Market Meltdown WTF

[ksonsinc]

Well it look like the ES is having a strong resistance at 1303.25
and when ever it reach it it bounce back if it brake 1303.25 i think we are going lower

 

[El OchoCinco]

I think the market just farted really. Both support points on the SPX and ES have held and we still got 2 more hours left.

Basically we have gone nowhere since the January 11th SPX high of 1302 with some fun swings thrown in

 

[chewbacca]

farted yes...perfect analogy hopefully the gas clears up in the next to hours

watch TLT

 

[chewbacca]

look at the long term for TLT - what kind of gap is that exhaustion? capitulation? what?

 

[krazykarl]

Quote from chewbacca:

look at the long term for TLT - what kind of gap is that exhaustion? capitulation? what?

bonds look like they're going to puke.(very tired)


bulls are coming.

 

[Buy1Sell2]

Quote from ksonsinc:

Well it look like the ES is having a strong resistance at 1303.25
and when ever it reach it it bounce back if it brake 1303.25 i think we are going lower

It does keep trying that area- Plenty of time yet for a break through. I am not calling that , but a test of 1300 wouldn't be out of the question I wouldn't think. A close below last weeks close I think creates chart damage.

 

[chewbacca]

its over, the markets couldn't even manage a dead cat bounce today. we won't see new highs for a long time now.

 

[Bitstream]

wait, patience, hope da last to die..

by da way we up 0.10% since start of week on all da indexes.....so far

 

[loufah]

When was the last time SPX had an intraday trading range like today's (approx. 20)?

 

[asterisk]

I think we'll see higher volatility from here - however you measure it - VIX, variance, range. My guess is that VIX will exceed 20 before the end of the year - and this will catch a lot of people who are short volatility off-guard (mostly covered call writers who might not realize that doing a covered call is essentially the same as being short a put)