That's great. Trailing stop or some other trigger? 53.25 points without pulling back more than 6.5 points starting at 11:13. Incredible rally and definitely not your every day move.
So, we just had the ultimate bear trap. Could this be the ultimate bull trap? No predictions for tomorrow as of now, but what could be interesting to know is that this kind of trend day does not necessarily see follow through the next day and can easily slide lower. If price history means anything.
What was the catalyst behind today's move? I kinda knew today would be bullish, but hot damn, who woulda thought it would be one of those face rippers. As for tomorrow, I see a modest down day, mostly due to profit taking.
catalyst was this was only way bull case would remain viable. Sell off previous 2 days felt contained
I keep saying it’s a stealth bull market, whilst most are looking at SPX, individual stocks are already in rally mode. By the time crowd wakes up to this, it will be same scenario as always.
Likely priced in already, Wall Street has predictive models way more advanced than what any of us may be using IF looking at fundamentals, hence +5% AH.
Is there traction going forward though? For some reason, I feel we'll just put in a double top and keel over by next Wednesday. I can already hear the boys on Wall Street: "What, I said there would be a bull market? I dunno what you've been smoking, man." Go figure.
Out of curiosity, I wonder if you don't mind sharing some stats of your algo? I'm always intrigued by the stats of traders, things like win rate, average win vs. average loss, number of trades taken, that sort of thing. The common theme seems to be to cut losers quickly and let winners run. Many traders seem to say that easily half of their trades are losers, and hence why the win needs to be bigger than the loss, but I wonder if you don't mind sharing some simple stats like this. Is your algo just grinding it out day to day or is it always printing money?
Will AAPL breakdown or breakthrough the TL? Weighing a whopping 7.2% of SPX index, it does have an influence on oscillations of the index. With earnings coming up in May, if I was to guesstimate, I’d say AAPL smashes the TL, even if temporarily, and by doing so, will drag SPX (and surely NDX) up with it. My 2c