Two parts to your question:

1) If it makes it back up through the 200 day ma on the daily chart (2742 at the moment but will be lower by the time if / when we test it as it is sloping downward) yes

2) Do I think it will get through there? Absolutely not.

For the record once again, I'm long stocks (short term) until the market tells me not to be. I never hold stocks long term unless all moving averages are lined up bullishly.

Short term bullish, long term (2 year timeframe) bearish.

This post was edited on 1/6/19 at 7:35 pm

2 ...

Report Post

Posted by CajunTiger92

Member since Dec 2007

2821 posts

Posted on 1/6/19 at 8:19 pm to Hussss

Got it. A lot of technical damage was done, more than I thought would happen. I think we eventually push through. I think something spooked the market that was beyond interest rates and China or any of the reasons mentioned in this thread.

Sure, interest rates and China may have caused the initial decline but the violent move down suggested to me something else is up. After the market sliced through key support levels, it seemed like big players were getting ahead of some news. My thought at the time was that word of the Mueller investigation findings was starting to get out. If that is the case, the news isn’t good given the market reaction.

1 ...

Report Post

Posted by LSURussian

Member since Feb 2005

126966 posts

Posted on 1/6/19 at 8:37 pm to Hussss

quote:
1) If it makes it back up through the 200 day ma on the daily chart (2742 at the moment but will be lower by the time if / when we test it as it is sloping downward) yes

2) Do I think it will get through there? Absolutely not.

So you’re predicting the market will go up if it goes up? But if the market doesn’t go up you’re predicting it won’t go up?

Well, that’s helpful. Thanks.