Wouldn't shock me if the error was on my side. Thank you both for confirming. Now back to our regularly scheduled slow, boring grind up....

38.2%? Not sure.

I was speaking from the 4600 peak from March to recent 3818 low on SPX. Close correlation to 420SPY.

Push time.

AAPL 144, QQQ 300.75, TSLA looks ready to go if those two can happen

Convince me not to sell a bunch of calls on some of this run up.

SF2004 said:

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Convince me not to sell a bunch of calls on some of this run up.

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I sold CCs yesterday so I can't help you

I don't think the 300-300.75 QQQ range will survive power hour. Not favoring a break up based on last 15 minutes.

Triple_Bagger said:

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SF2004 said:

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Convince me not to sell a bunch of calls on some of this run up.

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I sold CCs yesterday so I can't help you

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I sold the $108 Jun 22 on AMD. That would be an excellent target for me to exit this month+ long trade.

Guaranteed to blow right past that now and just make me angry.

From 3/29 high to 5/20 low, 38.2% is ~411.70, 50% is ~421.30

after today my 19 shares of NVIDIA only down 29% from my cost basis

better keep pumping in the next year

on the other hand...Bristol Myers was given poor reviews on CNBC, yet has given me a 14% profit and Fidelity rates it 8.9 bullish

Really annoyed that I didn't jump back into BBW and RRC. Why have it on your watch list if you aren't going to act on them?

We going to dump into the close?

AAPL is holding strong. Hoping it Wants 144.

Them some mighty tight 5m bands on NVDA

just recharging here I bet - and then gap up overnight.

BrokeAssAggie said:

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We going to dump into the close?

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I picked up some puts for a scalp when SPX finally broke under 4060, so.....probably not.

EDIT: .....Aaaaand I bailed after SPY reclaimed 405.50. NOW we'll probably dump into the close.

AAPL wanting 144. AMZN coming back to life. Nice little shakeout with the dump freeing up room to run with less calls. I'm thinking upward close.

I couldn't really play today while traveling. I went long upro at the 3850 area and I sold it all today.

Voodoo

Which way do we go tomorrow?

Farmer @ Johnsongrass, TX said:

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Should finish the week nice and green. I'm thinking red to start next week. We'll see..

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I agree. I think next week we'll likely test below yesterday's close and maybe all the way to that trend line.

Either 90% upside days or back to back 80% upside days can signal the reversal out of a bear market. This works roughly half the time. When we are in a bear market we do get 90% upside days followed relatively closely by 90% downside days if we aren't reversing.

Today was an 87% upside day and a back-to-back 80% upside day. More info on what it all means here: https://t.co/0CaG1R58lQ

— Walter Deemer (@WalterDeemer) May 26, 2022

On May 13 we had a 90% upside day, then we had a 90% downside day on May 18. This seemed to invalidate May 13 as a reversal signal. However the last two days we have had back to back 80% upside days. Once again this could be signalling close to a reversal. If we are able to close above the May 17 close, confirming above 4089, I think we will have a nice green run. This would need to happen tomorrow or by next Wed. Of course if we get another 90% downside day or back to back 80% downside days that would again invalidate this as a signal. I'd also say the lower volume the last two days has me curious if they count as much as normal.

We could still then go down and test yesterday's closing price or even that trend line FJ drew, but I still think we'd go up a substantial ways IF that happens.

All that said, I still feel bearish. I still think we'll have a recession and that all of the poor economic decisions, both Federal level and personal decisions for many Americans, will come home to roost. I'm just trying to make sure I let price action guide me as much as possible.

$30,000 Millionaire said:

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The low volume gave me great pause. I don't know what it means.

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If volume is not primarily driving the price changes, then what could be doing it?

Is the price also driven by the number of people just holding onto their shares?

Typically the more volume in a move, up or down, the more participants you have actively buying or selling, so the more it "counts". Think about bear flags or bull flags - lower volume price movement counter to the primary price trend. Even though these do represent price movement due to more buying or more selling, they are simply a regular occurrence of digestion of the price change and don't don't tend to signal a reversal or change in direction like they would if they had relatively large volume.

Sloppy day. Probably a day I should have not even traded. I'm changing careers so I had constant visitors to my classroom wanting to say bye and stuff. Also went against the trend trying to find the 10am reversal we've seen so often.

Could have been better though. Hit a great trade shorting right before power hour but once again got interrupted and wasn't able to exit on the big red bar down.

Biggest thing is, it could have been a lot worse. I'm still green on the week. Probably won't trade at all tomorrow.




Don't know why pic is blocked, -4.2%

You don't know, but I would tell you that a small dip in the close is pretty normal price action. If you're sized appropriately with enough time left, let them ride.