So far it's a range day to me as long as the yesterday's high is not taken decisively. Assume the range high is the yesterday's high for now.
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trading for the breakout above the ascending triangle that has been forming since Wed on a strong bottom support (61.8 fib line from the 666 low to the recent highs) - loaded up on TQQQ
Glad VIX /VXV is back under 1.0. That is why there have been huge moves in UVXY but relatively small moves in SPY. If they can keep a lid on the VIX it bodes well for Longs next week. http://schrts.co/yjjEAwZB
My comments were dictated to me by homie the clown
Stock market gains do very little or nothing for wage earners. And those wage earners can not really self-quarantine, as they need to work. Just in my opinion.
Charts posted are not recommendations. They are just a sharing of information.
Cuomo comes out with the news of basically NY lock down for all non-essential personnel - if the bulls can weather this bomb, it will show that the market is becoming numb to bad news. That would portend a temporary bottom here.
Essentially, the opposite of the times when the Fed bazooka news would come out and the market spiked briefly then faded shortly after.
That would signal a change in herd psychology.
Last edited by BullTart on Fri Mar 20, 2020 11:31 am, edited 1 time in total.
If you don't make it a real panic, you will not get that bail out for the business? for us, only price pays, I hope bulls can hold on to this, not looking now do or die. have a good weekend all. Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.
BullBear52x wrote:If you don't make it a real panic, you will not get that bail out for the business? for us, only price pays, I hope bulls can hold on to this, not looking now do or die. have a good weekend all. Peace!
boss: charts react to the news
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.