It was a fine intraday shorting opportunity on the YM. Like most days those of us keeping our nose to the grindstone work to eke out some points. Check this out, it doesn’t get much nicer than this. The pivot in question is 233 min (Fibonacci) high to high to 21987 and the 987 is the vibration (Fibonacci).
Imagine oversleeping on Friday morning and waking up to find the Nasdaq down 100 and the Dow up nearly 50. You probably would’ve thought you were dreaming. Perhaps you’d roll over and go back to sleep. In this new era of strange trading days, Friday had to rank right up there with the strangest of them.
Well, no one saw that coming! U.S. technology stocks took a big plunge today, causing the Nasdaq 100 index to drop 1.5% from a fresh record high that it had hit earlier in the day. Technology stocks have been rallying aggressively in recent times, as momentum-chasing speculators bought names such as Alphabet, Amazon, Apple, Facebook and et al. like there was no tomorrow.
It was a decent week for the stock market. Why? It could be because President Donald Trump was out of the country and the dialogue shifted away from scandal to geopolitics. The stock market didn’t have a chance to get upset as everyone took a breather from the growth agenda being interrupted. But he’s back and the domestic problems have not gone away. Who knows what they’ll come up with next.
Shares of Snap Inc jumped 9 % on Wednesday after the owner of messaging app Snapchat received a second analyst "buy" rating following a red-hot public listing this month and with the financial market skeptical about its lofty valuation.
U.S. markets were set to start the fourth quarter on a subdued note as oil prices pared gains, while investors looked forward to economic data that could provide further clues on the health of the economy.