For anyone that cares... the SPX equal weight closed down 1.1% today. The Russell 2000 closed down 1.65%. Once again, the magnificent 7 did the heavy lifting to squeeze the shorts. The trap door is gonna open soon.
So today was the first genuine test of 4300. The daily candle is a doji. So where to next fellas? #5280 Wednesday at 3:02 PMReport Reply Share
After a 3 day round trip back to a second test of 4300. If this level ever well and truely breaks it could be epic.
Well, Powell spoke today and the market didn't tank. That bodes well. ES flat / NQ + 0.81 %. I think there's a good chance we put in the week low today. Let's see how tomorrow opens.
I've been noticing for quite some time that you calls are usually excellent. What is your crystal ball? With this particular one, we never did hit 4367, but we came close-ish to 4280. I see LF is thinking maybe the low is in for the week, would you also consider that the low today is it, or are you still expecting 4280 to hit?
October doesn't seem like that bad a month to me. If you saw what I wrote earlier in the thread most weak Septembers have been followed by a good October. Not always of course. Just mostly. Of course, one have to question how much value this type of analysis has, but I think it's interesting to pay attention to nonetheless. Here's every October since 1990:
He's a bit good, isn't he. I never know how people can have really strong conviction in an area fairly far away being hit very soon. Like they have a 'magnet' that is somehow generated. I've seen a few traders who appear to be able to do this! Must make holding your winning trades a lot easier!