It is a lazy Sun afternoon and boy oh boy did the SPY rally on last Fri. It hit the 390 Resistance. At this point, it will be a tough fight. GDP - good or bad ? came in 2.6 above estimate. If you look at the breakdown, it wasnt good. Apple - Good or Bad ? Main biz iPhone wasnt good alth other device biz was doing ok. The rest of the FAANG - 💩  Will the rally continue to end of the year? This will depend on coming FOMC ie Milder tone or tougher tone from JPowell. Next year ? I think next 2 Q will be bad. Sales will drop and btw the INT hike will come into play for US/EU company earning next year. Thats why many analysts say another leg lower as long as Fed dont U turn. Current Fed rate target 5% early next yr. However it is not the drop we shld be worrying. The concern is how hig

Learn something new here [Grin] . I give my humble pie [LOL] ATR ATR , basically give you the average delta up or down price movement . Help you to set a target to take profit or cut loss. Parameters The parameters (1 -3) is your tolerance range. It gives you some idea when to cut loss or take profit. Set at 1 is probably no good bec you end up cut losses too often. Set at 2 also mean you giving yourself roughly 2 days of leeway. Pro /Cons pro - simple . work better if the trend persist.  Con - 1. it doesnt tell you when is a good entry. 2. dont work for stocks that are volatile 3. skewed average for stocks that had recently big up or down over a period. 4. you should set the high at the resistance level instead

The WJ news derailed the chart movement. Is this good news, bad news or No news ? My take. Basically No news because most already know next yr 75bps (per hike) is unlikely. Further big hike like this will cause the treasury market to crack more. If treasury market collapse,  God Save the Queen (ops sorry she is gone) So WJ news is just for them to earn Option money. Next week what to expect?  Monday may continue to rally but dont think it will pass over 383. Tues to Fri , big tech earnings. Market will move according to their earnings. Personally I dont think they will do well [lovely] [Speechless] Final word. The more it rally next week, the more Fed will be hawkish on 2nd Nov FOMC [Mybad] (Jpowell will slap everyone [LOL]) [Comfort] [OMG]

Fri updates For those lazy to read all the crazy news. So what happened on Fri. started off red in early session as the bond yields shot up. [Surprised] Later surprisingly Fed came to the rescue [Grin] There are news Fed MAY reduce rate hike ie increment lesser bps 50- or 25 bps in 2023. So 75bps in Nov , 50-75bps in Dec. And market rally.

great education 👏  //@HelenJanet: Thank you so much @Tiger_Academy for the brief introduction to the concept and benefits of Exchange Traded Funds (ETFs). ETFs are funds that can be bought and sold like stocks. For example, we can trade the Nasdaq 100ETF (QQQ) directly on the Tiger Trade app in both "pre-market" and "intraday trading" modes. ETFs are funds that track not only well-known securities indexes such as the S&P 500 Index, the Nasdaq Index, and the Dow Jones Index, but also many other indexes that aren't as well-known. Nearly all indexes have a corresponding ETF. ETFs are basically a type of mutual fund that invests in stocks. Each ETF is issued and run by

Great stuff . [Like] Let me share with all the best Head and Shoulder theory I have . It works wonder [love you] [Cool]

Replying to @LuckyPiggie:Later happy news from WJ out saying Fed MAY go for lower INT hikes instead of 75bps in 2023. Everyone goes high and market rally. My take. Likely due to option expiry. Most bet SPY will drop. For option seller to earn big money , best price is at 375. So buyers all got burnt.//@LuckyPiggie:Fri updates For those lazy to read all the crazy news. So what happened on Fri. started off red in early session as the bond yields shot up. [Surprised] Later surprisingly Fed came to the rescue [Grin] There are news Fed MAY reduce rate hike ie increment lesser bps 50- or 25 bps in 2023. So 75bps in Nov , 50-75bps in Dec. And market rally.