Still battling here, but certainly does seem like bears in control
agree, today's model t is 312.2. All kinds of fighting there.irish pete ag06 said:
Still battling here, but certainly does seem like bears in control
100%. I used to enjoy video games as a kid. TA is way better!!!!Irish 2.0 said:
I do so love me some technical analysis...
you really like to repeat yourself don't you? I think one time in a couple hours is plenty to get your message across.LMCane said:
so the market is just going to blithely ignore 1) a literal recession entered into yesterday concurrent with 2) the highest inflation in 41 years now?
Inflation figure that the Fed follows closely hits highest level since January 1982
FRI, JUL 29 20228:36 AM EDTUPDATED 27 MIN AGO
The personal consumption expenditures price index rose 6.8% in June, the biggest 12-month move since the 6.9% increase in January 1982.
Excluding food and energy, so-called core PCE increased 4.8% from a year ago, up one-tenth of a percentage point from May.
The employment cost index, another figure Fed policymakers follow closely, rose 1.3% in the second quarter.
The index climbed 5.1% on a 12-month basis, a record for data series that goes back to 2002.
I bought 0722p313 after my sqq for 1.42. Out of my puts, 3@2.42 and 2@2.12. Made some eat out money. It's taking a breather and it may go retake the high. better take profits while I can. I am using the hourly 5 ema as my sqqq stop loss 312.65. I was in at 313.87.Txducker said:
bounced perfectly off the daily 100 sma at 311.95. Next level to clear. 61.8 fib is at 311.66. qqq
stopped out of my sqqq for a profit. . max profit was around qqq 310.96 (about 75% fib level) on today high to the 10:30 low. I think the 61.8 fib of 313.12 or the hourly 10 ema 312.94 would have been better stops for a retest to the downside or areas to look for retry to the downside if those levels hold. If not, then go to retest today's high again. First test of 61.8 fib rejected. My mistake was not taking sqqq profits at the 75% fib like I did with my puts.Txducker said:I bought 0722p313 after my sqq for 1.42. Out of my puts, 3@2.42 and 2@2.12. Made some eat out money. It's taking a breather and it may go retake the high. better take profits while I can. I am using the hourly 5 ema as my sqqq stop loss 312.65. I was in at 313.87.Txducker said:
bounced perfectly off the daily 100 sma at 311.95. Next level to clear. 61.8 fib is at 311.66. qqq
FIFYTxducker said:100%. I used to enjoy video games as a kid. T & A is way better!!!!Irish 2.0 said:
I do so love me some technical analysis...
$30,000 Millionaire said:
Made some money shorting. We are probably going to 4140 today on SPX.
SPY on deck for a potential double top as well hereIrish 2.0 said:
QQQ coming into an area for a potential triple top.
5/6 - 315.09
6/2 - 314.56
Txducker said:
qqq bulls have had an impressive recovery today. July has officially beat the June high. It will be interesting to see what this means going forward.
Farmer @ Johnsongrass, TX said:
In honor of ProgN
Rally ass edition for the bag holder investments I hold.
Oh, it's there, 32 second mark if you don't have time for the entire video.
Yeah, yeah,...I know,...2/10 WNB,...yeah, whatever..
In hindsight, I think it was a hammergig em 02 said:BaylorSpineGuy said:
Yes very true! SPY also put up a hanging man type candle after a gap up. Again, wait for confirmation but this could be a means to retest recent lows.
Plus, coupling this knowledge with Cramer ringing the bell, look out below!
You sure that's not a hammer?
Diggity said:you really like to repeat yourself don't you? I think one time in a couple hours is plenty to get your message across.LMCane said:
so the market is just going to blithely ignore 1) a literal recession entered into yesterday concurrent with 2) the highest inflation in 41 years now?
Inflation figure that the Fed follows closely hits highest level since January 1982
FRI, JUL 29 20228:36 AM EDTUPDATED 27 MIN AGO
The personal consumption expenditures price index rose 6.8% in June, the biggest 12-month move since the 6.9% increase in January 1982.
Excluding food and energy, so-called core PCE increased 4.8% from a year ago, up one-tenth of a percentage point from May.
The employment cost index, another figure Fed policymakers follow closely, rose 1.3% in the second quarter.
The index climbed 5.1% on a 12-month basis, a record for data series that goes back to 2002.
Yep$30,000 Millionaire said:
Made some money shorting. We are probably going to 4140 today on SPX.
I was and dumbly got out 3 days agoPhilip J Fry said:
So PED is doing what I thought it was going to do. I'm up 13% this past week. Am I the only one in on this stock? Todays candle is crossing the 50ema for the 6 month. Best I can tell, every time it does this, it makes it to 1.75.
I see it as a rally also. qqq made a higher high on the weekly and monthly chart. March is the only other month this year that finished the month higher than the previous month. April said "who cares" and then sold off setting new lows. Lots of evidence for bad economy and more pain coming in the fall, however the market is not ready to price that in for the whole market. I don't know what to think big picture, long term for the market so I am just playing weekly and intraday trends. Monday starts a new week and month, so a new trend can start. I just don't feel good about picking a direction. I will be long biased because it is the current trend.Bob Knights Liver said:Txducker said:
qqq bulls have had an impressive recovery today. July has officially beat the June high. It will be interesting to see what this means going forward.
I think there can be no other answer than we are in a rally until we aren't, right? I expect consolidation and I have no clue if this rally will last and lead us into a sustained bull market, but we've made it through FOMC and earnings, prices are well above the 50-ema, and almost all momentum indicators point to up.
I don't know how and I still feel bearish, but the price answered all of our questions at least for now, didn't it?
I'm asking here. I did not intend any snark or to be argumentative with this post.
We'll see what happens if it actually breaks through the 50ema for the day. Still might have a small window of opportunity.bmoochie said:I was and dumbly got out 3 days agoPhilip J Fry said:
So PED is doing what I thought it was going to do. I'm up 13% this past week. Am I the only one in on this stock? Todays candle is crossing the 50ema for the 6 month. Best I can tell, every time it does this, it makes it to 1.75.
💥EQUITY FUND SPECS INCREASE #SP500 NET SHORT POSITION TO 90K+ CONTRACTS
— JE$US (@WallStJesus) July 29, 2022
How did you know this?$30,000 Millionaire said:Yep$30,000 Millionaire said:
Made some money shorting. We are probably going to 4140 today on SPX.