02/24/2020 Live Update

[Daniel]

VIX is 23.59. Last time it was that high was last August

Vix at 25.25, as of 15min ago.

[Al_Dente]

everything is fine because china is starting to reopen.........
OMG I had to turn CNBC off

[Trades with cats]

[Al_Dente]

dip buyer.jpg

[Al_Dente]

SPX just went negative on the YEAR (YTD)
Per CNBC, please verify that yourself

ThinkorSwim says 2020 Jan 2 open for SPY was 323.54
2019 close was 321.86

thanks boss

[JFR]

ES 5. Tight little base. EMA 20, trendline, support level. Testing above the EMA 20.

[Trades with cats]

Tight little double top at 2:00 woth a drop to a higher low now moving on up. Late enough in the day this could be "The " up move hunting VWAP.

[Cobra]

Possible higher low so maybe the range low for today was in.

[JFR]

ES 5. There is a breakout. Running free for the time being.

[Heck]

COVID-19
Big Fizzle Despite Media
More people die from the flu

BULLYA

[Fieldydwb]

more people die from the flu? Not relevant.

[JFR]

https://www.cnn.com/2020/02/23/business ... index.html

Hong Kong/London (CNN Business)Stock markets are falling around the world after the number of coronavirus cases surged in Italy and South Korea, putting two more major economies at risk from a virus that has already caused widespread disruption in China.

The Dow (INDU) plunged 1,016 points, or 3.5%, in the early afternoon on Monday.
The index is on track for its worst day in just over two years, when it closed down more than 1,000 points twice within a week as inflation fears gripped Wall Street. On February 5 and again on February 8, 2018, the Dow's percentage drop was more than 4% on both days.
Since the index is higher now, on a percentage basis Monday's selloff isn't as dramatic as other drops in the Dow's history.

The S&P 500 (SPX) and the Nasdaq Composite (COMP) also fell sharply at the start of the trading day in New York. The S&P was down 3.5%, while the Nasdaqdropped nearly 4% in the early afternoon. The VIX (VIX), a measure of market volatility, shot up 42%.

[Heck]

Green close ?

[Heck]

more people die from the flu? Not relevant.

'Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.'

[MrMiyagi]

more people die from the flu? Not relevant.

More people die from auto accidents every day. So if we are all quarantined indoors, COVID will save lives.

[Al_Dente]

more people die from the flu? Not relevant.

'Personal attack on any board members won't be tolerated. Please limit your topic to trade related only.'

thanks heck

[Al_Dente]

Gold prices just suddenly plunged...
right as one typically sees margin calls issued - which suggests that perhaps someone just sold whatever they could to cover the collateral calls on their equity market losses
https://www.zerohedge.com/commodities/g ... to+zero%29

[Trades with cats]

There are two types of traders in the world, those who think the market reacts to headlines and those who see that they find a headline to explain the market. Both types agree you have to trade the market that is in front of you.

At least in the olden days of live floor trading they could figure things out afterwards while marinating ice cubes.

[Al_Dente]

HAPPY HOUR

[ccash04]

PPT hard at work today. Not playing this close could go either way, seems like it should go down but would assume people want to see that hammer close.