Was this one of those “rip your face off” bear market rallies you sometimes refer to?  I guess so, best day since 1933!  

The question remains, “Will you still love me tomorrow?” It ended right on the last high. I’m equally hedged both ways, and will not be surprised if the market drifts back down to -3100 then rallies when Congress finally seals the deal. That is, unless this is a “ buy the rumor, sell the news” sort of deal.  

Thanks again to you and Steve, I made over 5k today, and almost doubled my play money since this drop started!

SPX version. We will see!

Re-tagged the underside of the 9   I think momentum is still down. 

Matt and Steve, you guys are national treasures. Thanks for your transparency with such swiftly changing conditions. It has helped a lot of us to actually make money instead of just losing our ass during this nightmare. 

Brilliant!

Sounds like a good time to buy the paper!

Any credit for closing today above yesterday’s close, with a long legged doji?

Amazing! That took timing and  guts.  Congrats!

Closest thing I’ve seen to a hammer in a while!

Someone else may have already said this, but 2346 is the 61.8% fib level for the S&P 2016-2019. That may be significant tomorrow.

Buying call options at the close of the market today is like betting that the Republicans and Democrats will work out a deal overnight and sign it before the market opens tomorrow morning. I saw the same thing yesterday afternoon and bought 3/13 TQQQ puts overnight to protect my calls. They went up 500% and I sold.  I did the same today before the close. The way I look at it, I have $2000 to lose or $10,000 to gain. I’ll bet on gridlock overnight!  They may solve the problem tomorrow so they can go home, but if they solve it sooner, my calls will go up, and I only lose $2000 on the puts. Not recommending or bragging, just saying the risk/reward looked good enough for me to take a little stake and see what happens. In addition, we didn’t have a doji or hammer or buy signal. Wish I had bought more. 

ssafer, are you still feeling the LUV or moved on to another suitor?  I’m still holding, but it feels like it is following the market. Only 33% down. Not bad in this environment. Interested in your take. Doesn’t expire until May. Thanks.

Matt, Like SPY 297  5/15 call for 4.75?

Hope that divergence plays out, Mia!  I don’t have any nails left to bite or hairs to pull out! 

That would make sense. It is also about where the 200 week moving average hits. Thanks!

Love your humor, Mia!  Keeping us all from losing our minds! 

Thx

Thanks, Stevieb, so I see the brown target with low of 2918 met. So , you would now expect another bounce or since that was a lower low, not much of a bounce then head back to new lows? In trying to get the hang of this thing.  I am guessing a bounce to 2975 or less likely 3057?  Thanks again.

And since we already bounced to 2978, that could be all we get?

StevieB294,  third try to respond. Connection is bad. Thanks for the charts and sharing info on the EW system. I watched and enjoyed the video. I get that 3120 was the target achieved. What is wp?  Is 2940 a target achieved?  Thanks!

Are you thinking a LONG squeeze and head back down.  It did just  about get to the 9 SMA  on a 5 day chart, gut I was thinking if it went this far, it would close the gap at 3000.  Thoughts?