US stock market in trouble? Discretionary traders post your charts with analysis

[PPC]

It seems like the correction in US stock market is not over. Sure, we can have just a pause and consolidation, but this time the “pullbacks” no longer seem to have the “expected” corrective characteristics of the previous pullbacks.

There seems to be lots of ‘rejection”, selling pressure and impulsive moves to the downside (on shorter timeframes).

What also worries me is extreme increase in volatility in number of stocks. Seems like the big players are getting more and more nervous.

Obviously, I don’t know what will happen next, but at least near term, I think there is more downside to come, and my watchlist is now full with setups for shorting.

I’m attaching few charts, and I’d like other discretionary traders to share their charts as well

 

[maxinger]

There is absolutely absolutely no trouble.
There is nothing scary/to be worried about.


The US stock market is moving.
As long as it is moving (up or down doesn't matter), there are trading opportunities.

But members from eliteinvestor.com and the OP might be having sleepless nights.

 

[Global OptionsTrades]

Swing trader perspective here. Turning point for the indices for me, too.

SPX long since 17 May (4159). Short signal on Friday 04 August (4478)
NDX long since 28 April (13246). Short signal Friday 04 August (15275)
RTY (the future as I don't track RUT spot) long since 11 July (1928). Short 04 Aug (1966)

 

[PPC]

There is absolutely absolutely no trouble.
There is nothing scary/to be worried about.


The US stock market is moving.
As long as it is moving (up or down doesn't matter), there are trading opportunities.

But members from eliteinvestor.com and the OP might be having sleepless nights.

Yeah, I agree there are always opportunities everywhere..

I’m not worried if the market goes down, I actually want it to go down, I’ve been shorting since last week, plus I have option spreads that are long Vega, but others might have some sleepless night soon if the market tanks and they won't be at least hedged.

I do find bear markets much easier to trade. Will see what happens, the bureaucrats might say something to "save" the market, I’m fine with any scenario, but I'm definitely not near-term bullish.

 

[M.W.]

More downside? What downside? Are you watching 20second bar charts? We are sitting sky-high with valuations that defy any sort of gravity. What are you talking about?

It seems like the correction in US stock market is not over. Sure, we can have just a pause and consolidation, but this time the “pullbacks” no longer seem to have the “expected” corrective characteristics of the previous pullbacks.

There seems to be lots of ‘rejection”, selling pressure and impulsive moves to the downside (on shorter timeframes).

What also worries me is extreme increase in volatility in number of stocks. Seems like the big players are getting more and more nervous.

Obviously, I don’t know what will happen next, but at least near term, I think there is more downside to come, and my watchlist is now full with setups for shorting.

I’m attaching few charts, and I’d like other discretionary traders to share their charts as well

View attachment 320402


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View attachment 320405


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[PPC]

More downside? What downside? Are you watching 20second bar charts? We are sitting sky-high with valuations that defy any sort of gravity. What are you talking about?

If you really want to know what I'm talking about, then you can re-read my post, it seems self-explanatory.

In 2021 when Bitcoin was trading around 60K and I was concerned, I had lots of similar responses like yours. Back then everyone one around me was going to be the next multimillionaire because trading was so “easy” and bitcoin will “never” go down.

Few months later, all those people were queuing at social security for welfare handouts because most of them were fully margined and lost all their life savings.

I’m not saying that that’s the case with US equities, nevertheless to me it doesn't seem like an ideal environment that would "defy any sort of gravity" as you've put it.

 

[M.W.]

You write an entire post about something and at the end say "it does not mean it applies to what I talked the entire time about that it applies to". Do you realize the idiocy in such statement?

Nobody at the moment knows when the market will correct and whether it corrects from current levels. Nobody. Certainly not your 1 minute charts.

If you really want to know what I'm talking about, then you can re-read my post, it seems self-explanatory.

In 2021 when Bitcoin was trading around 60K and I was concerned, I had lots of similar responses like yours. Back then everyone one around me was going to be the next multimillionaire because trading was so “easy” and bitcoin will “never” go down.

Few months later, all those people were queuing at social security for welfare handouts because most of them were fully margined and lost all their life savings.

