Today's candlestick pattern (so far) makes it look like we could have a temporary peak in the $$.
Never mind! The dollar did bounce back...
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- Thread starter tsptalk
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Never mind! The dollar did bounce back...
What is it telling us when a stock falls on bad news (coronavirus warning from the company), then recovers the loss the next day?
It tells me that right now nothing matters, not valuations or fundamentals, but just momentum and direction.
Of course in Apple's case earnings may be impacted because of supply restrictions and not demand, and that may be what investors are thinking.
It tells me that right now nothing matters, not valuations or fundamentals, but just momentum and direction.
Of course in Apple's case earnings may be impacted because of supply restrictions and not demand, and that may be what investors are thinking.
Khotso
Active member
The blue gaps are officially filled. New red open gaps are clear.
Aren't there a couple more to go on the S&P500 (3119 Dec 5, and 2948 Oct 10,2019)? Or am I missing something ... too small a gap to be considered a gap?
We got a few gaps and goes in the last couple of years and they do like to get filled eventually but yeah, some are small enough that investors aren't waiting for the to get filled to get back in. Filling them would be nice and neat, and more importantly would likely test the 200-day EMA, but that big overhead gap created today may mean more in the short term.
James48843
Well-known member
Covid-19 isn't going away any time soon. I suspect those gaps Khotso mentioned are in our future. Looks like we've stemmed the bloodshed for today, but I think we've got a lot more to go.
bmneveu
Well-known member
I thought about this comment when I saw the futures up a lot this morning. Great point.
James48843
Well-known member
BOOM!
Down we go again. S&P now at -0.62% down and falling.
EMW (S fund) now tanking- down -1.38%
gonna be a rough day.
Down we go again. S&P now at -0.62% down and falling.
EMW (S fund) now tanking- down -1.38%
gonna be a rough day.
Double that for the "S" fund.
rangerray
Active member
Yea, big IF.. The Ten Year Treasury note yield continues to drop, Gold is more or less holding steady today, as well as Copper. VIX is more or less unchanged. I think the safety plays are looking more and more attractive to a lot of folks, so more bottom action to come?
bmneveu
Well-known member
It is strange to see the markets down 1%+ and the VIX up less than 2%. I suppose that's because 1% isn't too bad following a 3% day.
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