Long ways to go to confirm any type of bottom - IWM strongest
would need 205 for starters (thus far just a normal wave 4 in
the 198-202 range) Biggest risk is still probably
complacency
Posted by retirefire on 25th of Jan 2022 at 08:47 am
Steve mentioned a 200 point move Possibility for a wave 4 up.
Yesterday's move was 190 off the low. I know we follow price but is
this cautionary as a new low ... or just too much conjecture?
Just trade what's in front of you - mapping this is extremely
subjective. Many should simply curtail or refrain from
trading without a clear cut low risk setup
If that's not enough, you also have the Russia/Ukraine situation
in the backdrop
Make no mistake, the key driver of the market of late is the FED
having moved to fight inflation into a SLOWING ECONOMY
Trader Comments
In the same way that some older investors struggled with the
notion of a “fiscal put” in March 2020, they’re struggling with the
fact that we’re still going to get rate hikes even with stocks
being down. Gotta be careful with the pre-2020 markets/Fed playbook
now.
what I don't know is
SPX 30 min
Posted by matt on 24th of Jan 2022 at 02:13 pm
what I don't know is if this is a wave 4 or not needing a 5. Waiting for Steve to chime in with an opinion - so far there's only 3 waves up
Long ways to go to
Posted by steve on 24th of Jan 2022 at 02:36 pm
Long ways to go to confirm any type of bottom - IWM strongest would need 205 for starters (thus far just a normal wave 4 in the 198-202 range) Biggest risk is still probably complacency
Steve mentioned a 200 point
Posted by retirefire on 25th of Jan 2022 at 08:47 am
Steve mentioned a 200 point move Possibility for a wave 4 up. Yesterday's move was 190 off the low. I know we follow price but is this cautionary as a new low ... or just too much conjecture?
Just trade what's in front
Posted by steve on 25th of Jan 2022 at 08:56 am
Just trade what's in front of you - mapping this is extremely subjective. Many should simply curtail or refrain from trading without a clear cut low risk setup
If that's not enough, you
Posted by steve on 25th of Jan 2022 at 09:01 am
If that's not enough, you also have the Russia/Ukraine situation in the backdrop
Make no mistake, the key driver of the market of late is the FED having moved to fight inflation into a SLOWING ECONOMY
Trader Comments
In the same way that some older investors struggled with the notion of a “fiscal put” in March 2020, they’re struggling with the fact that we’re still going to get rate hikes even with stocks being down. Gotta be careful with the pre-2020 markets/Fed playbook now.
thanks for the info Steve
Posted by matt on 24th of Jan 2022 at 02:37 pm
thanks for the info Steve