Indeed. "Drop" by most folks now appears to be defined as 50 percent or more over a couple of years. Hell, maybe even 70 percent wouldn't work these days.
So lock up your daughter Lock up your wife Lock up your back door Run for your life The man is back in town -Angus What was that news btw? I looked and didn't see anything real big.
speedo, I took the same trade but in NQ and based on volume activity on the 1 min. You trade off 5 min ? What was your basis for this long ?
The market simply found that nest of sellers, again, who have been camped out at $3233 on S&P 500. That was the fifth of five intraday touches this week and each had the same result, i.e. there are sellers camped out there. No news necessary to cause that minor reaction. Whether it was intending to be a major reaction remains to be seen as the bulls were literally saved by the (closing) bell. Where news would be helpful and likely have a profound effect is if someone were to drop some Covid-19 vaccine PR 6 minutes before the regular trading hours get underway in New York. Price needs to jump over those sellers and make them turn tail and chase price as it rips higher.
Pretty much sums up where my current thought process as a whole is at as well. As an aside though - I think it could get bloody in the short term if say we finally breakout of that 3220 level or gap above it then reverse hard. Isn't next week mega cap tech earnings?