Telling you..1385.00 is a magnet for the S&P500..path of least resistance and an area to park price for the Fed to force their hand on a "Fitty" cut.
I think we forgot Stocktrad3r. This is part 2 " Return of Stocktrad3r" Stocktrad3r was bull and Jreynolds is bear.
The worst he has ever seen, this was obvious, I pointed this out in 2006 when everything in housing was doing great, why should there be any questions regarding where housing is headed after housing prices ran up over 100% in about 4-5 years, this was going to happen, you cant send housing prices up 100% and not expect to see some kind of drop like the one we are having now. There is not going to be a bottom for some time. If you are in the market to buy I would say wait at least another year.
For the record: I took about $800 total combined position heat on this long. I have flattened. Not my best trade, certainly not my worst. Worked out to only 1:1 r/r. Overall, however, not a bad day. As stated in my initial "prediction" for the day... fade the advance, then Buy. On your own for the last hour or so. "Or so" meaning good trading to all Osorico
Bring on the bear market we can still make money the same old fashioned way- trading the hell out of it. But this ain't BEAR MARKET either! This is something weird and unstable
Next pit stop for SPX 1385 if we donot hold here. Get ready. Stay out of it till I see SPX cross 1450 levels with some authentic moves.