A market that bottomed 9 days ago while cases rise and macro data worsens is a market that has stopped panicking and accepted that news will be bad for a while $NDX
@ukarlewitz
A couple of quick notes about this study. 1) It was noted that the link was old, so I took a look and it has held up very well over the last several years when looking out 2-4 weeks. 2) According to my Tradestation data, 4/6/20 was < 90% up vol. But Norgate says > 90%.
@ukarlewitz
Urban is just making the point that relative to today, the market did bottom (was lower) 9 days ago. That's a fact. He isn't saying there won't be more ahead.
@ukarlewitz
There has been no acceptance of reality. That is, nothing that was before, is. The complete lack of the truth which is confronting humanity. What got us here.
What I ask? Think...
@ukarlewitz
We've approved medications, has loads of stimulus, seen infection rates decline, slashed rates, developed testing, developed vaccines. Eventually this will all pass.
@ukarlewitz
I am a little concerned that the first leg down was panic, leverage selling. This next leg down, when Mr. Market finally rips the beloved big tech names from the hands of retail and the Sophisticates, will be a slow, grueling, painful Batan death march. Hope I'm wrong.