I’m not saying that that’s the case with US equities, nevertheless to me it doesn't seem like an ideal environment that would "defy any sort of gravity" as you've put it.

 

[murray t turtle]

If you really want to know what I'm talking about, then you can re-read my post, it seems self-explanatory.

In 2021 when Bitcoin was trading around 60K and I was concerned, I had lots of similar responses like yours. Back then everyone one around me was going to be the next multimillionaire because trading was so “easy” and bitcoin will “never” go down.

Few months later, all those people were queuing at social security for welfare handouts because most of them were fully margined and lost all their life savings.

I’m not saying that that’s the case with US equities, nevertheless to me it doesn't seem like an ideal environment that would "defy any sort of gravity" as you've put it.

%%
LOL good points.
DIA = uptrend/12 month chart, daily chart 2023/200dma.
SPXS\SPXU mostly downtrend \which means SPY = uptrend most any time frame.
Good SPXS,SPX rally/ today/ anywayLOL 2 day charts

 

[PPC]

@M.W.

Once again, before replying to a thread, I suggest that you first familiarize yourself with what was written, instead of just posting replies with hidden agendas to ridicule others (as you frequently do in other posts to other forum members).

From your posts it’s seems that risk aversion and reading market internals are foreign concept to you.

I’m noticing more and more a common theme on this trading forum that most people avoid posting live charts and live analysis in a fear of being publicly “ridiculed”, when in reality trading is about buying and selling risk, i.e. taking only low risk setups and minimizing risk.

Most people don’t have the balls to post something live with charts as it is happening, instead people post their “impressive P/L”, and backtest results, but nobody (apart from few rare individuals) seems to only Talk the Talk, and NOT Walk the Walk. I wonder why?

Unfortunately, there will always be insecure individuals with chip on their shoulders who rather enjoy ridiculing others to sooth their insecurities to get a quick superficial boost of self worth by making fun of and putting down others, such as yourself @M.W. as can bea easily seen from your posts in other threads.

Anyway, I’m staying risk averse, I can see lots of damage in the market in individual stocks that cannot be seen just by looking at the SPX and moving averages.

However, you’re very welcome to ignore risk and to bet your farm on whatever you like.

 

[M.W.]

If you are too fragile to take criticism of your ideas then you should not post in the first place. I posted my bold analysis over 1.5 years ago. Bull market until fed reduces its balance sheet. As long as so much money is sloshing around nothing will break. It's really that simple. If that half assed correction kills you that occurred past October then that's your risk management or the lack thereof but in the grand scheme of things that was nothing at all. Look where we came from since 2011. Predicting a market correction based on 2 or 3 days of less than 2 percent declines is a joke. Whether you like it or not. And if you read my past posts as you claim you should know that I am currently 100% in tbills. No equity longs whatsoever. So not sure with what you refer to saying I am willing to bet the farm. So if anything, then I missed out on the delta between current levels and the highs post last year's mini correction. I currently take home an annualized 5.4% on 8 million usd. Virtually risk free. I can live with that.

@M.W.

Once again, before replying to a thread, I suggest that you first familiarize yourself with what was written, instead of just posting replies with hidden agendas to ridicule others (as you frequently do in other posts to other forum members).

From your posts it’s seems that risk aversion and reading market internals are foreign concept to you.

I’m noticing more and more a common theme on this trading forum that most people avoid posting live charts and live analysis in a fear of being publicly “ridiculed”, when in reality trading is about buying and selling risk, i.e. taking only low risk setups and minimizing risk.

Most people don’t have the balls to post something live with charts as it is happening, instead people post their “impressive P/L”, and backtest results, but nobody (apart from few rare individuals) seems to only Talk the Talk, and NOT Walk the Walk. I wonder why?

Unfortunately, there will always be insecure individuals with chip on their shoulders who rather enjoy ridiculing others to sooth their insecurities to get a quick superficial boost of self worth by making fun of and putting down others, such as yourself @M.W. as can bea easily seen from your posts in other threads.

Anyway, I’m staying risk averse, I can see lots of damage in the market in individual stocks that cannot be seen just by looking at the SPX and moving averages.

However, you’re very welcome to ignore risk and to bet your farm on whatever you like.