Oil beginning to threaten SIFs

The stocks most succeptible to getting whacked hard today on a selloff to 1225 SPX are pretty obvious and should be on your screen, e.g., AA, CHK, SPG, EQR, etc.

nitro
 
There is a short term trendline break to the upside in SPX. Best not to sell at this point unless we weaken below it. That area is dynamic, but as of this writing the TL support is 1250 SPX, which means a break of 1250 is weak again.

Imo, this is a difficult day and probably will/has caused lots of whipsaws.

No matter what, it is probably wrong to sell short ES with NQ green.

nitro
 
Quote from nitro:

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Imo, this is a difficult day and probably will/has caused lots of whipsaws.

nitro
More...

Yep, I am one of them.

Incredible.

nitro
 
This late drop is probably QM exploding to the upside, which is probably indirectly due to Iranian missile tests. It finally broke NQs back. :confused:

Just as it is wrong to sell ES with NQ green, it is wrong to buy ES with NQ red, except at major support points, which we are nowhere near.

If this sells off hard from here on in to the close, there are tons of stocks that have lots to give back.

Gawd only knows.

nitro
 
Imo, you have to be insane or a sage to trade SIFs here. It is completely random, with massive swings. I don't like short, and I don't like long.

Stand aside until 1225 SPX.

nitro
 
Put up an SPX 5 minute chart for the last two days. Look at the price action intraday. Whether the market is heading up or heading down, there are "waterfall" patterns all over the place. By waterfall, I mean some trend up/down, followed by some trend down/up, so that the pullbacks look like a movie of a ball bouncing within the trend [obviously on the way up, you have to turn the chart upside down since balls don't gain energy on each bounce.]

It is interesting and I wonder if anyone has ever done a study of it as to how it relates to market psychology.

nitro
 
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