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S&P500 trading

  • #521
  • Feb 25, 2020 6:33am Feb 25, 2020 6:33am
Quoting sponge
I think a close over 3266/71 now would see some renewed interest by the bulls, my sb charts show a gap at 3280 so a possible gap close in play, 3292 upside target and continued upside over this level imo, 3331 still stiff resistance but 3371/3437 are next upside targets Key level still 3266 for me, looking for support 3224/3200 if it goes, bearish below target 3160 my 2p
Ditto
All charts/ideas based on UK time zone
  • #522
  • Feb 25, 2020 7:14am Feb 25, 2020 7:14am
#NASDAQ / Weekly & H4
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  • #523
  • Feb 26, 2020 10:02am Feb 26, 2020 10:02am
Quoting sponge
I think a close over 3266/71 now would see some renewed interest by the bulls, my sb charts show a gap at 3280 so a possible gap close in play, 3292 upside target and continued upside over this level imo, 3331 still stiff resistance but 3371/3437 are next upside targets Key level still 3266 for me, looking for support 3224/3200 if it goes, bearish below target 3160 my 2p
S&P holding 3160 could see us back on the uptrend, Dow 27423 ... more bear below imo

Virus news could skew
All charts/ideas based on UK time zone
  • #524
  • Mar 7, 2020 8:49am Mar 7, 2020 8:49am
Quoting sponge
{quote} S&P holding 3160 could see us back on the uptrend, Dow 27423 ... more bear below imo Virus news could skew
Looks like the 2,700 area is next. Infection rates and deaths from COVID-19 are staying on the uptick.
Be humble or be humbled.
  • #525
  • Mar 7, 2020 1:50pm Mar 7, 2020 1:50pm
Quoting Temujin
{quote} Looks like the 2,700 area is next. Infection rates and deaths from COVID-19 are staying on the uptick.
Yes corona is a big risk but the media may be blowing this out of proportion, time will tell.

Sticking with my news-less analysis I think s&p 2989 / dow 25804 are possible recovery levels, slightly below atm so looking for a rise on Monday....hmmm
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All charts/ideas based on UK time zone
  • #526
  • Edited 5:22pm Mar 7, 2020 3:33pm | Edited 5:22pm
Quoting sponge
{quote} Yes corona is a big risk but the media may be blowing this out of proportion, time will tell. Sticking with my news-less analysis I think s&p 2989 / dow 25804 are possible recovery levels, slightly below atm so looking for a rise on Monday....hmmm {image}
Dow “currently” 480 points down so far on weekend trading.

i think many people are tripping, imo, she’s going sub 20k & soon.... even the feds “interest raise talk” got sold into at a rate of knots.

last one out turn the light off !!
Que Sera
  • #527
  • Mar 7, 2020 5:28pm Mar 7, 2020 5:28pm
Quoting Catempire
{quote} Dow “currently” 480 points down so far on weekend trading. i think many people are tripping, imo, she’s going sub 20k & soon.... even the feds “interest raise talk” got sold into at a rate of knots. last one out turn the light off !!
23100 is the next target on Dow, which, I expect will / could be hit this week. I’m waiting for an open below 25250 to set that fresh target.

Agree with Temujin 2700 next port of call for SPX, waiting on an open sub 2900.

once these levels come & hold & break.........

The following round will be the most fun
Que Sera
  • #528
  • Mar 7, 2020 6:03pm Mar 7, 2020 6:03pm
Based on this chart & trend dating back to 2008, which aided me to catch the top @ 3394.6

circa 2550 will be a decent support level, that I expect to get tested fairly soon.

I am & have been well and truly baffled by the stance of so many regarding the current state of the economy, the fed have for a long time, been in complete control of the scenario but their ability cannot control a scenario like the one developing.

it will have far reaching consequences, starting with the supply chain and eventually effecting almost every industry around. Anyone doubting the severity of the situation go and get actual expert opinions on how deadly and hectic this shit is.

And above all... look at China’s reaction, the writing is clearly on the wall,

Peoples “needs” will change, less inclined to be frivolous with money, travel, hospitality sector will decline, work forces will be ill, companies will be “forced” to pay sick pay of which they can’t always afford, business will go under, people will have less money, oil price will decline, work forces will be laid off.........

And what is the outcome of all of this ??

we enter a recession & peoples values really will change.

wether that happens overnight ie: 1-3 months may be unlikely & remains to be seen but the ramifications of this developing situation are far beyond what anybody buying stocks this market has even remotely thought of.

On the bright side, gold will keep rallying & we’ll make fortunes shorting the beast’s’

But ffs “open your eyes” people or you will miss it !

its time.
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Que Sera
  • #529
  • Mar 7, 2020 6:20pm Mar 7, 2020 6:20pm
https://www.bbc.com/news/world-middle-east-51787238

BREAKING:

”Italy is set to lock down at least 10 million people in the region of Lombardy , with similar measures in 11 provinces in the north and the east.
The mandatory quarantine will last until early April.
The dramatic escalation in the country's efforts to contain the new deadly coronavirus will close gyms, pools, museums and ski resorts.
Italy is Europe's worst hit-country and reported a steep rise in virus infections on Saturday.
The new measures, which also apply to financial centre Milan and tourist hotspot Venice, could take effect as early as Sunday and will last until 3 April.
The death toll in Italy has passed 230, with officials reporting more than 50 deaths in 24 hours. The number of confirmed cases jumped by more than 1,200 to 5,883 on Saturday.”

thats 1/4th of 8th largest economy in the world, but the ramifications are far larger, China is one of Italy’s biggest business associates, their market & tourisum will be hit hard..... annnndddd..... it’s still spreading.

big money needs buyers to sell into but I’d rather they didn’t get away so lightly. I’m all for the common man.

