I agree and I had a 128.13, very close to yours…but they bounced already at a minor support (128.52).
In my book, that means that the bounce will be also “minor”…
minor it is, over all bear momentum is still good, I like it to act this way is better, if we are going to get a bear trend it will sustain for awhile, I am looking at internals the one stand out is TRIN and $NYHL once all of them agreed the early bird can smile and the trend follower will pile in.
My comments are for entertainment/educational purpose only. NOT a trade advice.
PSMT will be maybe a good call for next few days (now I´m just in waiting mode )
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
I agree and I had a 128.13, very close to yours…but they bounced already at a minor support (128.52).
In my book, that means that the bounce will be also “minor”…
minor it is, over all bear momentum is still good, I like it to act this way is better, if we are going to get a bear trend it will sustain for awhile, I am looking at internals the one stand out is TRIN and $NYHL once all of them agreed the early bird can smile and the trend follower will pile in.
my signals are saying we should have more down today...
but being a nimble bear is being a smart bear because the bulls come out of nowhere often and fast.
I agree and I had a 128.13, very close to yours…but they bounced already at a minor support (128.52).
In my book, that means that the bounce will be also “minor”…
minor it is, over all bear momentum is still good, I like it to act this way is better, if we are going to get a bear trend it will sustain for awhile, I am looking at internals the one stand out is TRIN and $NYHL once all of them agreed the early bird can smile and the trend follower will pile in.
my signals are saying we should have more down today...
but being a nimble bear is being a smart bear because the bulls come out of nowhere often and fast.
Most of the big moves we had in the past month and half has been from gap ups. There's a lot of fund managers that missed the train that will buy the dip + lots of money sitting in at bonds, could start back in if we keep at this elevated levels for a while. IMHO sustained big down moves require some external shock.
sorry again, very busy day because I slept earlier last night so have to do what left last night. I don't see much update here anyway, as long as no sharp down, the dip would be bought, so guess bulls are fine, so far.
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I agree and I had a 128.13, very close to yours…but they bounced already at a minor support (128.52).
In my book, that means that the bounce will be also “minor”…
minor it is, over all bear momentum is still good, I like it to act this way is better, if we are going to get a bear trend it will sustain for awhile, I am looking at internals the one stand out is TRIN and $NYHL once all of them agreed the early bird can smile and the trend follower will pile in.
my signals are saying we should have more down today...
but being a nimble bear is being a smart bear because the bulls come out of nowhere often and fast.
Right, guys!
I am trying to be a nimble bear, too...However, I am not trading all those small hiccups of QID.
If we get back in the ellipse, an acceleration should occur!
As a hedge: accumulating more FXI, which is quite strong in this US bearish environment, today.
50 hour moving average (light blue line) appears to be solid support.....Bears gotta get under to trigger some selling but i don't think they can take it down that far today.