Posted by DigiNomad on 19th of Apr 2024 at 12:22 pm
Traders are not going to want to go home with any long exposure
with a potential nuclear retaliation cycle actively playing out.
I'm hearing that Israel is not saying anything about being done
yet. It's sometimes their style to keep tight lipped even when they
are done. I suppose it leaves enemies guessing...which can be good
unless the enemy has a credible pre emptive capability.
Posted by DigiNomad on 19th of Apr 2024 at 12:10 pm
I've decided that they are less relevant but they still mark
meaningful levels on my 23 / 5 charts because they are typically
characterized by higher volume and larger price movements.
I've seen too many upside and downside targets achieved and
gaps filled overnight (along with the corresponding price action
that was expected) to think otherwise, but there's always going to
be some disagreement on this point.
Posted by elementsix on 19th of Apr 2024 at 12:04 pm
Gaps - You bring up a good point Digi...
Love to hear Matt and Steve chime in.
Per traditional thinking, the gap holds because the market
closed at 4pm and opened at 9:30, which is the lions share of
volume. But it's hard to ignore that gut wrenching dive we took
overnight. With 23/5 trading, gaps should be nearly non-existent,
except for weekends. (e.g. crypto doesn't experience gaps in the
same way).
Posted by DigiNomad on 19th of Apr 2024 at 11:55 am
Definitely filled on my end. I was trading it actively when it
happened. I'll never get why people ignore so much price
action on an instrument that trades 23 / 5...but to each his own.
And what's this "cash" thing when referring to SPX? Is
there some way to buy SPX shares that I'm not aware of? I'm pretty
sure it's only options, all the time, no matter if it's RTH, ATH or
GTH.
QQQ Daily
Posted by steve on 19th of Apr 2024 at 12:46 pm
_QQQ - Chart Link - RSI 30
RSI 30 tagged on both
Posted by steve on 19th of Apr 2024 at 12:46 pm
RSI 30 tagged on both ES and NQ
what a drop, wish I
Short ARM Updated View
Posted by foody518 on 19th of Apr 2024 at 12:24 pm
what a drop, wish I had taken that one
Yep, that has happened a
Traders are not going to want to go home with ...
Posted by DigiNomad on 19th of Apr 2024 at 12:24 pm
Yep, that has happened a lot in the past.
CRWD I got out at
CRWD - topping, or flagging? Was looking at various names ...
Posted by foody518 on 19th of Apr 2024 at 12:24 pm
CRWD I got out at the gap fill but it's kept on being weak. A lot of cybersecurity names had a nice run-up and have been rolling over.
might mean a big gap
Traders are not going to want to go home with ...
Posted by marcomr on 19th of Apr 2024 at 12:23 pm
might mean a big gap up on Monday if nothing bad happens over the weekend
Short ARM Updated View
Posted by steve on 19th of Apr 2024 at 12:23 pm
ARM - Chart Link - bearish EW triangle
Traders are not going to
Posted by DigiNomad on 19th of Apr 2024 at 12:22 pm
Traders are not going to want to go home with any long exposure with a potential nuclear retaliation cycle actively playing out. I'm hearing that Israel is not saying anything about being done yet. It's sometimes their style to keep tight lipped even when they are done. I suppose it leaves enemies guessing...which can be good unless the enemy has a credible pre emptive capability.
SOX Updated
Posted by steve on 19th of Apr 2024 at 12:17 pm
$SOX - Chart Link
Negative gamma kicking in now.
Posted by DigiNomad on 19th of Apr 2024 at 12:16 pm
Negative gamma kicking in now. 4980 is the second biggest level for OPEX (5K had the most going into today) .
Note that we're only just under session VWAP because of all the price action overnight. The lower band (1 sigma) is at 4963.
NQ - nasty
Posted by steve on 19th of Apr 2024 at 12:14 pm
NQ - nasty
cvna bear flag possibly? gap
Posted by kingpin15 on 19th of Apr 2024 at 12:13 pm
cvna bear flag possibly? gap looms below? used car mrkt is declining and they are burning cash.
SO weekly, nice look
Posted by foody518 on 19th of Apr 2024 at 12:13 pm
SO weekly, nice look
SPX 120
Posted by steve on 19th of Apr 2024 at 12:11 pm
$SPX - Chart Link - Gap filled
Next ES support zones 5013/08 then 4997/92
I've decided that they are
Gap? Did we get low enough to fill it a ...
Posted by DigiNomad on 19th of Apr 2024 at 12:10 pm
I've decided that they are less relevant but they still mark meaningful levels on my 23 / 5 charts because they are typically characterized by higher volume and larger price movements. I've seen too many upside and downside targets achieved and gaps filled overnight (along with the corresponding price action that was expected) to think otherwise, but there's always going to be some disagreement on this point.
Gaps - You bring up
Gap? Did we get low enough to fill it a ...
Posted by elementsix on 19th of Apr 2024 at 12:04 pm
Gaps - You bring up a good point Digi...
Love to hear Matt and Steve chime in.
Per traditional thinking, the gap holds because the market closed at 4pm and opened at 9:30, which is the lions share of volume. But it's hard to ignore that gut wrenching dive we took overnight. With 23/5 trading, gaps should be nearly non-existent, except for weekends. (e.g. crypto doesn't experience gaps in the same way).
Are gaps becoming less relevant now?
My darn Boeing sundial doesn't
Matt's out shopping for the new Boeing Car
Posted by brophy on 19th of Apr 2024 at 11:58 am
My darn Boeing sundial doesn't work at all at night.
Definitely filled on my end.
Gap? Did we get low enough to fill it a ...
Posted by DigiNomad on 19th of Apr 2024 at 11:55 am
Definitely filled on my end. I was trading it actively when it happened. I'll never get why people ignore so much price action on an instrument that trades 23 / 5...but to each his own.
And what's this "cash" thing when referring to SPX? Is there some way to buy SPX shares that I'm not aware of? I'm pretty sure it's only options, all the time, no matter if it's RTH, ATH or GTH.
Gap? Did we get low enough to fill it a ...
Posted by kingpin15 on 19th of Apr 2024 at 11:51 am
Gap? Did we get low
Posted by lamb on 19th of Apr 2024 at 11:48 am
Gap? Did we get low enough to fill it a 4988?