S&P Futures Opens Down 20 Points!

Unless the bottom line is breached, we're still not completely out of the woods yet.

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I think we need thousand of bodies int the US to get some action in the market.
That -1%ES futures seems more like fill the gap and new highs!
 
Deez said:
I ask this with all do respect, why do you use the trend channel as a basis for market direction? Isn’t TA hindsight analysis that doesn’t have any impact on future price?
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There's some significance in the psychological effect of TA by virtually everyone doing it. It has no merits other than the fact it works by virtue of the entire market believing it works.


S&P is down at nat gas opened way higher after being a rocket ship downward. Im gonna sit on my hands for now. I've watched markets tank on sunday and be back up to normal on monday.
 
gaussian said:
There's some significance in the psychological effect of TA by virtually everyone doing it. It has no merits other than the fact it works by virtue of the entire market believing it works.
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Thanks for answering. It is my belief that all TA is based on psychological or human patterns. I was curious if there is a mathematical reason why trends show up in random data. Perhaps trends are a visual representation of the law of large numbers?
 
schizo said:
I don't recall we've opened this low in the last 10 years. Does anyone have the news?
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May 3-5 2019, was a full 1% drop (almost). Was already in a downtrend. Not like what we have here. Likely to retest ATH before really giving the business. I wouldn't bear or bull this one yet.
 
Of course not to make light of those who are dropping dead from this virus but seems a bit of "poetic justice" if China possibly slays U.S. bull market - however indirectly.

Of course Tonal Dump will instead point the finger at Ukraine lol.
 
Deez said:
I ask this with all do respect, why do you use the trend channel as a basis for market direction? Isn’t TA hindsight analysis that doesn’t have any impact on future price?
More...

If so, why did the price stop and reversed at the trendline tonight?
 
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