Comments on: Charts I'm Watching Today

By: large.coffee@gmail.com

large.coffee@gmail.com — Mon, 07 Oct 2019 17:07:27 +0000

Hi Randy,
if QQQ breaks the upper resistance line that you’ve drawn and goes past 189.4, what would be the target you would set and would this buy signal be more for a day trade setup or do you see this as a larger rally for a new marginal higher high?

By: Dean Drummond

Dean Drummond — Mon, 07 Oct 2019 15:04:21 +0000

In reply to Dean Drummond. I should have also mentioned that although QQQ has moved above the 60m downtrend line, it is coming up on the 189.40ish resistance level now, which is the top of its Aug trading range so not exactly an all-clear buy signal on the equity markets just yet.

By: Dean Drummond

Dean Drummond — Mon, 07 Oct 2019 15:02:12 +0000

In reply to Pbathula. Y.W. /CL has now taken out that 53.81 resistance level as QQQ is starting to move above the 60m downtrend line & SPY above 294, triggering buy signals on all 3 unless those breakouts fail before these 60m candlesticks are finalized.

By: Pbathula

Pbathula — Mon, 07 Oct 2019 13:28:52 +0000

Good morning! thank you very much