{"id":382,"date":"2020-01-11T19:11:06","date_gmt":"2020-01-11T18:11:06","guid":{"rendered":"http:\/\/market-and-us.com\/blog\/?p=382"},"modified":"2020-01-11T19:11:07","modified_gmt":"2020-01-11T18:11:07","slug":"market-crash-started-on-friday","status":"publish","type":"post","link":"https:\/\/market-and-us.com\/blog\/market-crash-started-on-friday-382\/","title":{"rendered":"Market-Crash started on Friday"},"content":{"rendered":"\n

Yes, I am working on several new approaches<\/strong> for my trading understanding. Not only as strategy or scan because I worked on a new code idea<\/strong> as well. There will be new articles soon and this one will be a little shorter for not to add too much different content in one blog post.
What was that? Such a nice bullish week with a return of +2.2% at Friday’s open. But then it got sold to a weekly result of +1.6%<\/strong>. Market-Crash started on Friday. Or what do you think?<\/p>\n\n\n\n

A bearish engulfing screwed everything up…<\/h2>\n\n\n\n

Of course, I am joking. After so many bullish days it just felt like a little crash for many of us. We’ll see if such a headline will lead to more views of the article. \ud83d\ude09<\/p>\n\n\n\n

Yes, the market lost about -0.6% on Friday<\/strong> and there was a sell off to the close. And yes, it was a bearish engulfing<\/strong><\/a>. But I like this pattern because of it’s clearness and it was predictable:<\/p>\n\n\n\n

\"\"
SPY<\/strong> (daily candles, source: thinkorswim)<\/em><\/figcaption><\/figure>\n\n\n\n

First of all I wrote last week<\/a> that there’s no signal yet for a reversal. And so the SPY<\/strong> continued it’s rally<\/strong> to a new all-time-high.<\/p>\n\n\n\n

The transparent boxes around the weeks in the chart are the areas for the expected move<\/strong> I mentioned in the last two weeks (and I should write a separate article about \ud83d\ude00 ). The upper limit of last week’s box was broken<\/strong> above on Thursday. And because it’s “expected” that the SPY closes the week within the box it “had to” move back<\/strong>.<\/p>\n\n\n\n

The bearish engulfing will move the price lower next week<\/span><\/strong> with a high probability. When we will see a doji or inside bar on Monday then I would expect a more sideways or maybe little upwards movement. But it is more likely that we will go back down to $320<\/strong> and then back to $322, the lower limit of the expected move, in my opinion.<\/p>\n\n\n\n

But for not to predict the market too exact, let’s say that we will have more possibilities for the bears<\/strong> than for the bulls. And I would support that although I will have some losses of my swing trades then. A pullback would spend us the healthy rest<\/strong> the market needs after the bullish rally.<\/p>\n\n\n\n

Again about my positions…<\/h2>\n\n\n\n

Just to let you know that I am still trading swings consistently and with strict rules<\/strong>:
JBL<\/strong> is a new position of the week from December 30th on. RH <\/strong>is new since last Monday. SRNE<\/strong> and ARDX<\/strong> were stopped out this week and BLDR<\/strong> reached its first target.<\/p>\n\n\n\n

I do not analyze each trade here because it’s more useful for both sides when including approaches and details and summarizing what I learned<\/strong> from my trades.
If you miss this section just tell me in the comments and I will add it again next week.<\/em><\/p>\n\n\n\n

\n\n\n\n

Therefore I will write new articles<\/span> soon: One will be about coding<\/span>, one about a new tool<\/span> I discovered for me and one about my new start of day-trading futures<\/span> (some of you may know that I did last year)<\/em>.<\/p>\n\n\n\n

So, it will be excited, the Market-Crash started on Friday \ud83d\ude09 and I wish you a healthy, profitable new week<\/span> in 2020!<\/p>\n","protected":false},"excerpt":{"rendered":"

Yes, I am working on several new approaches for my trading understanding. Not only as strategy or scan because I worked on a new code idea as well. There will be new articles soon and this one will be a little shorter for not to add too much different content in one blog post.What was […]<\/p>\n","protected":false},"author":1,"featured_media":393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":""},"categories":[5],"tags":[99,94,100,93,95,75,96,97,9,98,29,30,34],"yoast_head":"\nMarket-Crash started on Friday - The Market and Us<\/title>\n<meta name=\"description\" content=\"Read about the weekly review of the market and my analysis of the selling into Friday's close. What would you say? 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