We're looking toppy....

Discussion in 'Trading' started by bbraunstein, Jul 31, 2002.

  1. that's mind boggling! lol jk
     
    #21     Aug 1, 2002
  2. What was really interesting about yesterday's end of the day "suprise" rally, is that i think it took many by surprise. Yes, spoos could not make new lows, but trin and trinq indicated that there was a decent amount of selling pressure.....especially on the nazcrap. Also, down volume was greater then up volume, although not by much on the NYSE. I guess it is tough when the markets appear as if they are going lower and then they rally all of the sudden. And I mean all of the sudden.

    It will be interesting to see what happens today...
     
    #22     Aug 1, 2002
  3. Wow, what a day. I did manage to pick some OEX puts up this morning and they did quite well.

    Now the question is, will we continue to go down now, or will we bounce of off support levels?????:confused:
     
    #23     Aug 1, 2002
  4. exce26

    exce26

    July 30th, Aug 1st shows Double top resistance
    It will likely retest previous low.
    After that, we can see where the market really goes!
    :D
     
    #24     Aug 1, 2002
  5. tuna

    tuna

    Gap fill for a start maybe huh,failing to get above that MA ain't painting a long picture,for the nas anyway
    .....mind boggling stuff ain't it Gordon
     
    #25     Aug 1, 2002
  6. the lack of a last hour rally today makes me more confident about getting a retest.
     
    #26     Aug 1, 2002
  7. Banjo

    Banjo

    Comp failed the 20dma, SPX, Indu closed back below the 20dma. Many watch the 20,50,200 ma's for inflection points. We move down and try to form a W probably. Or not. The #'s in the a.m. will exacerbate whatever happens.
     
    #27     Aug 1, 2002
  8. what numbers are due tommorrow ? Anything Big ?
     
    #28     Aug 1, 2002
  9. At this point, my target on the downside is the gap in the spoos. If we look weak and it doesn't look like that gap will hold, I'll hang on to my shorts and puts.

    Someone yesterday on this thread mentioned the buying pressure that came in during the afternoon yesterday.

    Today we saw the same thing.....Happened from 3pm EST to about 3:30pm EST......the nyse tick went from 0 to 1000 like three times!! Someone was trying to keep this market propped. Probably the PPT. Amazing how they can just have the big boys pump up the futures and keep things up like that.

    Ultimately, the selling pressure was too much. The naz is going to die.
     
    #29     Aug 1, 2002
  10. tuna

    tuna

    08:30 Nonfarm Payrolls Jul
    08:30 Unemployment Rate Jul
    08:30 Hourly Earnings Jul
    08:30 Average Workweek Jul
    08:30 Personal Income Jun
    08:30 Personal Spending Jun
    10:00 Factory Orders Jun
     
    #30     Aug 1, 2002