Please rethink: DO YOU REALLY THINK THIS MARKET IS WORTH BUYING ?

disclaimer: not directed at anyone in particular... buyers are off their heads.
Que Sera
  • #530
  • Mar 7, 2020 6:39pm Mar 7, 2020 6:39pm
Quoting Catempire
https://www.bbc.com/news/world-middle-east-51787238 BREAKING: ”Italy is set to lock down at least 10 million people in the region of Lombardy , with similar measures in 11 provinces in the north and the east. The mandatory quarantine will last until early April. The dramatic escalation in the country's efforts to contain the new deadly coronavirus will close gyms, pools, museums and ski resorts. Italy is Europe's worst hit-country and reported a steep rise in virus infections on Saturday. The new measures, which also apply to financial...


I agree Catempire. My day to day has been scalping both directions, but I don't think the selling is done. For long term, I would like to pick up stocks at a much deeper discount especially considering that this virus is only getting started and can definitely get worse first.
Good intraday trading is to sell session highs, and wait for intraday uptrends to fail. Seems to be happening a lot. Great for fading.

Personally, I'm avoiding large crowds. Basically I don't spend money or go anywhere unless I have to!
  • #531
  • Mar 8, 2020 1:31am Mar 8, 2020 1:31am
Quoting Catempire
https://www.bbc.com/news/world-middle-east-51787238 BREAKING: ”Italy is set to lock down at least 10 million people in the region of Lombardy , with similar measures in 11 provinces in the north and the east. The mandatory quarantine will last until early April. The dramatic escalation in the country's efforts to contain the new deadly coronavirus will close gyms, pools, museums and ski resorts. Italy is Europe's worst hit-country and reported a steep rise in virus infections on Saturday. The new measures, which also apply to financial...
Yes adding the news certainly paints a grim picture.
All charts/ideas based on UK time zone
  • #532
  • Mar 8, 2020 1:04pm Mar 8, 2020 1:04pm
I have traded the SPX for years. until last week it was a good trade to sell a vertical put spread that would expire the same day going short the 10 delta and long the next strike ( strikes are 5 dollars wide) You could sell the spread for 30-50 cents on Mon,Wen,Fri as the options in SPX expire 3 times a week.
  • #533
  • Mar 8, 2020 1:52pm Mar 8, 2020 1:52pm
Quoting sponge
{quote} Yes adding the news certainly paints a grim picture.
Premarket oil @ $32 (short term bounce in that imo)

& Dow down 649 points atm. Expecting 23100 minimum this week.

Happy trading for the week mate.
Que Sera
  • #534
  • Mar 8, 2020 2:16pm Mar 8, 2020 2:16pm
Quoting Catempire
{quote} Premarket oil @ $32 (short term bounce in that imo) & Dow down 649 points atm. Expecting 23100 minimum this week. Happy trading for the week mate.
Yes Catempire thanks for the input.

Being the stubborn old git that I am I will wait for the charts to unfold amidst all this hysteria

Good luck
All charts/ideas based on UK time zone
  • #535
  • Mar 8, 2020 2:20pm Mar 8, 2020 2:20pm
Quoting Catempire
{quote} Premarket oil @ $32 (short term bounce in that imo) & Dow down 649 points atm. Expecting 23100 minimum this week. Happy trading for the week mate.
ABC move down on cards on US indices especially DOW, at the very least, catharsis is usually healthy!
Make sure losses are small and profits are bigger!
  • #536
  • Mar 8, 2020 2:31pm Mar 8, 2020 2:31pm
Quoting sponge
{quote} Yes Catempire thanks for the input. Being the stubborn old git that I am I will wait for the charts to unfold amidst all this hysteria Good luck
Fair whatever works eh & Thanks for having me. If I rant to much feel free to tell me to shut it lol.

2be for sure although I think that could be optimistic.

still of the view we could see ATH’s again this year... how, no idea. Gl mate
Que Sera
  • #537
  • Mar 8, 2020 2:33pm Mar 8, 2020 2:33pm
Quoting Catempire
{quote} Premarket oil @ $32 (short term bounce in that imo) & Dow down 649 points atm. Expecting 23100 minimum this week. Happy trading for the week mate.
Yeah, the futures market opening is gonna be UGLY, especially oil. Virus is spreading in Italy like wildfire and killing many. S&P to 2,600
Be humble or be humbled.
  • #538
  • Mar 8, 2020 2:46pm Mar 8, 2020 2:46pm
I have seen times when the news is so bad/good everyone and his dog get in on it ....often they get slaughtered.

Good luck all.
All charts/ideas based on UK time zone
  • #539
  • Mar 8, 2020 7:02pm Mar 8, 2020 7:02pm
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Que Sera
  • #540
  • Mar 9, 2020 2:24am Mar 9, 2020 2:24am
One of the more beautiful starts to a Monday... not really a fan of those damn overnight circuit breakers tho.

ftse now down 8.3%

hope those pesky stubborn bulls are enjoying themselves.
Que Sera
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