There is no news that will turn this market around until everyone gives up and there is a purge.

This has been death by 1,000 cuts.

I see the housing market gonna topple over in the fall just before winter. Then recession for 2023
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Too much negative things intertwined; high oil, bad US administration, war in Ukraine, China COVID lockdowns, super high inflation, credit card debt surging, rates heading higher.

One more bad event or issue will kick this market in the balls. I think that will be the housing market.
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I'm gonna have to put off retirement for another year.
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Wow. Haven't placed a single trade today, just sitting on my hands watching the carnage. Almost grabbed some Tesla $850 calls after the opening dip, thank Almighty God I didn't pull the trigger. Yikes :-)

Wonder if this is finally capitulation, or just a warmup?
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What do you think about AAPL ?
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Might finally hit a real bear market.
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It has cracked 2 major support levels today, 3 if we're being technical (pun intended). Could this be the bottom? Yes. No. Maybe? But there's a saying about trying to catch a falling knife. Next support level is between $138-$140. If $138 cracks, the next level of support is ~$123.
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It moved into a Bearish confirmation. :-)
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Damn, Apple is my core investment. Not selling though, it's only a paper loss.
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S&P must hit about 3840 for a bear market? About 2.5% from here?
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AAPL is an interesting 1-minute chart to watch right now. Keeps trying to crack $146 but dip-buyers are bouncing it. Tug-of-war going on. If $146 cracks it's going to take out a lot of stop-losses, all the dip-buyers will be out, and it will speed up to the downside.
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I would think Apple is the largest holding in mutual funds/ institutions across the board.
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$146 stop-losses just got taken out. Now we'll see if the HFT algos start buying and reverse it, or if it fades to $140.
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Grabbed some AAPL 5/13 $140 puts for 52¢ right here just for fun.

Not much of a closing bounce even though tons of shorts were likely covering.

I think it tests $140 tomorrow, but if I'm wrong my position is small enough not to matter. Risking a couple hundred to potentially make a couple thousand.
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A bad US administration is enough to topple it.
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