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not sure if the low was in or not, the general case should be another test of the low before a bottom can be possible.
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China has urged the U.S. to "pull back from the brink" after President Trump signed a presidential memorandum on Thursday to implement tariffs of up to $60 billion on Chinese imports -- which he says are a response to China's alleged intellectual property theft against U.S. tech companies. Beijing said it plans to retaliate, as expected, but its proposed response is softer than many were anticipating, calling for duties of just $3 billion on U.S. imports -- which is barely a drop in the bucket of the overall value of imported goods to China.
Overseas, equity indices in the Asia-Pacific region were hit hard on Friday, with Japan's Nikkei tumbling 4.5%.
Separately, President Trump said he's considering a veto of the Omnibus spending bill, which Congress passed last night.
/ES test Mar 2nd spike down.. possible mid channel…couple side notes…. we have had 17 moves of over 1% in the last 7 weeks.. vs 10 moves in the prior 13 months to Feb. Also the 1987 crash started with a gap at/under the 200d sma.
Gann cycle 55 days?… supposedly very similar now, to 1987, 1929 … fwiw. Be prepared for a VERY extreme move. .. hopefully not.
mini target. exceeds it then bulls have hopes, otherwise forget them.
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NYSE up/down volume is fairly positive, about 3/2.. while Naz is the reverse, somewhat bearish, ratio about 2/3. NYSE advancers were very strong at the open, have backed off quite a bit since then.
fehro wrote:/ES test Mar 2nd spike down.. possible mid channel…couple side notes…. we have had 17 moves of over 1% in the last 7 weeks.. vs 10 moves in the prior 13 months to Feb. Also the 1987 crash started with a gap at/under the 200d sma.
Gann cycle 55 days?… supposedly very similar now, to 1987, 1929 … fwiw. Be prepared for a VERY extreme move. .. hopefully not.
/ES takes out oLOD.. look to SPX gap fill? 2622-2618ish
fehro wrote:/ES test Mar 2nd spike down.. possible mid channel…couple side notes…. we have had 17 moves of over 1% in the last 7 weeks.. vs 10 moves in the prior 13 months to Feb. Also the 1987 crash started with a gap at/under the 200d sma.
Gann cycle 55 days?… supposedly very similar now, to 1987, 1929 … fwiw. Be prepared for a VERY extreme move. .. hopefully not.
If bounce fails today (imo 2666 must close above), there is an air pocket (2642 to 2585) to the 200ma, your scenario could play out next week (albeit no where near 1987% move), a good move down none the less. SHOULD bounce there. if we fall thru those mid to high 2500s, wild times yes.
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