a short term swing trader. Sorry. I should've been more clear. I wasn't speaking about the midterm elections. My trades seldom last longer than a few weeks.
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SAME as premarket futures; red, red.red. Same as TQQQ red, red, red.
PSQ + sh are upticking now +most all the day, as of lunch12;26cst /green so just goes to show you\ cant predict
