James48843
Well-known member
The bear market is back.
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Yeah, those "h" formations have become double bottoms in the past in this bull market so this is a test.
Maybe James is right. The bear is certainly poking its head into the indicators right now. The red line below must hold!
Yesterday I though the reversal started a little early and that caused the rally to run out of steam late.
Today we just hit new lows and there's about 90 minutes left in the day. I don't know if it will happen, but it's not too early today for the bulls to try another reversal that might stick.
Nope... new lows instead. They have an hour to make a move but I would rather not have seen new intraday lows. Financials too.
My bear market indicators are flashing but it's a weekly reading that could change before the week is up. But if we closed at the end of the here, I'd say it's a bear and we need to become sellers of rallies or at least take a different approach. But it's not official yet.
wavecoder
Active member
Microsoft had a huge earnings beat, and is still down. Not sure what exactly happened with AMD's report but it couldn't have been good. -25% holy cow. I think at this rate the market doesn't care about earnings beats, it wants to go down.
Tesla is looking good AH but I don't know how long that's gonna last.
Tesla is looking good AH but I don't know how long that's gonna last.
weatherweenie
Well-known member
Nordic
Member
Possible support near 2625. The red vertical line was the point loss in February, so this correction hasn't quite reached that level of decline.
Damn 1100 CT cutoff.
Never know what's going to happen intraday, but we are getting ever so close to that 2625-2600 level.
It's amazing that Amazon, which beat on earnings estimates handily, can impact the market like this.
They reported earnings per share of $5.75 vs estimates of $3.14.
But revenue fell just short at $56.6 billion vs. estimates of $57.07 billion. :dunno:
Is that a reason to take the entire market down 2-3% today? :crazy:
I guess they guided lower too which is the main concern.
With the Fed no longer helping markets but instead tightening and unwinding their QE, there is now a headwind that companies may be feeling now. Add the tariff uncertainty and and bond yields rising and perhaps a repricing is reasonable after the parabolic 2017 we had.
Did you know that from 2003 to 2017 (and through yesterday in 2018) the S&P 500 only had one negative year? 2008 was down about 37%. So it looks like when they adjust prices, they really adjust.
They reported earnings per share of $5.75 vs estimates of $3.14.
But revenue fell just short at $56.6 billion vs. estimates of $57.07 billion. :dunno:
Is that a reason to take the entire market down 2-3% today? :crazy:
I guess they guided lower too which is the main concern.
With the Fed no longer helping markets but instead tightening and unwinding their QE, there is now a headwind that companies may be feeling now. Add the tariff uncertainty and and bond yields rising and perhaps a repricing is reasonable after the parabolic 2017 we had.
Did you know that from 2003 to 2017 (and through yesterday in 2018) the S&P 500 only had one negative year? 2008 was down about 37%. So it looks like when they adjust prices, they really adjust.
I hope this reversal didn't start too early again. At this pace we'd need to see big gains by the close or the momentum will be stopping and the bears will have some red meat. Closing flat won't cut it because that means momentum from this early reversal will be stopped.
How's that for analysis? It's either going to be up big, hit the flat line, or rollover. Any questions?
How's that for analysis? It's either going to be up big, hit the flat line, or rollover. Any questions?
userque
Well-known member
My predictions are always 100% right. It could go up or it could go down
[The next day]
I told you it could go up ... and it did!
GOOG, which was down sharply at the open, actually went positive... but just backed off the high again.
https://finance.yahoo.com/quote/GOOG?p=GOOG&.tsrc=fin-srch
https://finance.yahoo.com/quote/GOOG?p=GOOG&.tsrc=fin-srch
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