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Blazin

Blazin

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qqq hitting some resistance here but so far consolidating nicely. Watching for the vix to get back below 40. Hate to jinx it but we may finish the day mildly down. LONG way to go but you can see the setup there.
 
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Sanrith Descartes

Sanrith Descartes

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Tmac

Tmac

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QQQ and MSTR are going to be my only green positions for a hot minute, lol
 
Lejina

Lejina

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Canadian stock market is closed because of some holiday, so I don't even get to have the option of a panicked overreaction as my savings evaporate.
 
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Blazin

Blazin

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If this just ends up a flash crash then tens of thousands of people panicking they couldn't log on and sell may find it a blessing.
 
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Gravel

Gravel

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So like I asked, this seems to mostly just be panic for the sake of panic. People freaking out in solidarity with Japan I guess? Had very little to do with our markets whatsoever, but massive drop because reasons.
 
Tmac

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Gravel said:
So like I asked, this seems to mostly just be panic for the sake of panic. People freaking out in solidarity with Japan I guess? Had very little to do with our markets whatsoever, but massive drop because reasons.
Click to expand...

I think some whales had to cover margin calls on their Yen trades.
 
Blazin

Blazin

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Gravel said:
So like I asked, this seems to mostly just be panic for the sake of panic. People freaking out in solidarity with Japan I guess? Had very little to do with our markets whatsoever, but massive drop because reasons.
Click to expand...
No matter the outcome vix spikes tend to look silly a few months down the line. Tons of sky is falling that in hindsight was entirely overblown. Having said that, this morning was a significant event. It's destabilizing and if markets start whipsawing that shows indecision and indecision is what can occur in a waning trend.
 
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Sanrith Descartes

Sanrith Descartes

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MSFT RSI sub 25. This is more oversold than Covid Black Monday. Most oversold it has been in in more than 5 years.
 
Sanrith Descartes

Sanrith Descartes

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I wonder if Iran will time its attack on Israel to coincide with today's market weakness? I know I would.
 
Blazin

Blazin

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This is an example of indecision. This is S&P 500 in 99 -00 and notice how many times it began hitting the 200d . Sharp rallies and rapid declines this marketdly different than during the stronger part of the trend. Market crashes don't come out of no where like bear fairy tales. Just look at these warning signs, one after the other that the ground beneath was destabilizing.

So if we bounce today off the 200d that's a good thing. If we find our selves here repeatedly that is very much not a good sign.
 
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