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Futures up both sides of the pond,this will fly today
'US stocks tumble amid fears of market correction'
https://www.bbc.co.uk/news/business-58632681
Talk about a self fulfilling prophecy. I've got this huge fear RR will rise to 150p soon.
Well lets hope Kitty returns all opinions are welcome and shouldn’t take anything personally. Poor old Falky gets abused everyday yet keeps coming back on red or green days.
Thanks CW I use this link myself https://www.cnbc.com/pre-markets/
CW I do agree healthy debate is good but excessive discussion at the weekend on it when market is closed does unsettle some people hence probably the reaction today.
Sometimes a rally in the last hour of trading can signal a near bottom in the move. ? If you look at todays candlestick it's spikey just like November and March on the chart. Not saying I'm correct but it's there to be seen. RSI is near oversold and Stochastic is also. Todays low took us back to May and the 200 day moving average isn't a million miles away at 4100. Could easily go sideways from here and catch up ? Why should it crash anyway we've just had a slump last year. ? Earnings are forecast higher next year so nothing negative.
https://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p27848000232&a=226295345&listNum=1
CW I was thinking about 10% myself in line with a correction. I have been meaning to re-enter Microsoft for a while - I actually sold out at 250 for quick money in other stocks which was a bad decision based on where it went since.
Falky on the correction this doesn’t have to be a huge market crash it is anything c.10% or more so e.g. Nasdaq had a correction in March after reaching all time highs.
Longer term the US market always corrects itself so won’t affect RR LTHs. Just short term there may be volatility but I am happy to leave my RR holding as is and find some other dip buys.
My observation for the US market is that corrections do not last beyond a 2-3 trading sessions and thereafter soon they get back to an all time high. Markets will rebound later in the week.
CW just briefly on Microsoft what do you think is a good range?
S&P 500 corrected 5% at 1 point today it will be interesting to see if it reaches 10% if China situation worsens / Powell updates
Also CW good you posted despite contrasting views on RR short term. I think ppl should post on red and green days regardless if good or bad for them.
CW agreed US markets is important but also what today shows is never get too clever with taking core holding out as may miss big news - even UK govt officials were not expecting it.
On the topic of US markets I am most closely watching Weds AM when Chinese come back of public holidays and react to Evergrande volatility. There could be some great dip buying opps by end of week. Can’t wait to load up on Microsoft for the long term after a correction.
You and kitty did tell everyone cw.... you was also saying a big fall Friday quadruple witching... all I can see is 4.2% blue
I hope Us stock does Bleed to the bones . I really hope it just bloody crashes now rather then up and downs . We get good news then straight away US is right behind it with a bad turn . There must be way to separate the stock from Us market . I can’t stand them idiots .
Be ready for potential pullback early morning tomorrow the US market continues to bleed heavily and even Rycey down. Doesn’t change fact RR has 1 out of 2 huge catalysts ticked and will keep going higher once overall market rebounds