I believe the stage is set for a new rally and for the market to make new highs. This correction is almost over in my opinion.
It's funny because I was trying to get short all day but by 2:30 the market was having none of it, being so obviously supported by the Fed. Finally by 4:00 PM EST I said screw it and took my profits and closed my broker window. 2 seconds late the market tanks into the close. opm8 PS: oh, and there's 100% room to the downside, fyi. lol
I love how the Federal Reserve consistantly time after time bails out the biggest trouble makers while the responsible firms get nothing. The Free market has always been something the masses have to live with while the 'business elites' know they will always the Federal Reserve bailing them out using OUR money. A bit like Russia really isn't it?
the markets in the stock index futures ETF's were steady to higher in after hours trading friday ... no panic selling there for what it is worth
The big GS drop right before closing was almost all recovered so I see a nice pre-market upside especially when the European markets open.
Yes... tested the previous swing high and buying pressure dried up. Very easy to see. Not rocket science, even for a newbie like me. I shorted and made 5 ES pts. on 10 contracts for $2.5k, then went to the titty bar.