amazingly I've been bailed out on ES again and am now fairly green on the day!! flat here on ES now. Pushed my luck a bit there. Even I didn't expect that V bounce lol (but was just holding it 'just in case' as, in my head, i'm kinda gambling the previous month or so of profits against the idea this doesn't completely fall apart) Still long YM from way 'up there'! - although the losses on it are only a small percentage against the gains made from BTFD the last 50 days or so, so all good for now
The market is so fake. The low on the QQQ right near a VWAP level. And boom already $3 off the low. After this gaps up tomorrow It get back to 490-492 and right back to the same range all month. Today was much to do about nothing. They let the market drop for 4 straight hours without a V which is a huge accomplishment. SPY couldn't even get 1 full percent.
Every dip is but a chance for guys like me to be panicked out of our swing positions only to be forced to FOMU at higher and higher prices.
Today was the takeout of last week's low. Tomorrow the march upward to complete the outside UP week will continue.
I mean what you're saying is true, but by the same token every rise also gets "fought off." It's just a different direction. I mean if you get you're V tomorrow and the Q's go to $495, then Friday they drop to $488, the upside down V is just as relative. As of today, going back to my original post, we are now down .7% from July 5th. So with every V up, there's been a proportional V down over this time-frame. They might not happen back to back, but I don't really see the significance money-wise unless you have an absolute perfect timing on picking the lows, and also have a 100% perfect record of never buying a V either intra-day or overnight that continued down after you bought it.
There is a significance... On a big enough time-frame, there are no V's or inverted-V's! Meanwhile, on an intraday basis, the only time frame *I* care about for trading, V's and InvV's do sometimes occur.
The market is the market-- no need to label it anything else. You can make money in both directions, after all.