There's too much money being pumped into the system for this to go down. I should say unlimited money. This is never going away. There's only rare opportunities for this to ever drop and you are always going to get a V. There will never be any panic selling ever again. If you want to say I'm wrong because of that random fake drop on August 5th then sure. And for those that say the market always goes up over time are missing the point, there is never any selling pressure, downside momentum period. There are just brief windows of opportunity where it can chop, but every red is always going to be fought off. Even on a random 1% sell day, the moment it hits a certain time the selling is magically gone. It's not even real. The V already begins. I am not trolling. This week is a massive green candle. So a small red today sets up new ATH tomorrow. Monday this never goes down. Now you are Tuesday and if you are short you are just praying for some retracment of this weekly bar. And every single dollar is a battle. We are getting closer to the holidays. Combined with one of the greatest holiday pumps ever. All the long term charts showing a massive green candle for the month, QTR, ETC. How exctly is this going to go down? It won't.
Nope, no chance it's going to give up the massive weekly candle. And with a slight red today, it fits the perfect 4/5 green day week the market lives for.
Okay. Thanks for sharing your view. I definitely agree on some parts. There does seem to be a very persistent bid in the markets. Maybe part of the explanation is the flow into passive index funds. I had a thread about it a while back. Saving in index funds wasn't very common here in Norway earlier, but these days it seems like everyone is saving money with index funds. This is obviously incorrect. Where were you in 2020? SPX sold off 35.41 % in 23 trading days. What's different from now and then? 2022 sold of nearly 30 %. Even this year have had some really nice down days. I think these type of comments is what makes people think you're trolling.
I think SPX can close unchanged today. NQ, not. Obviously. I'd like a gap down open tomorrow for a buy.
C'mon now, give the guy some slack. He's having a blast. No need to remind him of all them pussies in the closet just waiting to jump on him. He'll find out eventually.
I was gonna mention something like this the other day. In recent months I started to see so many adverts and promotions from banks and the like who were offering their own new 'tracker funds' along with all of the copywriting, explaining to us how 'the sp500 tracker done 25% this year. Much more than your bank savings interest!' type stuff. They all made it sound like 25% per year is risk free and guaranteed if you just put your money in the SPY (or their equivilent) which, hell, maybe it is!! haha. Vman would say it is I guess. Changing times! Didn't see any sort of advertising or even my banks offering that kind of stuff before here in the UK, personally It made me feel a bit bearish tbh (the usual idea about when the whole world thinks something is basically 'free money' the turnaround is close) but tbh, not bearish enough for me to consider shorts or even rethink my current 'method'! Been burnt enough times over the years for even considering being bearish for anything more than a scalp! So i've still got my '7k es' hat on!
You know the market's been dull and bullish when a 13.50 point drop from the prior Close feels like a mini-crash.