One more V? It's a Monday and there will be another V force this will have to overcome. Best Case Scenario for bears a test of QQQ 482, the more likely scenario is a doji around 487. If this completes the hourly red candle, we will watch for that magical counter green candle at 12:30.
That's a very clean sell. 40 points down without much counter-movement at all. Sadly, I wasn't on board. Short pre-market looking for a test of last week's low, but my trailing stop got ripped out by the V-force. Timing is everything in this game.
That's the thing. The waves of selling are so small and before you blink, they throw a V in your face. So hard to nail it. Easier to anticipate the V.
I can't remember the last time the market was able to stay down. This is not your Late 2010s where the market could bleed lower or trend lower. No, it's impossible to stay down. Every time there will be a V, the only question is when will the V occur. Today you had the classic double bottom intraday that led to the V. One has to remember that the market is never bearish, it's only a temporary state before they throw massive green candles at the thing.
Bit of a rockstar, isn't he! Small red day for me. Basically short soon after teh open. Was in a nice winning trade. Decided to add to the winner (something that never seems to work out for me but thought i'd give it a shot lol) and the end result was a BE trade overall. (as I luckily closed the initial short at the low of day at the time before being stopped out on the add on) Then got long and it was looking pretty good, but I got caught out by that dump which ended up being a red trade on the long. Someone did warn me that 5770 ish would be a 'hurdle'/poss decent short but I didn't see much there so ignored them. D'oh. My 'problem area' on the upside was a fair bit higher than that and we never made it there
Data analysis by CNBC (hey, data is data) for index action after the election. Oddz favour a little rise, after some chop: https://www.cnbc.com/2024/11/04/wha...ter-the-us-election-according-to-history.html