The Naz just closed under the 50 day moving average on good volume.
This is going to fall a lot more.
This is going to fall a lot more.
Nasdaq just closed under the 50 day moving average
- Thread starter derektrader
- Start date
Expected this last Thursday and it started back on time, we are all downtrend here across the board, Fed is likely selling to buy back later after the election.
Put Trillions in not to save it, but to make a huge profit then screw everyone over, pushing people more and more into debt and bankruptcy, yeah 2020!!
Put Trillions in not to save it, but to make a huge profit then screw everyone over, pushing people more and more into debt and bankruptcy, yeah 2020!!
Yes, but just barely. Could also be a "tombstone doji". (indicative of possible bottom).
The Nasdaq could also bounce off that 50-day moving average, resume its uptrend quietly and trap all the short sellers who bet on a hypothetical crash...
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The good thing about day trading is that we don't bother about
7/49/50/100/200/1000 ... day MA.
We don't care whether it will be support or resistance.
Because our charts have nothing other than candlesticks.
The market doesn't care about the MA too.
It goes where it wants to go and nothing can stop its
intention.
7/49/50/100/200/1000 ... day MA.
We don't care whether it will be support or resistance.
Because our charts have nothing other than candlesticks.
The market doesn't care about the MA too.
It goes where it wants to go and nothing can stop its
intention.
Some traders I know make a good living daytrading with simple 50 and 100-period moving averages on the 5 min charts.
There are plenty of mini trends that day-traders can capture during the day, using nothing but moving averages, price action and/or candlestick patterns.
Actually it does... often, with the 50 and 200 day averages... which is why everyone should know where the market is relative to those two.
Im betting we close down again today.
Today the Asians have pushed NQ up.
And the Europeans have pushed NQ up too.
Who knows, the Americans will push NQ up too.
And who knows, it might go down or side way.
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Now it is above. Run around and flap your arms while you place your "bets". 
The bounce was the high percentage short term bet. After that, see how it goes....
The bounce was the high percentage short term bet. After that, see how it goes....