Posted on 02/28/2020 6:27:30 AM PST by rdl6989
U.S. stock futures pointed to more losses early Friday after the major indexes suffered a tumble that sent them more than 10% below their record highs.
As of 9 a.m. ET, Dow Jones Industrial Average futures were down about 600 points and indicated an opening loss of 800 points. S&P 500 and Nasdaq 100 futures also pointed to a lower open on Friday.
Futures were under pressure in part because investors kept adding to their bond-market exposure. The benchmark U.S. 10-year Treasury yield touched a fresh record low. It was last at 1.18%. Yields move inversely to prices.
(Excerpt) Read more at cnbc.com ...
What does it show? Im sick right now and having a hard time doing much. Would be thankful for a recap of what you are pointing out in your post.
Thank you, I will.
Exactly, I don’t need any of it now and I had cash on the sideline waiting for an opportunity....buy buy buy!
For example - during 2018 - we fell to the weekly 200 moving average - which corresponded to the 50 monthly MA. Right now we are at the 20 monthly MA on SPY and the NAS is at the 50 weekly MA.
For SPY - the support levels are 289 (which we have bounced off of nicely); 260-265 (Jan 2019 levels) and finally 185 - which is Jan 2016 levels.
For the NAS (QQQ) - support levels are 187; 160-164; and 100.
This will be partially offset by people like me who are buying cheaper shares of the funds in their 401K as this Friday is payday. Besides buying a set of shares every payday is a simple way to do dollar cost averaging. If you are not planning to use the money you investing in the stock market in the next few months you will come out at worst neutral, and likely ahead after the panic subsides.
Yes everyone knows that. But new investors who have had big gains in the past 10 years will rush to stop all their gains from vanishing - they dont have the market experience in real life.
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