S&P Futures Opens Down 20 Points!
- Thread starter schizo
- Start date
It's a good time to refresh this thread as the markets are once again at ATHs.
Indeed it was.
Buying last Friday's Close would have been good too (worth 123,00 ES points).
I maintain the belief that a sustained sell, i.e., a bear market, would need some kind of trigger to reverse the trend beyond a dip.
Such a trigger has not yet presented itself as far as I know. Nor have the conditions which are driving this market.
Don't get emotional.
A large gap down open tomorrow at 09:30 is most likely a good buy. But use a stop.
Indeed it was.
Buying last Friday's Close would have been good too (worth 123,00 ES points).
I maintain the belief that a sustained sell, i.e., a bear market, would need some kind of trigger to reverse the trend beyond a dip.
Such a trigger has not yet presented itself as far as I know. Nor have the conditions which are driving this market.
I won't bother to create a new thread on this, but it's often been said that markets drop faster than they rise. I suppose this is market dependent, but did anyone do a study on this?
I have not done a study myself beyond some brief studies, but I've noticed that while a market can fall fast it sure as hell can recover pretty damn quickly too.
Let's look at this last correction and the ensuing recovery:
a) Correction down
Magnitude: - 3.74 % / - 124,75 points; Duration: 7 trading days (excluding the day we topped)
b) Recovery up
Magnitude: + 4.14 % / + 133,00 points; Duration: 4 trading days (excluding the day we bottomed)
I have not done a study myself beyond some brief studies, but I've noticed that while a market can fall fast it sure as hell can recover pretty damn quickly too.
Let's look at this last correction and the ensuing recovery:
a) Correction down
Magnitude: - 3.74 % / - 124,75 points; Duration: 7 trading days (excluding the day we topped)
b) Recovery up
Magnitude: + 4.14 % / + 133,00 points; Duration: 4 trading days (excluding the day we bottomed)
I suggest you do a comparison study between late 1999 (especially NQ) and now. I personally see a like of similarities, especially when it comes to these "blips".
Again, your analysis on this is terrible. I took a look and you're operating on emotions not anything numerical at all. Here's an eye opener for you. Note the percentage gain in the Nasdaq in 1999 at your arrow. Note the percentage gain this year. Go ahead, post those numbers surely you looked before your posted your "comparison". Now, note what happened to the Nasdaq the remainder of 1999. What does that tell you about 2020 if you insist repeatedly in bringing up this silly comparison.