Nasdaq found strong support at the 200 dma ( again )

K

kingtrade

The 200 dma was held again for the nasdaq, this is the second time this week that it held. Lets see what happens next week because a break below on a closing basis means much more downside.
 
Man, buying that new high in late November -
that's like an advertisement for prudent stop placement.
https://stockcharts.com/h-sc/ui?s=$COMPQ
nq 2022 0114 d .jpg
 
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It will be interesting to see if it holds again this week. Earnings start to come out and there will be a lot of volitility. A decisive close below the 200 dma means a lot more downside for ghe naz.
 
Pricechange said:
That Nov new high was one hellva BULL TRAP. They lured them in and dumped their shares on to them as it made the new highs. Epic transfer to the short bus. Goldman probably dumped 40% of its long tech positions right there.
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That's just hindsight combined with your usual overly bearish outlook on markets ( I could bring up what you said in late 2016 about markets ). I wonder how many supposed "bull traps" have occurred in energy in recent months yet here we are at $86 WTI. I could just as easily pick out a spot in September that was a BEAR TRAP. Maybe when Calhoun said "BullsAreFked".
 
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Nine_Ender said:
That's just hindsight combined with your usual overly bearish outlook on markets ( I could bring up what you said in late 2016 about markets ). I wonder how many supposed "bull traps" have occurred in energy in recent months yet here we are at $86 WTI. I could just as easily pick out a spot in September that was a BEAR TRAP. Maybe when Calhoun said "BullsAreFked".
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RSI Divergence was tapping traders on the shoulder at that nov high telling them.
 
Nine_Ender said:
That's just hindsight combined with your usual overly bearish outlook on markets ( I could bring up what you said in late 2016 about markets ). I wonder how many supposed "bull traps" have occurred in energy in recent months yet here we are at $86 WTI. I could just as easily pick out a spot in September that was a BEAR TRAP. Maybe when Calhoun said "BullsAreFked".
More...

I'll reiterate "bulls are fkd" :D
 
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