GM report @ 10:30 Obama's press conference with possibility of Democrat's new 170 billion stimulus package (too little, too late) but can help markets rally Looking for rally to 938 resistance, then last hour -- who knows? Another spiral down to 882 or 860?
If ES travel down to 880 within couple of days, many timeframes will show oversold condition triggering either buy signals or profit taking signals for many trading models. That in turns can lead to a bounce.
In a bull market, you buy the rumor and sell the news. In a bear market, you sell the rumor and buy the news.
Aside from politics, I believe we're staring at the same page. Although I can't express it, something feels downright disturbing about the current environment. As I already stated, everyone somehow thinks this market must be saved. But I say, sez who?
I am not talking about 917, that is a bounce, but 945, now that is a rally...That's where the SMA is on the daily...
No, he had a saying, i think it was about selling off into the job report and then rally or something like that. Someone on here used to bring it up from time to time.