This move in the Euro is decent too. We broke the monthly A down at 1.3411. There could be some interesting follow through here down to 1.3150 at that last swing low.
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The ACD Method
- Thread starter sbrowne126
- Start date
CERN, PRGO and UA were some decent strong stocks today. All made A ups.
Quote from Maverick74:
Where's the King at?
rolled up in a ball, just kidding I am stalking a few longs but I gotta say this tape is scary. When commodities and equities are selling off together that usually means some big hedge funds are getting pounded. I tried get long earlier and got stopped out. Sorry I don't have much to add, I claim Talebian ignorance as to what is next.
The ES is really defending this monthly A down level. Market just can't stay below it...for now.
Meanwhile BAC pushing 52 week lows here at the $5 level.
Quote from kinggyppo:
how about short bac long aapl for a pairs trade.
No. LOL. One, I think you ideally want to put on a spread when the lead product is breaking out, so you have some tailwind. And two, AAPL has confirmed a monthly A down. So while it's holding up relatively well, I would look for something stronger. And BAC confirmed at 5.70. So it's already more then 10% below the monthly A down.