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09/13/2022 Market Recap
09/13/2022 Market Recap
Maybe it's a measured move down. Tinted area is the 100% measured move target.
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Re: 09/13/2022 Market Recap
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
- My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.
- Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.
- Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.
Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Re: 09/13/2022 Market Recap
Another excellent and timely quick-study from SentimenTrader..
On Tuesday every member of the Nasdaq 100 declined. In the past 25 years there were only 13 times this has occurred. Taking this as a buy signal for the NDX or QQQ, and holding for two weeks, the median gain upon sale would have been about +4%.
Only four of the purchases resulted in losses, and three of those came in a cluster in August 2011--around the height of the European debt crisis.
On Tuesday every member of the Nasdaq 100 declined. In the past 25 years there were only 13 times this has occurred. Taking this as a buy signal for the NDX or QQQ, and holding for two weeks, the median gain upon sale would have been about +4%.
Only four of the purchases resulted in losses, and three of those came in a cluster in August 2011--around the height of the European debt crisis.
Re: 09/13/2022 Market Recap
StockTrader'sAlmanac
@AlmanacTrader
S&P 500 has declined 4% or more in a single day 53 times before today since 1950. Next trading day S&P was higher 35 times and lower 18. Average gain of 1.08% on all days. Based upon historical performance, the odds of a gain tomorrow are 66.04%. https://jeffhirsch.tumblr.com/post/6953 ... of-4-daily
@AlmanacTrader
S&P 500 has declined 4% or more in a single day 53 times before today since 1950. Next trading day S&P was higher 35 times and lower 18. Average gain of 1.08% on all days. Based upon historical performance, the odds of a gain tomorrow are 66.04%. https://jeffhirsch.tumblr.com/post/6953 ... of-4-daily
Re: 09/13/2022 Market Recap
There is an off chance we could see 4035 today since the 5 day avg daily range is 108 points ( due to yesterdays mini crash) and the current daily low is 4026, so use caution today. sell the rips unless you are a very short term scalper.