S&P Futures Opens Down 20 Points!

schizo said:
If so, why did the price stop and reversed at the trendline tonight?
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It has not reversed yet. Asia and Euro may yet have something to say about the spreading of this pandemic, because if you recall, they were closed on Friday before the new US cases were confirmed.
 
schizo said:
If so, why did the price stop and reversed at the trendline tonight?
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Well, my answer would be cause everyone’s doing it. But as I suggested in a prior post perhaps there’s more structure there. I will look at the weekly option pricing - I would surmise they are pricing in approximately a 50 point move this week (in either direction of course).
 
In my view the current low came in at 3253 because it was resistance a bunch of times between end of December and early January. Look at your 4 hour, its obviously a significant level.
 
It will reverse and move up strong pre-market and will open slightly up or slightly down.
Major gap downs are usually a result of macro economic news like failed trade negotiations.
 
_eug_ said:
In my view the current low came in at 3253 because it was resistance a bunch of times between end of December and early January. Look at your 4 hour, its obviously a significant level.
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But back then we didn't have a new rogue virus killing people!
 
KCalhoun said:
I went Short over $11,000 by buying TVIX SQQQ etc. last week, yippee kayo unless there's a dreaded tweet lol; I held into the weekend, because this ridiculous overbought rally is overdue for a bear hug; either I'm up or down a lot tomorrow... i love trading

In trading inverses for over a decade, i learned the hard way to 'buy the dip, sell the rip', so i'm gonna use trailing stops ... thoughts?

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These position is likely red tomorrow because dips will be bought up faster than you think. We know the Fed will pump hard. Don't be naive thinking market can come down....
 
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