It will be interesting how it plays out. Monthly chart, technically, from countertrend perspective is a classic sell (SPX climbing towards 20MA, 7MA about to cross 20MA), whereas fundamentally a lot of folks 'in the know' are of an opinion that there aren't many arguments that could be made in defence of a start of bear market, with whom I wouldn't argue personally, as I do not pretend that I understand macro economics, who does anyway? Like it or not, sentiment will be the ultimate judge.
everyone is expecting no rate hike, followed by upside that's why it's very plausible for the opposite to occur
Sold my SPY 200 calls for 100% gain. About to ditch a remaining ES 2000 call. I had a good feeling this would happen which is why I picked up those lotto tickets a week or so ago when everyone was talking about "MORE DOWNSIDE AHEAD!"
C'mon guys - that was just the pre-session. The real session starts at 8pm ET and will be picking up steam by German open.
greatest pullback is 300 points, until that is surpassed... market remains in up trend -- indicators don't means shiz and fundamentals don't either
Imo it's not like it isn't going to retest 2020-2030 before it heads back down - especially in the kind of markets we have today which relentlessly retest. It probably will indeed go down but you might be too early. The general speculative dumb money expectation is short right now and while they may be right they usually get raped beforehand.
Aftermath, what were folks saying back then? As always, two camps, up & down IMO this is the decider for markets, not calling for a top, just continuation of the correction.