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One day the markets will *sense* that the rate of infection is starting to fall, and the numbers from China and Korea might provide some relief. Bizarrely, Italy’s decisive and rather dramatic action might also be interpreted as a positive if the evidence from the Far East shows that quarantine solves or limits the problem. Rather like ‘buy when the first bullet is fired’, so to speak…
The smash in the Oil market (expected Monday) might cause a sharp markdown in Oil stocks initially, but then be interpreted positively because lower oil prices are clearly a benefit to economies.
I would prefer a new Dow low in this sequence.
My dip buy timing could be anytime in Dow cash.
Due to the risk I want a very good entry point
or I will be happy to wait.Never give up, never surrender.
Think your getting your wish for a new sequence low cim.tomorrow wont be forgotten in a while the way its shaping up right now.stay safe.
SPX: in this chart I pointed out that spx stopped at almost exactly the 50% Fib retrace. Today the futures are trading well below that level (currently at 2825).
I suppose it’s reasonable to assume that if cash breaks that 50% it will want to try for the 61.8 down at about 2,750. Not a guarantee or prediction, just a reasonable assumption.
FTSE currently down 6.6% presumably due to oil stocks.
Norway down 8.8%….
Some oil stocks in Australia currently down 15-20%…
DOW: for Dow cash I’m guessing that it might be forming another ‘three down’ perhaps as part of a larger falling wedge thing. The decline from 27,100 doesn’t look like a five to my eye.
If so, we should get a ‘c’ wave down which can be 0.618 at about 24,825 or c=a in the 24,100 area. Futures have already bust through the first target, but of course cash might do something different.
Correction: futures got as low as 24,220, and as cash usually tries to print the futures at some point, this suggests the lower target has a high probability.
Dow futures 24550 floor being held by some providers.
Spx 2818
Nas 8088
Curious
Never give up, never surrender.
Dow futures 24550 floor being held by some providers. Spx 2818 Nas 8088 Curious
It’s because the futures get frozen limit down 5%. Not allowed to trade again until cash opens. Hence the flat line.
Never seen limit down happen in the futures before,i think after the inevitable rth bloodbath,we print at least a short term low today..ive got 2740ish as stern support..right near your 2750 hatman..should it get really ugly
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