I can't imagine swing traders holding short into holidays especially near swing lows. I would expect a covering rally with maybe bargain holiday hunters before the end of the day...We shall see...Maybe the bargain shoppers don't come, made enough money this year, and are willing to miss out on a mini holiday rally bounce, or whatever...Will be interesting, but they are having a hard time trying to break this market down this morning, but is that their goal really?
I see a lot of red bars in ninjatrader...doesn't look like it's that hard to bring this drag down this morning. I see a push down to yesterdays low and then a crap range the rest of the day. End of the day rally just because there are a lot of weak sisters who wnt to buy out of their shorts before the weekend. System says HOLD IT short, so I'm...riding the dragon downtown!!!
If they are going to break this market down, today is the day. I don't think they will be able to get enough juice to do it over the holidays or at least next week. Sitting near swing lows, hmmm...
If the consumer has been feeling the pinch they have been waiting for this bargain period to make their purchases. I am long here and expect a sharp rally especially in techs in the next 1-2 weeks.
Techs or Naz to be more big picture, held their 200 day nicely during this selloff. All this bad news and the NAZ didn't break it's 200 day. 4 horseman whatever, that's only 22% of the index, there are many tech stocks above their 200 day MA's in the same pattern.
Not quite.... I counted only 7 times from 93 (start of spiders (spy)) to 06 where you would have made money if you bought the day before thanksgiving and sold the following Monday. BTW, that is 7 out of 14, which makes it a perfect coin toss.
Options expired worthless or assigned. Clean slate. Mister market over-sold based upon both highs/lows and advance/declines. Tis the season of the year. Dawn we now are gay apparel. Wall Street's function is the selling of paper. They now have paper to peddle back.