US Indicies

BBB

Experienced member
1,071 3
Well, whats the verdict?

Was the recent rally a bearish correction or really the start of a new bull market?
 
Last edited:

TheBramble

Legendary member
8,394 1,170
Putting myself in the firing line:-

If it breaks out on a daily close from the 10325-10450 channel then I'd trade that direction to 10000 or 10750.
 

china white

Established member
979 12
my answer is - I dont know. I was long 1100 - 1150 June strangle, surgically closed the calls when the spot was 1147 ish :) , sloppily closed the puts at 1123.5 :(. Now looking to buy the same strangle on Friday night volatility dip. From the volatility perspective much worse entry than the first strangle as the skew had a parallel shift up, but bl**dy hell i want to cash out either way. "Gamma long can't be wrong" as they say it...... :)

PS futs short now btw :)
 

TheBramble

Legendary member
8,394 1,170
TheBramble said:
If it breaks out on a daily close from the 10325-10450 channel then I'd trade that direction to 10000 or 10750.

Things have a habit of coming back to bite one on the bottie...

OK, so it did close above 10450 at 10451, but I'd be the first to admit it wasn't a particularly impressive display of strength.

Modifying my stance (slightly), I'd wait to see support hold defiantly at 10450 on Monday. Any break (intraday) below it would have me considering the channel still in place.
 

chump

Senior member
2,212 274
tough one,but I'd be tempted to opine that we will see a bit of up and a bit of down as usual....
 

Bullish Bear

Member
64 0
I'm generally neutral right now but the market timing research I use suggests a short to medium term top about the 20th. They predicted the recent lows in the week March 20th to 28. Other research I've read suggests a 10530ish top for this cycle on the dow.
 
 
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