The retreat - how deep will it be?

Quote from tradingjournals:

SPY now at 119.90. Within less than 1 point from the bottom before a higher move to try to test the highs?
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I believe (Secretly Hoping) so !!

:mad:
 
Quote from tradingjournals:

SPY now at 119.90. Within less than 1 point from the bottom before a higher move to try to test the highs?
More...

gap on Nov 4th is filled. up we go soon...
 
Quote from tradingjournals:

SPY now at 119.90. Within less than 1 point from the bottom before a higher move to try to test the highs?
More...

are you suggesting that SPY will retest 123 high or today's high of 121.35?
 
Quote from tradingjournals:

More than 50 views, and not a single soul on ET believes in a retreat. Isn't ET traders the best of the best? :confused:
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Its not fair to require wildebeest to see ahead when for zillions of years they've neither even seen the lions on the far bank nor the crocs just 2 inches below the surface.

The retreat will occur when Mother Superior jumps the gun - as in Happiness is a warm gun.
 
1) g20 consensus - not to devalue currency, us included -> dollar will not inflate as much as hoped -> commodity drops

2) opx next weekend

3) china stock market had a major down day on 1), speculation on further interest hike, and tax on capital gain/transaction

all 3 caused today's drop, watch china market on sunday night, watch the dollar/uup especially monday morning, to see if this retreat is going anywhere...
 
shanghai market was down another 5% last night, uup closed today near $23. Add in another wrench - ireland.

interesting to see how the shanghai market opens today in 1 hr, if it's another major drop, tomorrow will be bad.
 
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