And that is exactly what we have going into Dec 5th's deadline, my friend. A perceived collapse of the global financial system. The markets do not like uncertainty, and especially do not like 1st-time shocks. COVID was a first-time shock in living memory. A US debt default would be first-time-ever shock in any lifetime. Markets will not like it!
Took stop losses earlier in the week, but at least I made some back trading uvxy end-of-day bounces, and had a green day today so that's something. Seriously, take a look at the end of day pivots in both UVXY and TZA today, they're very common repeatable patterns that I like to trade. Plus I successfully traded off lod UVXY pivot starting 17.62. Also doing a lot of long day trading breakouts like AMC etc, better time for day trading then swing trading. Though I like KOLD and YINN for swings. Tough week, thought it would be red vs green.
The trend from September has been down off ath testing 100SMA but these last 2 days broke the trend. still wouldn't surprise me to see selloff next week. unpredictable
Fair enough -- do you use any momentum indicators? I observe the trend but also use momentum as basis for when it might end.
(no re momo indicators, i used to use ADX alot tho) here's eod UVXY TZA. great runs, nice no-volume closeup charts. very common pattern btw HUGE thx to whoever said to try no-volume charts, strategic-level improvement. i def trade better. that tip alone makes being here a big value-add... et rox
%% No volume makes for a cleaner chart; but i've used volume to much to change/LOL. TZA + TWM are up again@ area where i cut a loss on them LOL. But i like TQQQ+ UPRO better. May or may not get back in TZA+ TWM\ but late OCT can be bullish for small caps. SEPT did have a good run for inverse ETFs.....................................................