mini rebound target. exceeded it then the low might be in. for now I think 51% chances the low was in.
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It looks like a double bottom now, but I won't bet on it because there isn't any buy setup to trade.
I've been a MOMENTUM trader over a decade & I only trade setups ranging from scalping, day or swing trading for living. My posts on here are ONLY FOR FUN & therefore not recommending anything to anyone. GLTA.
Plunge protection Team needs a new strategy. This comedy routine of yelling China to whip the market into shape just isn't cutting it anymore. It is like both the business and political news is into the summer re-runs of shows we have seen before.
Trades with cats wrote:Plunge protection Team needs a new strategy. This comedy routine of yelling China to whip the market into shape just isn't cutting it anymore. It is like both the business and political news is into the summer re-runs of shows we have seen before.
Not staying up on twitter, didn't see that new York Fed Williams is actually talking more money printing and going to negative interest rates. No way this market is going on up with that kind of outlook from the mouth piece of the New York Banks.
For those who don't trade futures tomorrow is official contract roll so all futures charts are a mess until Monday. Some suggest not trading the Thursday and Friday roll because volume is split between the expiring and the new.
flrtrader wrote:Alot of big Neg Ticks there for a while with no movement. I have saw that being a big warning before for longs. Hope it is different this time.
So Goldman is in print saying it is over and their man on the FOMC is openly discussing negative interest rates and Apple is slashing phone prices in China. Makes it kinda hard to build a case for a new long position.
flrtrader wrote:Alot of big Neg Ticks there for a while with no movement. I have saw that being a big warning before for longs. Hope it is different this time.
So Goldman is in print saying it is over and their man on the FOMC is openly discussing negative interest rates and Apple is slashing phone prices in China. Makes it kinda hard to build a case for a new long position.
Agreed,
But That Sucks... That should sure have the bears throwing money AROUND huh?
Tuff call to me here, No doubt we are teatering on the edge right here. 2750 is but a blink away if they don't step in.