Comments on: Charts I’m Watching Today https://rightsideofthechart.com/charts-im-watching-today-22/ Stock Trading, Investing & Market Analysis Fri, 20 Sep 2019 17:09:28 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: centraltexaslife https://rightsideofthechart.com/charts-im-watching-today-22/#comment-6660 Tue, 09 Jul 2019 14:29:43 +0000 https://rightsideofthechart.com/?p=191996#comment-6660 In reply to rsotc.

You are beyond fantastic

]]> By: rsotc https://rightsideofthechart.com/charts-im-watching-today-22/#comment-6659 Tue, 09 Jul 2019 13:36:13 +0000 https://rightsideofthechart.com/?p=191996#comment-6659 Both /ES & /NQ have broken out above those 60-min bullish falling wedges & impulsively so far, which helps to confirm the breakouts.

]]> By: rsotc https://rightsideofthechart.com/charts-im-watching-today-22/#comment-6658 Tue, 09 Jul 2019 13:09:57 +0000 https://rightsideofthechart.com/?p=191996#comment-6658 I will make a point to mention some of the ETF proxies/alternatives when posting charts of futures but keep in mind that there are often numerous, sometimes as many as a half-dozen or more ETF alternative for trading a single index or sector. For example, the S&P 500 can be traded long or short using SPY, SSO, SPXL, SH, SDS, SPXS & more (those are just a few popularly SPX tracking ETFs that come to mind). Some people prefer the leveraged ETFs while some refuse to use them & others like the 2x but avoid the 3x leveraged ETFs. Other prefer to short the long ETFs (e.g. SPY) while yet others prefer to buy the inverse ETFs to short (e.g.- SH, SDS, or SPXL).

One other consideration, is that when I post the charts of an index or sector without using futures, I prefer to use the 1x, non-leveraged tracking ETFs, such as SPY, QQQ, GDX, XBI, etc. vs. SPXL/SPXS:, S/TQQQ, NUGT/DUST or LABU/D since the leveraged ETFs often suffer from decay which will paint an inaccurate/distored price history on the charts (i.e.- trendlines & price support/resistance levels may not align with the levels on the actual index or 1x ETF). UGAZ is an exception as the 1x nat gas ETN’s do a lousy job of tracking nat gas prices due to their rolling of futures so I’ll typically use UGAZ for my ETN charting proxy.

On the securities above, SPY & QQQ are the 1x for the two indexes above with 60-min charts, including the comparable trendlines & various support levels, posted yesterday. Also as mentioned above, JO is the ETN for coffee & one can either short TLT or go long TBT for a short trade on long-term Treasuries. PALL is the ETF for palladium (chart with targets below) and I plan to follow up with a more detail analysis on gold, including some key levels on GLD, later today.


]]> By: centraltexaslife https://rightsideofthechart.com/charts-im-watching-today-22/#comment-6657 Tue, 09 Jul 2019 12:38:49 +0000 https://rightsideofthechart.com/?p=191996#comment-6657 Randy, as you develop the post July 4 themes, could you include the long/inverse ETF proxies (when appropriate) for the distinct minority of your followers who, at this point, trade only ETFs?

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