nice overnight drop. Not completely surprising given @vanzandt being a bear. I also noticed a few people I watch on twitter FINALLY give in on the bearish stance and taking mega losses on their positions/accounts yesterday which always makes me think we'll get at least a little drop soonish as the market is cruel and always tends to put salt in the wound of traders who finally take their hit! lol obviously very tempted to get long here for the inevitable 'V'. Although it's early in the globex session which tends to make me slightly more gun-shy, plus who knows, we might actually get on of those rare (2-3 per month) down days on the markets lol I'm just holding my longs for now and not adding yet. After building up such a great buffer (even yesterdays +320 ym points and that's just one day) i'm obviously in zero pain on this drop. Will re-assess when/where I add some longs later good luck
Funny how that works. LOL. Yesterday's late session spike seemed a bit climactic. Nice call from @vanzandt! I'm trying to ease a bit into some kind of holiday and wasn't planning on trading much today, but the market's oversold here short term unless there's some actual reversal happening, so not sure I can resist this dip.
Congrats on your huge win Yesterday seemed like an ordinary up day to me. Show me a 5% up day and then we'll talk about climaxes @vanzandt and @schizo had a good call, but maybe a bit early. Enjoy your holidays!
1. Futures slip as tech stocks slump U.S. stock futures fell Wednesday, retreating from record levels with the tech sector taking the brunt of the selling after a downbeat forecast from Dutch semiconductor firm ASML (AS:ASML). By 04:30 ET (08:30 GMT), the Dow futures contract was 70 points, or 0.2%, lower, S&P 500 futures dropped 45 points, or 0.8%, and Nasdaq 100 futures fell by 270 points, or 1.3%. The main indices closed higher on Monday, with the blue chip Dow Jones Industrial Average rallying more than 700 points and closing at a record, while also posting its best session since June 2023. However, sentiment has turned negative after ASML's (AS:ASML) third-quarter sales forecast fell short of estimates despite a strong second quarter, with sales reaching the high end of guidance. There are more earnings to digest Wednesday, including from United Airlines (NASDAQ:UAL), Johnson & Johnson (NYSE:JNJ) and U.S. Bancorp (NYSE:USB). On the economic front, the Fed’s Beige Book will also be released, as will housing starts and building permits data for June.
Impressive sell-off! Down 1 % here pre-market. Unless something actually changed, surely 50 should offer a good buying opportunity.
If in RTH we make new lows, I'll be looking at the "bounciness" at 5630-ish and gap fill (and Schizo's target) at 5610-ish. "Bounciness" is totally trademarked, don't even dream of stealing it from me
Seems, 60 point gap opening. That will be a nice trading range today. The right range for algo maniacs.
The US V-Day crew got this! As long as the current LOD (55,25) or 50 holds - would assume we could see 90 or 5700 from here.
Dip-V-Buying mode engaged. I used the Globex open as a profit target. Done for the day as I have to do actual real work today. About $250 of today's profits were a premarket NQ trade. Yes, I just can't leave it alone. Good luck today, guys