I missed the memo
Once SMALLS realized that the breakout was a trap, they flipped immediately (obviously the top of the box was the buy-stop AND the sell-stop)
Target is the bottom of the box, but the decline is very STEEP, and it may need to fan-out (dead cat) before it hits bottom
1min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Major divergence intraday-- IWM pressing its LOD, QQQ a minor pullback and a gap fill, SPY still holding gains and not yet gap-fill... decline so far stopped at yest high.
I am waiting to hear Mr. Musk explain why his crew can't figure out how to weld steel and why all those working people were replaced by temps to lower cost without negatively impacting productivity or quality. He has already started the gee wiz counter attack by showing a video of a small tunnel under LA with a massive vapor ware presentation animation. If boring machines and underground tunnels were so easy why are LA and Seattle having so many problems doing it? Why did London get a PBS special on doing theirs? Or the real question, do you want to buy another bridge from Elon Musk?
I was out walking my dog yesterday and got chatting with a fellow dog-walker.
He asked my what I did and gave a run-down of the markets and the current situation - low rates etc. Seniors getting nothing on their fixed income and forced to chase yields and then oil companies cutting dividends and the huge haircut the seniors took both zero yield from 5.25% and 60% of their capital gone. Governments around the world who used to buy each others long term bonds at 8% now speculating in the equity market casino as LT yields have been decimated.
He said I thought they were going to raise rates and I explained that they are in a bind as the economy isn't really very strong and they are worried about causing the market to crash. I said how a big crash would really hurt a lot of people at the bottom. I went on about how this was entirely new territory and never before have rates been artificially suppressed like this.
We said good-by and parted ways.
I got to thinking "What will happen"?
With so many players in the market, govts instead for LT bonds, double amounts by the Goldman Sachs of the world with their free money from buy toxic assets (don't you love how the Fed makes a new word to excuse their larceny?), and aged seniors desperately seeking some yield what will the outcome be?
Educational only and not trading advice (EO&NTA) Good trading to all
The Fed's GDP estimates has been a rollercoster for months… now
True to form, the Atlanta Fed - which has a habit of overshooting massively at the start of the quarter based on optimistic estimates only to ease sharply lower on its GDP "nowcast" as the "hard" data comes in - has unveiled its latest Q4 GDP estimate , which the regional Fed expects to print at a blistering 4.5%. The number is more than 50% higher the previous Q4 guesstimate of 2.9%.
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I have had a very small account with Robinhood for about 1 year. I use it to play around with small stock positions because of the free commission structure. The interface and features are very limited and sometimes can be frustrating, but the fills are OK and the price is ... well ... FREE!
NO Option or Future trading ... ONLY stocks!
You might want to try it out to see if it works for you ... or not.