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Misc Stock Market
- Thread starter ForsythSnow
- Start date
GeorgiaGirl
Member
Not likely due to options dynamics, the move under 6k by the S&P hurt here.
But a retest of 6k on the backend looks likely to wrap 2024 up beginning next week.
ES bounced hard at the Sept low VWAP which happened to be the 100dema too. I added some SPYU/TQQQ on that this morning in pre-market. I just closed out the TQQQ here $85.20 from $77 and will keep the SPYU working. Still holding the NVDA shares too from $128. Probably my best day in weeks.
I was planning on staying out of the way rest of the year but this huge gap down was too much for me to not buy.
I was planning on staying out of the way rest of the year but this huge gap down was too much for me to not buy.
Another reason I bought the gap down in pre-market was the SPX oscillator was the most oversold it's been in a couple of years. It was this low in spring and then had a 15% rip over the following weeks.
I don't have any confidence of direction....volume is really high...wide range candles.
But for now...SPY was really oversold, extreme and we got a hard bounce rejected right into the 8/20dema. Monday's are usually green in bearish sequences but we shall see.
But for now...SPY was really oversold, extreme and we got a hard bounce rejected right into the 8/20dema. Monday's are usually green in bearish sequences but we shall see.