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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (44593)	11/24/2021 10:24:30 AM
From: ajtj99	1 Recommendation Recommended By Lee Lichterman III Respond to of 96690

IWM is bouncing off the 50-day SMA today: schrts.co

To: Lee Lichterman III who wrote (44593)	11/24/2021 11:52:35 AM
From: Jacob Snyder	Read Replies (1) \| Respond to of 96690

Breadth improvement? I don’t see it. SPX stocks above 200dma: 484 April peak 368 today schrts.co

To: Lee Lichterman III who wrote (44593)	11/26/2021 6:15:31 AM
From: Lee Lichterman III	1 Recommendation Recommended By sunabeach Read Replies (1) \| Respond to of 96690

Couldn't sleep as usual and woke up to this bloodbath. Scalped some SPY between 460-461.6 but have stopped as it has bounced in here 3 times now so it's either hammering out a bottom or softening it up to break down lower. New Covid variant that can bypass immunity from vaccines and/or prior infection is excuse they are using but detiorating internals and skyhigh valuations were the warning signs. Everybody and their mother was so sure of the bullish seasonality it almost couldn't go any other way. Who knows, we could bounce and roar to new all time highs but as I said, the long term trend line is SPX 3700 and climbs about 300 points a year. We're at 4600 with us down 100 points from the high this morning. A 50% retrace of the run from the October low would be around 4500. This drop caught me a little off guard so that is what I'm going to target until I get a chance to look at charts. I figure Max Pain on the SPY to be around 467 for today but seriously doubt they can ramp it that high. Who knows but I imagine they'll just have to lube up and take it and Delta hedge the best they can. Today shouldn't be boring. I'm going back to sleep... I hope.