Dear Overnight, if you have studied price action you should notice that the buying pressure is tremendous.
That's what scares me. I remember what happened in Jan-Feb 2018. Back then we were at all time highs, pushing new records almost every day. It didn't happen in Jan-Feb 2019 because we had just had a 20% pullback. Now he we are gain, just like 2018 again! For the love of God, do not stake all your money in this current bull run.
Dear Sir, you are mistaken. There are several key differences between now vs. early 2018. Also the buying pressure show in the intraday price action is far greater today. All-in is the only play here.
Agreeing with you on this, that was a temporary blip on Friday, going on up, mkt still bullish, being short atm big mistake.
actually the sell off into the close was just people who don't want to hold over the weekend worrying possibly more developments on the Iran thing. free insurance premium money you could pick up... Monday is almost certainly a gap up open, or a run up shortly after the open. this has happened too many times in the past couple of years. President Trump doesn't blow smoke. He just does things his own way, but usually turns out better for the USA. just take the risk premium you will end up ok.
Yeah, he certainly didn't blow shit when "he" let the market fall 20% in Q4 18. How do you explain that? You cannot. Just like when the next 20% drop, which you will not be able to explain, will be more painful.
Create a watchlist for futures markets and watch them in the overnight session. You'll quickly realize that the market almost never stops moving. Usually there's not a lot of action when markets are complacently grinding to the upside. But when volatility picks up you'll see 20-50 point moves in the S&P 500 overnight. If you see a big spike of volume or move in the overnight session its likely due to news. Thinkorswim has a public watchlist with all futures traded if you're with TD
Yep, exactly, people are worried about any potential negative news that may come up over the weekend relating to the Iran situation. I believe if it wasn't for that situation last night the market would have continued to rise today rather than dump overnight in the futures market and continue being choppy all day. As long as there isn't any negative news this weekend, things should continue to climb next week or most likely Sunday evening when the CME opens I would expect.