Clicky

Archives

March 2017
MTWTFSS
« Feb  
 12345
6789101112
13141516171819
20212223242526
2728293031 

Equity Index Sell Signals Triggered & Pending

The first 15-minute chart of IWM was posted in the Trading Room yesterday shortly before noon with the following comments: Aggressive short entry (unofficial) here on the breakdown below the primary uptrend line on the 15-min chart of IWM (TZA long or TNA short). Additional confirmation will come on a break below the alternative uptrend line & a bearish cross of the 28/68ema pair (15–minute frame). Horizontal lines mark potential price targets (unadjusted for optimal fill, set BTC orders slightly above). The second chart is IWM as of yesterday's close, showing prices clearly closing below both trendlines as well as a confirm sell signal on the 28/68-ema pair (histogram).

At this point, I'm waiting (and expecting) a break below this minor uptrend line as well as a bearish crossover on the 28/68-ema pair on this QQQ 15-minute chart for additional confirmation that a new downtrend in the US markets is most likely underway. One final note worth mentioning is that AAPL is once again trading below the key 40-week EMA, which has done a superb job of defining primary bull & bear markets. The last few weeks have seen AAPL closing above & below this level after printing the first weekly close below back on August 7th, signaling the start of a new bear market that may or may not be over yet. More on AAPL later.

QQQ 15 minute Dec 3rd

QQQ 15 minute Dec 3rd

Dec 3, 2015 9:55am|Categories: Equity Market Analysis|Tags: , , , |2 Comments

2 Comments

  1. Profile gravatar of tom4930
    tom4930 December 3, 2015 10:20 am at 10:20 am

    Hi Randy,

    Trying to understand your system. You appear to have have recently opened an active short trade on QQQ. Then….today, you post this new information on new pending signals. Does this mean that if the pending signals pan out, that you will add to your position on this trade? Also, do your arrows mean that you would exit the trade entirely at 112.75 support? Or that you would perhaps take profits at that level but still remain in the trade in the event of further downside?

    Thanks!

    0
  2. Profile gravatar of rsotc
    rsotc December 3, 2015 10:39 am at 10:39 am

    Hi Tom, The most recent “official” short trade for QQQ/long SQQQ exceeded the suggested stop & should have been removed from the Active Trades category. I’ve been trying to find the time to update the short trade ideas but I will never remove a completed trade, successful or not, without publishing a post at the time that I move it from the Active Trades to the Completed Trades category. I do this so that losing trades don’t just “vanish” but as my primary focus is on my own trading, finding new trade ideas, & posting the latest market developments, updating the existing trade ideas often takes a back seat & I’ll occasionally batch out all the trades that have either stopped out of hit their final price target when I get the time.
    To answer your question directly, the recent comments & sell signals on IWM & QQQ were not posted as official trade ideas but that really shouldn’t matter as I believe the odds that they will play out are good. I’m just so far behind in updating the active short trade ideas that I didn’t want to add any more official index shorts until I remove the last QQQ/SQQQ trade as well as the others that were stopped out.
    The new Trading Room will allow me to post a lot more trade ideas that I have traditionally posted on the front page of the site. As such, I won’t make them all official trades as that would nearly impossible for me to track & post follow-ups on every trade idea that I share here. Basically, pick the one’s that you like & that mesh with your own analysis, objective & trading style & ignore the rest. Hope that helps. -Randy

    0

Comments are closed.