Rough day on the market

[DaveSkender]

Just some general rantings about the current stock market ...

[DaveSkender]

Days like this, make me think about technical indicators!

Nasdaq 100 (QQQ) at 12pm ET on 08 Aug 2024, as shown in our demo site @ charts.stockindicators.dev

[LeeDongGeon1996]

Where are u going my TQQQ...

[bobtabor]

Wow, I haven't kept up with you in a while. Is that visualization part of your library? I just implemented a simple candlestick chart in WPF yesterday ... wish I would have known!

Hope you're doing well!

[DaveSkender]

Hi Bob, good to hear from you. Those charts are a bit of a couture hack that I'd built off of a charts.js base, specifically for that demo site. It's not part of this library, nor is it in any shape for plug-n-play like an intentionally designed component, but the site code is out there if you want to take a peek. We also have a running list of charting and visualization options that people share.

[DaveSkender]

Someday I'll get around to taking some next steps to making these charts a bit more reusable and perhaps to incorporate more of the library's features. Lately, I've been prioritizing work on the next major version of the library itself, to incorporate more live data scenarios that better support incremental and streaming use cases.

[DaveSkender]

There are no indicators for this: U.S. Fed Chair used the words “more cautious”.

[bobtabor]

I anticipated this and sold off what I could before noon (but couldn't completely escape it). Tom Lee (Fundstrat, FSInsight, CNBC) was saying 2 cuts in 2025 and some in the market were saying 4 cuts. I tended to agree with Tom and knew there might be a sell off, but this got bloody. Hope you didn't get hit too hard, Dave!

[DaveSkender]

No major pain here, just trying to figure out the mechanics of it all. These bots that auto re-level big funds go nuts on new data like this. Instantly! Hopefully it’s all done and doesn’t cascade much further.

[DaveSkender]

In retrospect, we are up ~20% since my last rough day post. Could go either way from here.

[GelLiNN]

@DaveSkender You're a legend man. Our algo predictions are on hiatus after this event. The froth is so strong that I can't in good conscience recommend bulls at the moment. What worries me is that BTC was the defensive flee and that got git hard yesterday AND today. Things seem fishy though I do believe attacks on BTC valuation are only temporary until about March.

[DaveSkender]

Crypto has a lot of momentum bots since it’s so open to algos — flash crash waiting to happen IMO. But, looks like it’s also stabilizing with more bigger players like IBIT, MSTR, and others.