There is a strong potential for this to come back most , if not all the way today with financials leading the way. See you at the close.
draw the long term spx chart upper trendline to see why you should had scaled out yesterday at the top
Heckuva trade. However, NQ moved 100 points north in 10 minutes after making new lows and a double-bottom.
I never scale out. That is a strategy that underperforms, and is inferior to, all-in/all-out in my view.
Not challenging your call. May very well do that. This has been a retarded market. However, I don’t see it happening.
If not today SVZ, then soon. I see no break in upward trend here and just believe that profit taking/rotation continues.
Every dip was bot since the 1:50 pm low at 3446. Traveled 16 pts north and then Wham, got slammed down hard. Mean market.
No - this isn't a healthy pullback, but a huge drop. It's possible the market will reverse from today's low - but let's not call this what it's not.
Long only traders who don't compound can easily handle today's drop and more. Long only traders who compound their account could blow up on a day like this.