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Misc Stock Market
- Thread starter ForsythSnow
- Start date
Not a very far fall out of such a robust H&S pattern.I remember last Friday thinking maybe we hit a short term bottom...and now here we are again....short term bottom? ?
View attachment 91872
Agreed, rates are dropping today and there has been intense selling for several weeks now. SPY had its worst month since the covid fall. I don’t know..I expect more chop. And downside is favored IMO.
Until SPY reclaims the 8dema and can hold it then things are still bearish...I am long SPY/IWM and a few other things though.
Perfect rejection today, which isn't surprising, it had a big move today with volume.
Perfect rejection today, which isn't surprising, it had a big move today with volume.
Prestige Worldwide
Member
Well that crashed quickly for me. Oh well - need to rebound next week
VegasEagle
Member
Market is unprepared for the inflation fallout, Wharton's Jeremy Siegel warns
Wharton finance professor Jeremy Siegel, who’s known as a long-time bull, believes inflation will become a much bigger problem than the Fed believes.
Well. It was a good run fellas
Well...market still looks like crap, these oversold bounces are really hard.
Broken024
Member
I don't want to play this game anymore
Broken024
Member
------- Chewy. Think I might just cut my losses at this point. Just goes down every day.
?
Zuck's seen enough ?
VegasEagle
Member
Easy money! Old Grey hair trader honey hole. 
Whelp Facebook is dead and I guess it's time to do MySpace again.
Not sure what to believe at this point but this is fun. The only thing I know for certain is that the whistleblower on 60 Minutes last night was a government op. When you whistleblow you don’t run to the press. No shot. Whoops..this is the stock thread 
Tech gave up a key trendline/support today. Bounced right at the 30wema which has served as major bounce area in the past.
I don't know what the reasoning is for this deep a sell off...is it the debt ceiilng? rates? inflation? oil? Or all the above?
We are on week 5 of the q's selling off, it's been a long long time since tech been down 5 straight weeks.
I don't know what the reasoning is for this deep a sell off...is it the debt ceiilng? rates? inflation? oil? Or all the above?
We are on week 5 of the q's selling off, it's been a long long time since tech been down 5 straight weeks.
RSI getting very oversold in tech, sub 30 after today. Last time it was this low was the covid crash in March 2020... before that was Q4 in 2018.
We can definitely go lower but a relief rally, a hard rally I think is due. Personally, I wouldn't mind more carnage, the bigger the dip the bigger the rally. Q4 2018 saw almost 25% correction but then Q1 2019 saw a 33% rally. Of course, for this type of scenario to occur we would need Q4 to really suck and that will be painful.
We can definitely go lower but a relief rally, a hard rally I think is due. Personally, I wouldn't mind more carnage, the bigger the dip the bigger the rally. Q4 2018 saw almost 25% correction but then Q1 2019 saw a 33% rally. Of course, for this type of scenario to occur we would need Q4 to really suck and that will be painful.