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Seems a good news in? Not sure whether the low was in or not.
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February 2002 was the last time the Nasdaq 100 dropped >1% for 3 days in a row, while the S&P 500 didn't drop >1% on any of those days.
The Nasdaq 100 has averaged a gain of 47 bps on the day after a 1%+ down Monday (315 events). Compared to an average gain of 0.06% for all Tuesdays. And when the Nasdaq has fallen 1%+ 3 trading days in a row, with the 3rd day being a Monday, the following day has averaged a gain of 0.91%... Turnaround Tuesday?
If you were wondering what that was that rocked the markets about 8 minutes before the open (and messed up my feeble attempts at trend lines) it was Bloomberg claiming China and the US want to restart trade talks and avoid a disaster. Alistar posed on twitter a chart showing the savage short covering in the NASDAQ.
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If you were wondering what that was that rocked the markets about 8 minutes before the open (and messed up my feeble attempts at trend lines) it was Bloomberg claiming China and the US want to restart trade talks and avoid a disaster. Alistar posed on twitter a chart showing the savage short covering in the NASDAQ.
Absolute nonsense! This is really irritating. How many times do they have to "restart trade talks" before the market ignores this junk. I can't believe the market is even reacting to this. Are humans really that stupid? You know the talks will go nowhere as long as Trump is in office because he will blow it up. I guarantee it! The market should just expect chaos as long as Trump is in office, that way it doesn't continue reacting to everything because it would have been factored in.
These folks can't keep messing up the charts with all the stupidity taking place. People have money on the line. These things should be handled in the background then brought out after an agreement has been reached and signed. Isn't that common sense?
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morning hourly filled black bar. implication is on the top left of the chart itself.
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Comment on this morning. At about 9:05 or so FT71, in his morning broadcast, made it very clear, as in repeating it three times for us slow students that ES 2818 and above would be back to bull and ES 2788 1/4 would be back to bear. Then we get the Bloomberg trade rumor just before the opening volume kicks in and presto we elevator up to ES 2818. The fact that it did not hold says a lot. A year ago that would have been a slam dunk off to the races positive trend day.
Prefer a flush out late today tomorrow below 2800, maybe 2760 ish with fed report/jobs to save the day later in week... not sure we get it, but my preference....
testing day high, range day or trend day, we'll know soon. suppose to be an uptrend day but so far acts like a range day.
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Citi asks: What explains the lack of selling ?
Citi answers: because of herding behavior:
“… the move has the hallmarks of herd instincts at work … Absent a catalyst, herding behavior can be very persistent and can feed on itself…
[so don’t] … get too complacent…” https://www.youtube.com/watch?v=tDQw21ntR64
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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