See my Post above yours Mighty Max. Same situation as earlier in the Year again.
The Market getting ahead of itself again?
Swing Trading QQQ
- Thread starter schizo
- Start date
The Market getting ahead of itself again?
So sez u.
%%
Good shots, in hindsight\
using SQQQ in hindsight.
Good downmoves + Uptrends / SPY/SH today .
I liked SQQQ + SH better when they were aboVe 50dma, APR + early MAY, but that'$ just me.
Debriefing?
ES/SPX is nearly back up to the ATH. NQ/NDX as well.
I'll honestly admit I thought we'd see a 10 % correction play out this time and have been taking plenty of shorts, but switched to 'long mode' on this Monday's Gap Up Day. At that point, it seemed like upside momentum was back with force.
ES/SPX is nearly back up to the ATH. NQ/NDX as well.
I'll honestly admit I thought we'd see a 10 % correction play out this time and have been taking plenty of shorts, but switched to 'long mode' on this Monday's Gap Up Day. At that point, it seemed like upside momentum was back with force.
I don't have my charts here, but didn't we get something like a 7% correction? If I recall correctly someone here predicted exactly that point as a possible turnaround.
Now everybody and his mother (ok, well and partly myself
) are wishing they had bought (more aggressively, in my case) the dip, so unless we get some surprise on Wednesday (as SunTrader mentions), IMHO, we're likely to see more FOMO and probably new ATH.Which doesn't exclude that it then tanks all summer or right before the election.
I don't have my charts here, but didn't we get something like a 7% correction? If I recall correctly someone here predicted exactly that point as a possible turnaround.
Now everybody and his mother (ok, well and partly myself
Which doesn't exclude that it then tanks all summer or right before the election.
On SPX, the down move culminated at 4953,56. 311,29 points down (- 5,91 %).
A fairly mild correction, although it felt like the end of the world at the time after a non-stop pump.
Ultimately, I do think this will be a decent up year as posted elsewhere on the boards, so might very well just keep going higher from here. With that being my view, I for one ain't trying to pick any tops anytime soon.
As of Friday's Close, SPX is only down 42,17 (0,8 %) points from the current ATH. All it takes is one good green day or two and we're at new ATHs.
Volatility have been steadily decreasing, so unless that CPI report shakes up the markets, we might very well be going into a boring low volatility summer period from here on. The market does appear to be shrugging off any bad news for now.
On SPX, the down move culminated at 4953,56. 311,29 points down (- 5,91 %).
A fairly mild correction, although it felt like the end of the world at the time after a non-stop pump.
Ultimately, I do think this will be a decent up year as posted elsewhere on the boards, so might very well just keep going higher from here. With that being my view, I for one ain't trying to pick any tops anytime soon.
As of Friday's Close, SPX is only down 42,17 (0,8 %) points from the current ATH. All it takes is one good green day or two and we're at new ATHs.
Volatility have been steadily decreasing, so unless that CPI report shakes up the markets, we might very well be going into a boring low volatility summer period from here on. The market does appear to be shrugging off any bad news for now.
Predicting past a day or 2 is a fools game . 2-3 weeks ago few saw us back on the door of ath’s this quick . You were calling for a 10% correction . Just trade what’s at hand . If the mkt were rational we’d be trading at a 15 p/e max with 5% interest rates and very mediocre earnings . After all these decades people still want to buy dips and have no fear of owning them as people perceive little risk.
Yep. Volatility is gone for a long time. I don't think it felt like the end of the world when the V was so fast lmao.On SPX, the down move culminated at 4953,56. 311,29 points down (- 5,91 %).
A fairly mild correction, although it felt like the end of the world at the time after a non-stop pump.
Ultimately, I do think this will be a decent up year as posted elsewhere on the boards, so might very well just keep going higher from here. With that being my view, I for one ain't trying to pick any tops anytime soon.
As of Friday's Close, SPX is only down 42,17 (0,8 %) points from the current ATH. All it takes is one good green day or two and we're at new ATHs.
Volatility have been steadily decreasing, so unless that CPI report shakes up the markets, we might very well be going into a boring low volatility summer period from here on. The market does appear to be shrugging off any bad news for now.
We've got 2 catalyst to put this at ATH both on Wednesday. CPI and NVDA ER. NVDA is the golden child, there's 0 chance it would ever miss. Could legitimately see QQQ 457-460 this week.