Comments on: Closing Stock Market Technical Analysis 10-1-19

By: wilhud

wilhud — Wed, 02 Oct 2019 05:48:03 +0000

Nice thing was a lot of bulls got sucked in on the open. NQ reversed 2% from high to low which probably wrong footed the buy the dip crew that try and gap and go every day.

Gives me hope for my November puts.
October puts look very cheap here for a high risk gamble on a big break down – do you ever trade options Randy?

By: rsotc

rsotc — Wed, 02 Oct 2019 02:52:51 +0000

In reply to mproger3. Thx. XLF was down hard today to close on a backtest of the downtrend line off the late Jan '18 highs: Bullish (at least near-term) if the backtest is successful with XLK rallying from here; bearish if XLF moves impulsively back below that TL soon. Here's my daily chart. https://www.screencast.com/t/9m01CjHDuF

By: Nick_SemperFi

Nick_SemperFi — Tue, 01 Oct 2019 23:44:37 +0000

Thanks!!!
VERY interesting charts.

By: mproger3

mproger3 — Tue, 01 Oct 2019 21:50:59 +0000

*other correlation

By: mproger3

mproger3 — Tue, 01 Oct 2019 21:50:24 +0000

Hey Randy you should take a look at the archer correlation to the S&P and XLF. Usually the S&P won’t have extremely impulsive moves without XLF on its side, as well as QQQ.