Quote:
Originally Posted by dangerus_car
not a financial advise, just my opinion
on monday, two things can happen (see friday's last hour trading)
1. it will rally and if it is, it shows that it hits a higher low since it's a bit higher than june low
2. if monday goes lower, it will go lower just a little bit below (0.5% max below the lowest june low) the june low for SPY and QQQ, again, to shake-out-the-weak as you can see on today's trading, it reaches low, then went back up pretty strong. once it hits that low below June low, it will go back up strong, it can happen either after few hours in early trading pre lunch (probably pre market sunday and monday market will go lower than june low, to shake those out), then start trading monday, all sells after stop losses, or slowly going down, then go back up after 1 PM EDT.
as i m pretty sure, many stop losses are around that area, market makers are going to feast on that stop losses, that is if you are playing QQQ and SPY.
if you are playing stock, i don't think it will go lower than fridays low, especially for mega cap. just check on thursday. when SPY and QQQ went red, MSFT, GOOG, AAPL were actually green, very strong, it just went red friday due to SPY and QQQ pressure that was too strong. if early monday is sell, mega caps will not go lower than friday low.
then the rest of the last september week will be a consolidation week as Market Makers will start its accumulation phase, then early first week october is mark up week, 2nd October week is distribution week, then come the CPI report. CPI will make it either a stair case going up again, or will go down big red to erase all the first week mark up gain.
that's my assessment, play-by-play for the next 3 weeks
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Why don't you think we can go lower? In the last 3 recessions we dipped over 10% the previous low (triple bottom) so it's possible we can go at least 10% lower than June lows.
I hope you're right though. What made me stronger was early 2020 when everything was going down 4% everyday for what seemed like 3 months. Now we can handle anything!