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Post by theMist on Dec 5, 2018 22:00:28 GMT -5
Jim's video
Well... yesterday was a totally rotten day with all indexes down more than 3%. But, surprisingly, that really has not resulted in much damage
to the chart when we consider the trend lines we have. The damage would be done until we take out some more important lines of support.
Clearly, that could happen, and the fact that we are getting jerked around so much the last couple of months means we could be in a topping process.
Still, that purple line at 2820 is still there and getting over that resistance level is not at all out of the question, so we keep watching it...
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Post by clinton on Dec 5, 2018 22:04:24 GMT -5
we could be in a topping process.
made me chuckle
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Post by huh on Dec 6, 2018 7:36:26 GMT -5
The only hope I see for bulls for today at least would be for VXX to fill its upside gap ~38.60 then market put in a solid bottom. That would be a strong signal for a solid leg up. Other than that, ouch.
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Post by theMist on Dec 6, 2018 8:10:44 GMT -5
we could be in a topping process. made me chuckle I think he's finally catching on lol Thought for sure Jim was going to call it a double headed iH&S pattern lmao |
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Post by huh on Dec 6, 2018 8:17:38 GMT -5
I do think this is a major top - and the highs already made in October (remember the whole every major top or bottom in October or March?). But I also think IWM has one more strong leg up (and therefore the indices) - peaking perhaps no later than very early January.
JMHO
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Post by walnut on Dec 6, 2018 9:28:07 GMT -5
Watching AMZN hourly TSV has been a really effective way to time and measure these ups and downs. hourly TSV looks like it needs some days before it would be at all safe to try to buy a bounce swing trade.
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Post by clinton on Dec 6, 2018 9:32:13 GMT -5
XLF puts sold +90% yehaw
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Post by clinton on Dec 6, 2018 9:36:24 GMT -5
LONG CHK 2.50 calls
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Post by clinton on Dec 6, 2018 10:02:48 GMT -5
from ST  |
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Post by clinton on Dec 6, 2018 10:05:38 GMT -5
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Post by theMist on Dec 6, 2018 11:33:21 GMT -5
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Post by clinton on Dec 6, 2018 14:08:07 GMT -5
since everyone has been buying weekly puts I think they gap this market up to kill them tomorrow
then more selling EOD or monday
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Post by theMist on Dec 6, 2018 14:33:01 GMT -5
I agree Clinton - Looks like another bounce in the making before rolling
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Post by clinton on Dec 6, 2018 14:42:04 GMT -5
options that expire tomorrow are expensive WTF
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Post by clinton on Dec 6, 2018 15:49:01 GMT -5
I keep hearing CNBC saying no recession is coming
so that means one is.
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