Strong support? Major bottom?

[KGTrader4]

Both look good. Although why are they down 50% in the first place if the fundamentals are so great?

my opinion? Market. Lifts all boats and Vice versa. WBA isn’t exactly a fast grower. And TROW is dependent on AUM, which obviously drops with the market

I think they come back in a year or two, meanwhile Your getting a 5% dividend.

 

[Wide Tailz]

Glorious old school buy signal (SPY):

 

[KGTrader4]

Glorious old school buy signal (SPY):

What are we looking at? The price chart coming down into the volume chart?

 

[ET180]

my opinion? Market. Lifts all boats and Vice versa. WBA isn’t exactly a fast grower. And TROW is dependent on AUM, which obviously drops with the market

I think they come back in a year or two, meanwhile Your getting a 5% dividend.

One concern with TROW: is their AUM dropping because millennials are favoring a more passive approach to investing? Is their demographic is getting older, that's a problem.

 

[deaddog]

Stocks are like perishible groceries. Just because the milk is on sale at 50% off doesn't mean it's a good deal.

 

[Wide Tailz]

What are we looking at? The price chart coming down into the volume chart?

1. Divergence on Macd, stochastics & money flow

2. SMA5 crossed SMA20 upward ("The Original" trend following system)

3. Price about to impale upper BB

4. And my personal favorite, first flag after the reversal has now explode to the upside!

5. Huge volume with no further price progression to the downside over the past 3 weeks

6. Can't overlook that textbook one day reversal candle marking the low

7. Price crossed SMA 20 and bounced on it

 

[Wide Tailz]

Stocks are like perishible groceries. Just because the milk is on sale at 50% off doesn't mean it's a good deal.

But only long options expire!

 

[KGTrader4]

Stocks are like perishible groceries. Just because the milk is on sale at 50% off doesn't mean it's a good deal.

yeah, I get that, but don’t think that’s the case in all areas. We’re in a bear market. Good stocks get trashed. Bear markets create danger for traders and opportunity for investors.

 

[KGTrader4]

One concern with TROW: is their AUM dropping because millennials are favoring a more passive approach to investing? Is their demographic is getting older, that's a problem.

I think it’s simple math. AUM down, expenses fixed, = earnings down =stock price trashed. That’s where we are. Bad news built in. Could it go lower if we get another leg down? Sure. But I’m not looking to pick a bottom here, lot of risk already taken off the table.
TROW in a lot of 401Ks so millennials still investing in it

 

[Nine_Ender]

Last time the S&P 500 traded below the 200 week MA and stayed there for any length of time was 2008-2009. Since then, only the Covid low brought us below the 200 week and it bounced back fast.
We are right at the 200 week now. If it holds….

of course nobody here gives a crap about a weekly chart. 5 minute chart is the word lol.

View attachment 297953

Technically, the SPX put in what is likely a double bottom a few weeks ago and the energy sector is likely still in a multi-year cyclical bull. The best trades have been recognizing the overall range on the year because once you strip out QQQ it's not nearly the bear market some think it is.