Author Topic: S&P500  (Read 5786 times)

BWS

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Re: S&P500
« Reply #180 on: July 14, 2020, 09:48:27 AM »
S&P had a bad day yesterday. Fell 0.94% down to 3155 after inching up to 3232 earlier in the day.

Rising Us coronvirus levels coupled with falling tech share prices kicked in after lunch, although the markets are so volatile lately anything could happen today.

I still see resistance above 3100, but in all honesty I believe the tech stocks are very overpriced. If the index should break below 3100, and especially if it drops past 3000, there could be a very large correction within days
"I wouldn't say I'm the best manager in the business, but I'm probably in the top 1" - Brian Clough

eddieb

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Re: S&P500
« Reply #181 on: July 15, 2020, 11:54:17 AM »
Hi @Kaitsu hows your S&P trading going?

There's certainly plenty of movement recently, in both directions.

Currently sitting just over 1% up on the day at 3218, but the markets Stateside haven't opened yet so anything could happen.
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Kaitsu

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Re: S&P500
« Reply #182 on: July 15, 2020, 03:44:45 PM »
Hi @Kaitsu hows your S&P trading going?

That is very kind of you to ask! @eddieb, I guess the only word to describe it is "steady"! I am not carrying any longer term positions and mainly just day-trading off the 15 min chart.

I haven't really been around here for a while because I kind of have this rather irrational feeling that the less I post the more other people start to post!  :-\  Therefore in that sense, the site does better when I'm away!! Haha!

There's certainly plenty of movement recently, in both directions.

Yes there is - and I think the market is somewhat directionless and prone to sudden news spikes. That is why I currently prefer to trade in/out off the 15min chart. When a sudden spurt starts it tends to keep going for at least 50-150 pips and that is all I looking for at present.

How about you?

eddieb

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Re: S&P500
« Reply #183 on: July 16, 2020, 03:17:23 PM »
the less I post the more other people start to post!    Therefore in that sense, the site does better when I'm away!! Haha!
I'm  sure its nothing personal :)

My trading is okay. I've been having Internet problems since March, I don't think my provider can handle the extra traffic with so many working from home or on lock down. Sometimes I can't get a connection at all for a day or two, which messes up trading.

Probably lucky I changed my main focus to shares, once picked I can leave them unlike forex. Don't  know if you've noticed but pipmehappy has started posting some videos. I'm always interested in how other people trade and the process behind it.

Namaste
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

eddieb

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Re: S&P500
« Reply #184 on: July 21, 2020, 08:23:57 AM »
S&P500 didnt break any records yesterday, finishing on 3251 just 0.84% up on the day.

Nasdaq fared better, up 2.5% to 10767, but the start performer was the Dow, up 8.9% to 26680
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eddieb

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Re: S&P500
« Reply #185 on: July 24, 2020, 09:32:08 AM »
Increased USA/China tensions weighed on Us markets, with S&P futures down 0.56% and Nasdaq futures down 1.18%

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eddieb

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Re: S&P500
« Reply #186 on: July 30, 2020, 04:53:37 PM »
Wow!!! Todays figures show that the U.S. economy shrank by an annualized rate of 32.9% in the Q2, the worst decline since the Great Depression as the coronavirus pandemic hammered consumer spending.

Stockmarkets have plunged on the news. Dax is down 3.5%, FTSE is down 2.2%, S&P not too bad at -0.7%
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Kaitsu

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Re: S&P500
« Reply #187 on: July 31, 2020, 07:32:05 AM »
Wow!!! Todays figures show that the U.S. economy shrank by an annualized rate of 32.9% in the Q2, the worst decline since the Great Depression as the coronavirus pandemic hammered consumer spending.
....and in spite of that we still ended up with an up-day! Just shows the problem of trying to trade according to news!

There was enough of an intraday down move to satisfy the short term traders but the whole picture reversed in a flash on the simultaneous release of the top four tech companies Apple, Amazon, Facebook and Alphabet(Google). Apparently the first time these have been released on the same day.

They are companies that are typically gaining hugely on the back of COVID-19. This I knew. But I didn't know until I read it that these four companies represent a fifth of the value of the SP500 companies - that is a major disproportionate impact and no wonder the price spiked!

