Cobra wrote:if no meaningful rebound here then it'd be bloody day.
Why here? Good time by the way
instincts
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watch for ema short here, either L2 or L3 or ema gap short. if strong break through ema then bears are over, so key time.
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Expect the market to drop the last 2 hours of today, tomorrow and especially Friday. I don't see folks holding overnight and especially going into the weekend. So we might see a flush the last 2hours on Friday as a result of panic selling.
This will be as a result of Trump's unpredictability and the fact that he hates backing down. So don't expect any conciliatory message from him. But if it happens, it is because the people around him forced him into it. That means it won't take more than a few days before he starts fighting again and saying what he wants uncuffed. That is the pattern of his presidency. But knowing how impulsive humans are, the market will take a conciliatory message (if it happens) as a reason to rally before reversing again.
Last edited by Clueless on Wed Aug 15, 2018 11:56 am, edited 1 time in total.
Springheel Jack:“If we find a low today then I’d note that Thursday and Friday this week are both cycle trend days, so we could see a strongly directional days tomorrow and/or Friday.”
Overnight low/Opening print look like significant resistance. Going to take more than one try to power through if the bulls have their act together (doubtful).
All this not doing much has lead to a major issue IF they can't break out over the opening print. Smelling like yesterday afternoon when they couldn't get it up!
Speaking of stuff that was or could be money saw a twitter feed today saying this double bottom is a great time to buy bitcoins. Made me wonder, what is the difference between a double bottom and a dead cat bounce?
President Maduro has announced that Petrobras will be paying all it's bills in Venezuela cryptocurrency.I guess because the Bolivar is in a tie with the Weimar Republic Mark for the record books.
I have the low of the day for QQQ around 178. On your chart it looks like price got closer to 177, but Stockcharts intraday Hi and Lo levels are notoriously variable.
And perhaps that 178 was close enuf...? Price is currently back below the 5min 20ema.