Yep, the entire move magically gapped up. You really can't make this up. Another massive V. That was the whole point of yesterday just show it would do the giant V thing. That is 2023. That is our new market.
408 is pretty close and it can't sell off, every time the V is right there. Blind dip buyers always get rewarded in this market. It's just amazing how they can't let this market selloff. If this were '22 or before you would get a $6-7 selloff today and you'd have a nice, $13-14 swing, but this is 2023 and that simply is never allowed. You get a significant red day and it must be countered with the V.
Look again, yesterday's high was 410.47 If you consider 408 407.92 close to that figure then what is far? Anyway it still is less than 50% of the way back. Will it get there at some point, maybe even today, sure. But in order for the market to make a V it needs the first part (ie drop) to happen - which you for some reason always ignore. As well as jumping up and down ... after the second part of V takes place. "Act like you've been there".
%% LOL\ his title is wrong\ wrong for so long \ barely Up from last close . UP for week , but so little up\ glad to rake off some SPXU profits today . May not do that spxu again today/market clo$e in less than 2 hours.\barchart.com rates spxu =100% sell
No. It's been up huge 8 weeks in a row and still after the huge run, it can't pullback. No follow through from yesterday, just impossible for this thing to go down. I don't know how you can argue anything else. This is the most unstoppable market ever. Every dip is fought with everything they got. You know it will hit a new ATH in the coming days. We will see occasional hours or short periods of time where it temporarily goes down, but it will never be able to sustain a meaningful down move again.
Why not? What changed? One could argue that the stock indices have never sustained any meaningful moves down, so that's not anything new.
%% Exactly on first line; 2nd line \ i beg to differ, in hindsight LOL Matter of fact bear killer OCT \SPY nickname NEVER lived its name this year\ rocket below 50dma\200dma. Thats NEW, to me anyway ; [v]Victory anyWay....................................................... And would to God the gov would mostly liVe your nickname; not with Red Sea pirates, but mostly LOL
Not true. There were down periods before. Never was a guaranteed free money V like we are seeing now. And I mean an instant V. There was fear. It was not this idea that no matter what you will be instantly rewarded if you bought the dip. If you can't see that this market is much different than before, I don't know what else to say.