Just don't see much downside . Outside tech things were pretty flat . Es already 20 off its lows.I'd be shocked if we go sub 3100 in the next few weeks .
My money is on the uptrend continuing unless, proven otherwise. Closed my trade on ERIC, made more than enough to cover previous losses on LVS and EBAY. Just my 2 cents. I think this stockmarket will skyrocket and move much higher. It has not wiped out the shorts yet. However, it is coming.
Your title doesn't look right. Todays action was clearly ugly ---> 23 Jul US market was very good for trading. bull or bear, beautiful or ugly action, up or down, traders can earn $$$. always trade in the direction of the flow. Stop complaining. And be grateful with such huge trading opportunity.
Yes. Closing of the Chinese consulate is probably the top. It's virtually an act of war. We're finally putting China in their place. It's not going to be good for stocks exposed to Asia (Apple)
So far, it hasn't done any significant technical damage. Funny how the S&P is still higher than it was on Monday at the open, it made a new several-month high this morning, not too far from ATHs and people already calling top. How many times have I heard "TOP!" since March 23?
Got stopped out on a couple of positions, locked up profits on others. Not the best of days but, not the worst of it either. Staying put on my other positions. I still think this market is going higher. Like a coiled spring, this market is ready to bounce back higher.