Listen up!
I took a closer look at the stock market this past weekend. The market had been trading in a tight range in the last 3 weeks. The SPY had traded between 108 to 112 range. It means that the bulls and the bears are fighting it out. There were some profit takings and shorts got squeezed during that time. Right now the market is consolidating. The market had retraced back up to 50% from the low of March. If the market either breakout and breakdown from the tight range, the move will be huge. Right now the market is in a quiet mode, calm before the big storm.
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Just bought SPXU again at 37.80.
ReplyDeleteI think you meant 36.80 ;)
ReplyDeleteabonmop
BAS, you are correct. It should be 36.80, not 37.80.
ReplyDeleteIn @ 36.64 myself.
ReplyDeletehenem
The SPY and QQQQ will fall back down this afternoon. Don't buy in to this mini rally.
ReplyDeletedo we take when it does?
ReplyDeletesort of fearful of holding over night.. 3 white soldiers, maybe a 4th today on s&p.
think we'll close the gap today on what appears to be weak volume?
dayst
BAS, all I am saying that QQQQ could hit 44.25 today and SPY could hit 111.50 again. There is a small morning gap to be filled today.
ReplyDeleteThe volume is so light today.
ReplyDeleteblah..holding over night..
ReplyDeleteit'll gap up tomorrow.. same ole drill.
maybe we'll get lucky and it won't..but not counting on it. :/
altic
BAS, SPY and SPXU closed where it opened today.
ReplyDeletedamn, must be busy today! 12/15
ReplyDeleteI sold premarket at $37.25. figured they close the gap later on. (take it while you can!)
wasn't sure if they were going to make it today..so got in a little early before gap close..so back in at $36.75.
kind of worried about a rally, but I'll jump ship if we look like we will close over spy 112.00
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