The Dow fell hard yesterday, shedding 457 points to 23,765. The decline moved the Market Timing Indicator for the Dow to a Sell Signal. The same timing indicator on the NASDAQ remains Positive. So, it’s still not clear if Major Wave C down has started. There’s a possibility that yesterday’s decline was part of sub-wave c down of wave 2 down within the final 5 wave sequence of Major Wave B up. If this is the case, wave 2 down could fall to the 23,400 level before it completes and wave 3 up begins. The 23,400 level on the Dow is shaping up as a key support level as is also the neckline of a Head & Shoulders Pattern that started back in mid-April. If this neckline is broken, it will likely mean that Major Wave C down is underway. If 23,400 continues to hold, the Bullish scenario for the Dow to push toward 25,000 remains in place. Gold (GLD) rose 0.62 cents yesterday to 160.04. However, it failed to break out of the sideways triangle pattern it has been forming for the last 20 trading days. Once GLD moves above 162, a significant rally should begin as suggested by the narrowing Bollinger Bands. h
Alright, doing my first option this morning. Was going to do 3 Penn 6/19 $25 Call for 0.35. I have been studying options but thought I would ask if there was anything I should be aware of since it was my first one. Appreciate any and all advice.
Not those exact numbers, I just wanted to make sure I had the theory right, but for a minute yesterday GRUB had that opportunity
Sounds like the Mcdonald's Monopoly game where 99.9% of people get garbage stocks and .1% get a FAANG stock or something equivalent.
Divergences on DXD and QID are really standing out. DXD crossed the 1hr threshold and QID is about too. We should see a lot of blood today. Good top line support.
Start at 1hr - last week into this week it built on DXD QID you have to go back further 3 or 4 weeks but the new top that is forming is higher while the prices are lower. DXD it is more apparent. Got in big yesterday at 1:30 when the 15 min crossed on the TSI on DXD and SDOW. Closed SDOW at the close because i am not holding a 3x overnight. Reaping rewards right now. Once the 1hr crosses though it usually takes a few days for the tide to turn back.
Twitter pumpers going wild again. Teased all morning and tweeted FWP at 9:42am. It jumped from $7.42 to $8.30 to $9.36 in about 4 minutes then got halted. Just reopened at $12.10 and I believe it’s now halted again.
I see that. It seems yesterday and today's drop are the were corrections relating to that divergence, which has since gone away. After the divergence starts correcting, how long do you continue to buy in?
QID narrowing on 1m with top line support on the 15. 1hr is close. Could get a good little pop and if that happens the 1hr shoudl cross which will trigger a good run. Ifs and Buts, but that is what i am seeing in the TSI, DI and VZO.
1. anyone that gives a shit about stonks already knows this 2. lol @ calling anyone "rich guys" from his ivory penthouse(s) 3. his indebted followers acting like the price of TSLA affects them in the least
ACB bros, I'm finally giving up on these fucks. The reverse split and drop is too much.Total return of about -86% on my first ever stonk purchase.
I don’t have ACB but the pot stock I’ve referenced in here before is down a solid 91% for me. Shitty ass weed. Should’ve invested in cocaine instead.
I made a lot around this time last year and stupidly bought back in on what i thought was a dip so i lost it all back plus some by the end of last year. I am glad i did not continue to ride that dead horse.
I've been eyeballing Spirit for a while, under the thesis that they have a bunch of cash to avoid bankruptcy for a long while and could recover more quickly because they are low-cost domestic. But I don't have the stomach to buy today and be down 15% tomorrow, like it is today.
Strong positive divergence forming with DIS on the 5 min. chart. I'm a little too bearish on Disney and the overall market to jump in right now. May wait a while and see if a swing trade sets up
I am not buying DIS. This market is going south and DIS will follow it to the bottom. Also, I have not looked at the short term tech but that QID and DXD tech has paid well so far. Need to check to see if it is get out time. Long term techs are showing this dive continuing but there may be a bounce or two.
Trump is going to go on the war path if he hasn't already, i don't follow him. I bet he is trying to fire everyone at the fed right now.
What do you mean "top line?" I agree it's risky -- but mainly because the company's fundamentals are garbage and the broader market has a lot of downward pressure.
If you are buying on the 1m or 2m it is safer when you have coverage on the 15m or longer. Less likely to get burnt with a peak bove the TSI and then big drop. Hank says 95% win when there is a top line coverage. odds go down the further under the TSI the longer term bars are. Learned that yesterday on a watch Hank trade session.
We broke the shoulder so yeah this is the dip he was predicting. I need to go back and re-read the prediction on how far or if he called for a rebound but I am very very invested in DXD and QID right now.
Short term technicals are showing a slight slowdown with some negative divergence. But i don't know what that means for the future right now and SPY puts or calls.
If you are scalping 1m bar says take the profits on QID and DXD now. I am staying in and making this a longer term play.
i just wonder if the market finally woke up to what is actually happening in the country. we've heard for the last two months that bear markets always have the best/craziest rallies. the nasdaq being up for the year would certainly qualify for that