Black Monday

[Tomtom]

Mr. Market doesn't seem to care right now, shrugged off the higher inflation and took off. Maybe realising Powell tied one hand behind the Feds back by promising no 75bps rises yesterday made them realise that the inflation numbers didn't really matter all that much and the Fed would do whatever it was going to do anyway regardless of the inflation data?

[Ricky-bobby]

Big dip tomorrow? Feels like the warm up?..

[bull....]

Inflation 8.3%, Core 6.2%. So slightly higher than estimates. Real hourly earning -2.6%.

Sell off again?

Inflation barreled ahead at 8.3% in April from a year ago, remaining near 40-year highs


https://www.cnbc.com/2022/05/11/cpi-april-2022.html

3800 here we come or lower ?

these hot inflation figures are political in the US WHICH MEANS LOTS OF PRESSURE ON POWELL

[bull....]

i was talking the other day about the correllation between bitcoin and nasdaq and how in sync they are. or is nasdaq leading bitcoin ?

well anyway who ever is leading who got some interesting things happening like
bitcoin sitting on major support roughly now , has had big bounces of these levels twice since 2021
anyway im not saying it going to bounce here but im more wondering what happen if it breaks down below these big supports ? would that imply nasdaq will get crushed on the downside along with the bitcoin anyway worth watching the bitcoin level

[Entrep]

i was talking the other day about the correllation between bitcoin and nasdaq and how in sync they are. or is nasdaq leading bitcoin ?

well anyway who ever is leading who got some interesting things happening like
bitcoin sitting on major support roughly now , has had big bounces of these levels twice since 2021
anyway im not saying it going to bounce here but im more wondering what happen if it breaks down below these big supports ? would that imply nasdaq will get crushed on the downside along with the bitcoin anyway worth watching the bitcoin level

BTC has other stuff going on right now (LUNA/UST) that is nuking it.

[winner69]

According to CNBC (your fav) the consensus is for 8.1% headline CPI and core CPI of 6%. Fingers crossed it comes in below.

https://www.cnbc.com/amp/2022/05/10/...y-peaked-.html

Think we could all do another day without the yanks market melting down

Just as well NZ inflation is so hard to calculate we only do it quarterly

So well live with 6.9% for a few more months ….cool eh

[mike2020]

Just as well NZ inflation is so hard to calculate we only do it quarterly

So well live with 6.9% for a few more months ….cool eh

Another reason I see strong dividend payers as a good investment still. Inflation will take care of interest rates.

[alokdhir]

After reading Hoop's thoughts about Bear markets ....I did some more research and found that Bear markets can be mostly short lived ...fast and furious rerating of stock prices based on changed fundamentals ....very likely to overshoot fair values by a huge margin as when stampede happens then destruction also is caused .

So what expert TA people and experienced analysts think aloud about possible level at which NZX 50 will become deep value ....like Covid drop it went till 8500 intraday ...it was faster down so could recover fast too ....this time it can stay down longer till fundamentals support recovery ...

IMO anything close to 10000-10500 band will make NZX 50 look value and it may stabilise around that ...intra day or short term can undershoot that ...but base formation maybe around that band ....another 10% downside possible ...but need some up retracement first ...Hoops bear rally till 11700 can do that then stage 3 and final capitulation around October !!!

[SailorRob]

After reading Hoop's thoughts about Bear markets ....I did some more research and found that Bear markets can be mostly short lived ...fast and furious rerating of stock prices based on changed fundamentals ....very likely to overshoot fair values by a huge margin as when stampede happens then destruction also is caused .

So what expert TA people and experienced analysts think aloud about possible level at which NZX 50 will become deep value ....like Covid drop it went till 8500 intraday ...it was faster down so could recover fast too ....this time it can stay down longer till fundamentals support recovery ...

IMO anything close to 10000-10500 band will make NZX 50 look value and it may stabilise around that ...intra day or short term can undershoot that ...but base formation maybe around that band ....another 10% downside possible ...but need some up retracement first ...Hoops bear rally till 11700 can do that then stage 3 and final capitulation around October !!!

TA still works on a Gross index which reinvests dividends?

[alokdhir]

TA still works on a Gross index which reinvests dividends?

I am not a TA expert ...just gave NZXG levels for easier understanding ...also its a general process exercise ...not looking to be precise