Glad I sold my 3 longs this morning.... Xiv only sold 1/2 Spxl TQQQ Bought them 2 weeks ago and holding them through yesterday's drop I lost a bit of my gains so today at the open I couldn't resist selling them for a profit....a smaller profit of course but don't want to be holding them when the S$P breaks its 200 day moving average .....looking for a 5%+ drop Missed out on SOXS under 13.35....nearly every single time it drops to that level it jumps back above $14....next time.... S$P headed below 200 day...
If market sells off 20-30% ...yes QE 4 is coming quick...no other way to prop markets higher but to print trillions of dollars and give it all to wallstreet
so, does that mean the bull market is over? Or is it still going on like it has been since 2009? one day it was up and I thought we were still in a bull market, and the next day it was down so I just assumed the bull market was over I wish they would make up their mind!
Today seemed pretty ominous, im not going to be shorting again here, atleast not until it breaks, but I sure as heck wouldnt want to be long, the market seems to want to test Janet Yellens resolve, on no more QE.
As soon as you think the market is going to break down it gets propped right back up.... Big earnings tonite from Amazon Google and visa..... Visa is heavily weighted Dow stock so that should move futures pretty hard tonite up or down. Im guessing up ...
I guess Yellen came out mid day and told chuck schumer they werent raising rates any time soon, if your a bear, fear the beard. http://www.zerohedge.com/news/2015-...democrats-what-feds-monetary-policy-plans-are
%%%%%%%%%%%%%%% Good trend points BAC took out the 200dma level + price action did it again for quite some time.Of course market is bigger than BAC + MSFT.............................................................................................................................................................................Old bull markets can get older, but they have to make higher highs[monthly] + higher lows to do that.