I thought yesterday's reaction at the year low was a bit interesting. Price was just sitting there and not much happening. Wasn't the fact that we didn't break lower a small clue that maybe we could be finding a temporary bottom...?
I didn't think so at the time and I believe we are in a 3rd wave down. Given what I had to go with, I went with it. Any excuses that fllow after the fact on my part are worthless. I just acknowledge that the Market beat me real good and get on with it.
Bear market rallies have this reputation of maiming sh\ocking and surprising. I was had today!!! Will it happen again down the road? Be sure it will. Its the cost of engaging in a BEAR blast = cost of doing business = cost of goods sold
For what it's worth, I'm sure we'll head lower eventually. Might not be as bearish as you seem to be, though.
For sure we will head lower. IMO this is a 3rd wave down ......... lower is a given. And yes, I am super bearish to SPX = 666
continuing on after today's ignominious defeat .............. the continuance down when it starts, tomorrow or day after or after rally if ther is a longer rally ................. then this applies .............. Someone told me long ago there's a calm before the storm I noooooo its been coming for some time it'll rain on a sunny day Shinin down like water
Treasuries and the market were both moderately oversold, particularly the selloff in treasuries. The RSI for both were at 25. The technical trade and percentages for the market to go higher don't get much easier than that. I bought energy and the Dow at the open today and sold end of day. If you see continued buying in treasuries, the market will continue to go up. Stronger dollar= Market goes down, weaker dollar= market goes up, currently. As it has all year, the market is still trading rationally and staying within normal parameters, both to the upside and to the downside. Could we see a dumpster fire? Sure we could, it's just that the odds are not that good, and there is plenty of liquidity on the table. Goodluck.
%% The good news= that'$ just one day\still a downtrend. I bought , including but not limited to \McIntosh apple trees[Stark Apple Trees bear fruit]; Bear Symbol. May take 7 or 8 years; unusual apple tree that bear'$ fruit in one[1] year. Usually SEPT has much more of a bounce/ early month bounce ; and first five + last five days tend to be up. Strong bear; remains to be seen if OCT lives its bear killer nickname. 2008 bear sure not killed in OCT\2008, not a prediction, but a good tasty apple
Apple stock may not be a ‘safe haven’ for much longer, Bank of America warns in downgrade Published: Sept. 29, 2022 at 1:45 p.m. ET https://www.marketwatch.com/story/a...-warns-in-downgrade-11664473518?mod=home-page These analysts are sooooooo slow .................... I called this here and nailed the exact TOP when not one single cat worldwide ever saw it coming ................ https://www.elitetrader.com/et/threads/apple-sell-it-all-and-close-out-all-longs.369174/