I'd love to know what's the mix in this (impressive) bounce of: short covering (<>) longs bailing out on the bounce (-) buy and holders (+++)
Sure, could be, but this pop was caused by Trump and Trump only. If he would have said something negative the market would have tanked without taking technicals into consideration at all.
Small print: "Karoline Leavitt, the White House press secretary, just told reporters that the tariff level would be brought down to a universal 10 percent."
Could have tanked. We'll never know. I just know that the market was ready to move higher. Trump could have said something negative and because the market ready for higher, it could have gone higher. I don't pay attention to news for trading decisions. It's too easy to interpret news incorrectly.
For example----My understanding is that Trump raised tariffs further on China, yet the BKTCN index is up 2.6% as we speak.
a relief bounce, rolled my remaing cl calendar strangles to july, credit rolls, will sell some cl calls exp friday 68, busy... why the heck did i take larger losses this morning?