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It's a fake out wait for the pull back. Maybe tomorrow when they announce the jobs number. Today the DOW fell by 800 points to close. Most the major stocks were
by marketgod 7y ago
It's a fake out wait for the pull back. Maybe tomorrow when they announce the jobs number. Today the DOW fell by 800 points to close. Most the major stocks were hitting strong resistances and failed. This looks like a pull back to me. I was short on $DIS and getting hammered but it still looks like that may pay for Apr 17.
Let's see how Friday closes. We need to close above resistance levels for key stocks/indexes.
- rasz 7y agotomorrow? wait till US registers >1K dead per day
- deleted 7y ago[deleted]
- deanmoriarty 7y agoNot saying that you are wrong but, what makes you so confident? Italy has been almost approaching 1,000 deaths a day for a few days now, and yet their stock market has been rising ~12% since March 20th, after dropping 40% since February. Why wouldn't their market drop more since they have so many deaths with no sign of stopping? I am fully expecting the stock market to drop more as we move forward, but it's much less clear to me how one specific event (like the one you or gp are mentioning) could have a direct impact on tomorrow's prices. In 2009 the market started recovering way before the real damages to the economy started disappearing (e.g. unemployment rate actually went back to ~5% just in 2015, and by that point the stock market was in full rebound for years).
- marketgod 7y agoThat's the thing with the market. Whatever you think is right is wrong. That's why most people lose when day/swing trading. For example this jobs report that came out should have caused issues since the numbers were crazy and that was as of Saturday. Next week it is going to be way worst but the market brushed it off. The market is not rational.