Posted by DigiNomad on 29th of Oct 2023 at 11:48 pm
SPX - up .40% so far (4134). For the bulls, this is NOT
ideal. I can't remember ever seeing a large down move end with a
pre market bounce. Typically it is a great opportunity to fade /
short. I have seen some reversal days on an opening pop, then fade
into negative territory for a final washout before reversing to
close near even or positive. If the market fades to red
overnight, and opens in the red, we'd have a better shot at a
reversal day.
Posted by focus175 on 30th of Oct 2023 at 03:54 am
What about June 21, 2022, as an example of in a downtrend? While
don't seem to happen as often, gap ups after bearish engulfing
candles do happen at times. I agree though, better a red to green
move.
Posted by DigiNomad on 30th of Oct 2023 at 09:33 am
June 21, 22 was just a standard check back to the 20 MA. Could
we get one of those with a green open in a downtrending market?
Absolutely. What I'm referring to is a bounce that may lead to a
trend change.
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SPX - up .40% so
Posted by DigiNomad on 29th of Oct 2023 at 11:48 pm
SPX - up .40% so far (4134). For the bulls, this is NOT ideal. I can't remember ever seeing a large down move end with a pre market bounce. Typically it is a great opportunity to fade / short. I have seen some reversal days on an opening pop, then fade into negative territory for a final washout before reversing to close near even or positive. If the market fades to red overnight, and opens in the red, we'd have a better shot at a reversal day.
What about June 21, 2022,
Posted by focus175 on 30th of Oct 2023 at 03:54 am
What about June 21, 2022, as an example of in a downtrend? While don't seem to happen as often, gap ups after bearish engulfing candles do happen at times. I agree though, better a red to green move.
June 21, 22 was just
Posted by DigiNomad on 30th of Oct 2023 at 09:33 am
June 21, 22 was just a standard check back to the 20 MA. Could we get one of those with a green open in a downtrending market? Absolutely. What I'm referring to is a bounce that may lead to a trend change.