But that still leaves the other "four fifths" which are at the mercy of the overall state of the economy and it is no surprise to see a drift off from yesterday's highs as that news now becomes "yesterday's" story!

Ho-hum, but ain't trading fun!!!

eddieb

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Re: S&P500
« Reply #188 on: July 31, 2020, 08:26:15 AM »
Just shows the problem of trying to trade according to news!
I scares me when I see new traders asking how to trade the news and other new traders replying to them with well-intentioned but poor advice.

I hadn't realised that this was the first time the big 4 had released on the same day, that would be a day I would not want to be trading their shares so I'll stick that in the diary.

The share these have of the S&P makes investing in tracker funds difficult, as they all hold a big chunk of each of these. If one sneezes the whole S&P catches a cold and theres no avoiding it.

Like you said, ain't trading fun!
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Kaitsu

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Re: S&P500
« Reply #189 on: July 31, 2020, 08:32:50 PM »
After all the news and talk and predictions, we actually spent this entire week within last week's range. We didn't break the high or the low.

A position trader would not be too pleased with that but for short term traders its been a good, and actually rather easy money, week for trading.

Seems the view of trading short term intraday continues to be the most productive - at least for now.....

eddieb

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Re: S&P500
« Reply #190 on: August 01, 2020, 08:18:05 AM »
After all the news and talk and predictions, we actually spent this entire week within last week's range. We didn't break the high or the low.
Thats been the story of late. No real sense of direction, just a few day up then a few days back down again.
I'm actually finding longer runs in forex, especially as the USD has been falling against most majors in recent weeks.
The US analysts seem to be warming to a possible Biden win, seeing him as more palatable than Sanders and less inclined to break up or legislate against Big Tech, so hopefully there won't be too many shocks in store.
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Kaitsu

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Re: S&P500
« Reply #191 on: August 01, 2020, 01:38:02 PM »
Thats been the story of late. No real sense of direction, just a few day up then a few days back down again.

Exactly! And I can't help wondering why that is! If one considers the general state of the US economy, the battles with Big Tech and China, Biden's lead in the polls and the time lapse before a COVID 19 vaccine could reach the most part of the population, then there is no logical reason why the SP500 is still up where it is!

It is difficult not to indulge in conspiracy theories wherein the large corporates and high-wealth individuals are tactically buying into vulnerable dips before they can develop into a "scare" sell-off and thereby keeping it supported - and then gently selling off again once it has regained its high ground. I don't know if that is possible even given the number of billionaires and huge corporates in the US but I guess, if coordinated it could work - it is strange how so often the rallies occur at times when the market is otherwise off-guard or in thin volumes or in a technical "oversold" condition, such as yesterdays' closing hours on the week.................................

BWS

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Re: S&P500
« Reply #192 on: August 01, 2020, 03:31:55 PM »
The S&P500 is distorted by 4 big players,  Alphabet,Apple, Microsoft  and Amazon, who collectively have contributed 6% points growth to the S&P this year, helping the S&P overall to remain at pre-Covid levels.
If one of these four were to hit a sticky patch, and I would personally be wary of Apple who haven't truly innovated in years and are heavily dependent on a weak US market, then the S&P could suffer disproportionately.
« Last Edit: August 10, 2020, 04:01:17 PM by BWS »
"I wouldn't say I'm the best manager in the business, but I'm probably in the top 1" - Brian Clough

BWS

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Re: S&P500
« Reply #193 on: August 10, 2020, 04:04:42 PM »
Reuters report that U.S. job openings increased in June but remained below their pre-COVID-19 pandemic level, supporting the view that it could take the labor market years to absorb the tens of millions of unemployed people.
The Labor Department said that job openings, a measure of labor demand, rose 518,000 to 5.9 million on the last day of June.
This followed news last Friday that the economy created 1.763 million jobs in July, decelerating from a record 4.791 million in June. The economy has regained 9.3 million of the 22 million jobs lost between February and April.
"I wouldn't say I'm the best manager in the business, but I'm probably in the top 1" - Brian Clough