Holy cow! I got to a computer expecting carnage and we're in rally mode.

Yea, this is pretty interesting.... Tick's hit its highest reading in a couple weeks, usually represents institutions, so I don't know what to think. And it happened in about 15 minutes.

Cronus - I see that consolidation but you rightly said it is just a bet which way we go. Right now this is just another meaningless sideways day above major support.

We have a Captain Obvious call should we lose the major support that would be a new leg downward consisting of a minimum 500 points. But we have a channel bounce which technically speaking we are still in, so absolutes are best guesses short term. Everyone sees us near lows and the natural thought is that we are going lower. But the support is called support for a reason. ha!

Now once support is lost the move is fierce. It's just not happening now.

Well I'm enjoying it.

One of my favorite things to track is a monthly chart. Each bar is a an entire month of trading range. It is a terrific confirmation check on what all of the other analysis is telling me. Do you see it??? Hopefully this also shuts up ,excuse me, ends the narrative of the lame "but you said we were going down" on days (or even weeks) when we go up.

Japan and Europe futures continue to sell. They weren't fooled by the US computers today. US futures turn negative. Going to be a good day tomorrow. If we go up then you have the fed to thank.

Are you a permabear Frisco, you seem to only trade the down market. I'd consider my permabull, I got serious about trading in 2008-2009 so have a bullish bias. Down days are more fun though because it's so much faster.

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Japan and Europe futures continue to sell. They weren't fooled by the US computers today. US futures turn negative. Going to be a good day tomorrow. If we go up then you have the fed to thank.

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Nikkei down 300. Better rally in their 2nd half.

Right now? Hell yeah I am. The trend is down and I'm looking for entry points. I'll use that cash later and be a "permabull".

Japan down 10% in 2 days wow. Their 10 year yield is .01%

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Japan down 10% in 2 days wow. Their 10 year yield is .01%

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How about those negative interest rates?

It's amazing in Japan, Europe, and even here with these low rates people still don't want to risk it on a investment that has to yield 1%

Japan is only down 3%. It's not really that bad.

Don't mean to derail the current discussion, but I'm curious - does anyone subscribe to frequent market newsletters? I'm fairly new to investing, and am wondering where to get some good research info instead of just randomly reading website headlines

Was there anything that caused Europe to rally last night?

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Was there anything that caused Europe to rally last night?

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Like anything else over the short-term -- variance.

DISCLAIMER - I do not day trade and the following is merely based on Fed congressional testimony dates historical data. It does not impact or alter the long term/macro discussion whatsoever. I have 50% long positions in AMZN, UA, GS and others which are the remainders of buys from the retest lows. I have taken no new positions on shares but have sold covered call options on daily/intraday rebound spreads. Thank you.

You can pretty much count on the Fed testimony minutes to be positive with the markets being under pressure.

Odds of a further short squeeze driven rally goes up this afternoon.

If you're short, you want to stay below 1880. If you want to go short, 1880 I think is a good entry. You want to get back below the 1863-1868 range in my opinion.

"Don't fight the fed"

BOOM. I didn't play it though

Nice coin flip.

Well lady fed chief didn't say anything positive. Even talked about entertaining negative interest rates. I feel confident in where we are heading.

Which is?

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Which is?

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Which is?

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like deja vu 2 year period

I'm playing CSCO today on earnings report. They are usually good for a good drop even if the meet or exceed expectations.

Wow! Missed huge on Cisco!

Twitter getting crushed

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Twitter getting crushed

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? Up 7 cents after hours. You mean earnings crushed?

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Wow! Missed huge on Cisco!

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$15B buyback sends it up over $2 in after hours.

No! They had a great report. The miss was 100% me.

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Twitter getting crushed

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? Up 7 cents after hours. You mean earnings crushed? Now down 18 cents.

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No! They had a great report. The miss was 100% me.

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Ah...ok...buying back 13% of the total outstanding shares certainly won't hurt their price