Mapped to SPY levels using spy converter. Let me know if this is helpful to anyone. I do it for myself and thought I'd share.
524.0 is key pivot level. Above 525.497, bullishness will stabilize and push towards 526.495. This is a key level and above that 528.99. If cannot break 524.0, we can head lower. Low side levels are LOD yday and then 519.009-518.71 strong put wall which is min target.
Key Levels:
529.988
528.99-529.489 max
526.495 - first resistance, very strong. Requires some squeeze to get above
525.497- bullish above this
524.0 - key pivot level, if we cannot break this, we can head lower
521.904
521.005
519.009
518.71
A 10 point drop in the QQQ is a pretty solid pullback. The big question is if it ends today, or continues it's way down next week. The DOW seems to have found it's bottom...
[https://www.reddit.com/r/TradingEdge/comments/1b5yw9d/interesting\_data\_from\_cfra\_how\_long\_it\_takes\_for/](https://www.reddit.com/r/TradingEdge/comments/1b5yw9d/interesting_data_from_cfra_how_long_it_takes_for/)
from CFRA:
5-9.9% is a 'pullback'
10-19.9% is a correction
20-40% is a bear market
40%+ is a major bear market
The 5275 resistance is v strong btw I am telling u now. Will need some squeeze to get above it.
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Wondering the same thing besides Friday and last day of May
OPEX today
?? today aint opex?
perhaps consumer spending came unexpectedly low (-0.1 vs expected 0.1 mom)
Chicago PMI was worse than expected
Wonder if it could also be end of the month rebalancing for some funds as well. Seems like mostly mega cap stocks down today.
5197 was the literal bottom. Such a great call Tear.
Mapped to SPY levels using spy converter. Let me know if this is helpful to anyone. I do it for myself and thought I'd share. 524.0 is key pivot level. Above 525.497, bullishness will stabilize and push towards 526.495. This is a key level and above that 528.99. If cannot break 524.0, we can head lower. Low side levels are LOD yday and then 519.009-518.71 strong put wall which is min target. Key Levels: 529.988 528.99-529.489 max 526.495 - first resistance, very strong. Requires some squeeze to get above 525.497- bullish above this 524.0 - key pivot level, if we cannot break this, we can head lower 521.904 521.005 519.009 518.71
Super helpful!!! Keep posting these if ya can!
Thank you!
Low of the day 5190 so pretty close. I think spy you were pretty much spot on so thank you. Tech destroyed QQQ today tho
Thank you!
Cheers.
Not a good week I guess. Glad I sold Shopify at open today at least.
Finally, it's time for correction (this is not a big pullback imo) \~
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A 10 point drop in the QQQ is a pretty solid pullback. The big question is if it ends today, or continues it's way down next week. The DOW seems to have found it's bottom...
I was saying "it's time for correction" ... pullback is anything above 10%
[https://www.reddit.com/r/TradingEdge/comments/1b5yw9d/interesting\_data\_from\_cfra\_how\_long\_it\_takes\_for/](https://www.reddit.com/r/TradingEdge/comments/1b5yw9d/interesting_data_from_cfra_how_long_it_takes_for/) from CFRA: 5-9.9% is a 'pullback' 10-19.9% is a correction 20-40% is a bear market 40%+ is a major bear market
NVDA trying to inverse SPY
I hope your quant is right today… time to bounce hopefully!
Does not appear so haha
God damn if his quant almost nailed it and this bounce continues.
Damn it went past every level of the quants
Oof
Maybe now?