Mr. Market is lost... directionless. It knows it must retest Monday's lows. So, might as well get to it.
Tonight, Cramer was talking about Tom DeMark. Allegedly, he has an impressive track record of calling tops and bottoms.
https://en.wikipedia.org/wiki/Thomas_DeMark
DeMark Analytics
https://symbolik.com/
Cramer said he got a call from DeMark on Monday saying, "They thought it was the bottom" (in video below) and that they expect a 10% - 15% temporary bounce from here. Of course, he got that bounce today. One day after making that call. Now, they are looking to retest Monday's lows.
Now, watch this video of Cramer talking about DeMark:
https://www.cnbc.com/video/2020/03/2...ys-bounce.html
The following are Demark's Absolute Retracement Projections:
S&P: 2,097 (It was 2,191.86 on Monday, 23 Mar)
Dow: 18,183 (It was 18,213.65 on Monday, 23 Mar)
I'll be keeping my eye out for these numbers.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
Mr. Market is lost... directionless. It knows it must retest Monday's lows. So, might as well get to it.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
Oh oh... a lot can happen in 11 minutes... when I posted that congrats post.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
On the bright side, at least the Dow has finally posted its first back-to-back gains since 5-6 Feb.
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
No FOMO here. Patiently waiting for the retest...
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
There are gaps above and below which way do we go? Both directions need filled but which ones gets done first. Wish I knew but I'm with you and hoping to see the ones below get filled with a retest. It's hard though with big money pockets Powell turning on all the presses and waiting for a retest could take a very long time. Look how long it took to fill the one from Oct 20 and I may be wrong but there might have been one left from initial Powell Put in Dec/Jan 19. To be honest this is why the 2 trade limit sucks. I know I was out early in the month and even when the price got to where I considered ok I was out of trades hoping to make it to Apr however Big Money Powell stepped in again. Guess this is another lesson I needed to learn in being patient. Thank you Sir may I have another.
Cramer says that algos are programmed to "bring down the S&P" when oil "craters." If so, then this bounce is very suspicious.
oil.jpg
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
Here kitty kitty...
Cat.jpg
"Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7
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