It's possible. On a SP daily chart but it still looks like it will close below the 200DMA unless we get big rally in the last hour which could be another positive sign if it did happen. IMO, the quicker it retakes the 200DMA the better... if it is a bottom be it short term or longer term.
Isn't there a saying.....that TA matters because other people think TA matters. :)
I think it's probably used more now than when I started, especially with algorithms. I think it and things like candlesticks etc.. can give some insight into market psychology, exhaustion etc...
Brought a little but most of the stocks aren’t positive yet so can still be a head fake. HOwever, some of them are attractive.
Earnings will be important, but the biggest event is Wed and Powell's press conference. With all the turmoil and markets jumping to worst case scenario conclusions, will Powell walk back some of his hawkishness? Huge bounce if this happens.
I think waiting on earnings is prudent even though I didn't lol. I've said before I consider myself a strategic knife catcher. But it's always in high quality names so if I'm early I'm okay averaging down and they often eventually come around.
Today felt like capitulation where everyone sold who was nervous about the markets sold. Then in the afternoon the market scratched and clawed its way to positive territory. I agree with you that Powells talk is going to be very important as to the near term direction of this market. I suspect you are right and he will temper his remarks surrounding tightening. I think the market is ready to rally anyway but powells remarks are going to be key, then what earnings look like could either be a catalyst for further gains or may be the nail in the coffin. stay tuned!
Interesting play with PLTR! You spec trader. :)
I have a feeling the turbulence will continue for the next few weeks unless earnings and the Fed can settle things down, and geopolitical risks disappear.
IBM giving up some gains in the after hours. Sounds like guidance not great.IBM pops after earnings report:
IBM shares jump after company reports 6% revenue growth in fourth quarter
IBM's revenue growth accelerated, and the company's net income jumped in the quarter after the spinout of a major part of its business.www.cnbc.com
What happens if Russia invade Ukraine? and if the US got more involved? Maybe the market goes down another 10-20%.
That would likely cause a mini-crash, although it may also serve as a bottom. Geopolitical events are where I’ve always made the most money.
I’m down in a few positions from recent dip buying. Up about 15% on todays purchases but doesn’t mean anything until I ring the register. I don’t trust this market in the short-term. But I’m still nibbling.
If it goes down another 10%, I'm going all in with TQQQ.Tough call…Interested in seeing where we end up in 3-4 weeks:
'Double down' on defense because stocks will plunge another 10%, Morgan Stanley's Mike Wilson warns
Morgan Stanley's Mike Wilson, the market's biggest bear, suggests investors are dangerously downplaying a collision between a tightening Fed and slowing growth.
Yeah, I’d have to think about that one only because I seem to recall you own 6 or so out of the top ten TQQQ holdings. So while the 3X is great I don’t know where that puts you from a risk model/perspective if you get caught in a correction. Obviously, largely depends on the size of the investment.
Definitely need to do some research and analysis over the next few weeks. And for perspective, I am only talking about my new account. I have 50% invested in those 6 stocks and 50% left in cash. I came super close to jumping into PYPL close to the low today, but stupid work got in the way and had a long meeting. Missed that window, for now. LOL!
I heard Fox viewers are saying to side with Russia and forget Europe. Let Russia do whatever they want. I wonder why?I was listening to a financial who said high volatility is a sign of sign of big trouble looming. He said a big drop and then a big rebound isn't actually a win right now.
As for geopolitical risks, do we really trust a guy who wrecked Afghanistan on purpose, to go and meddle in Europe with a major military power? US should be focused on China and not Ukraine. That is probably not be an accident considering China owns DC. Global denizens always saw US as block to their aspirations and now we see an intentional push to break everything from borders, to military, to healthcare, to law enforcement to dollar etc. They want the "big crisis" to tip the scales. Europe is a mess but MSM ignores all the protests and violence. Russia moving into Cuba and China moving into South America. NY regime will let them up the Hudson if they can
Putin discusses ‘strategic partnership’ with Cuban leader amid fears of military threat
Following recent threats of a potential military deployment to Cuba earlier this month, Russia’s President Vladimir Putin discussed the “strategic partnership” and further coordination of “actions in the international arena” with Cuban leader Miguel Díaz-Canel in a call disclosed Monday by the...www.stripes.com
I have no idea what you're talking about and neither do you
thehill.com
I’m not an expert on TQQQ but have looked at it a few times recently:
That ETF tracks three times the daily performance of Nasdaq 100. I'd look to SH instead. Lol ...
