Comments on: Index ETF & Futures Support Level & Price Targets

By: Kostner

Kostner — Wed, 27 May 2020 23:53:50 +0000

Randy Concerning the (Spy/ES) charts? Since we just broke out of a several month trading range and just ran a test of the top of the range is it true that the charts should play out as follows? Take the distance between the top and bottom of range and add it to the breakout point of the box. In this case to the upside or did I miss read the chart pattern??
Thanks so much for any help you can provide.

By: becky

becky — Wed, 27 May 2020 08:18:59 +0000

In reply to FooHawk.

That’s some company, not coffee futures. https://www.tradingview.com/symbols/ICEUS-KC1!/

By: chrisneal

chrisneal — Wed, 27 May 2020 07:23:42 +0000

In reply to FooHawk. Ah, try KC1! That's the continuous contract. KC says coffee when I pull it up, but only shows the month of May.. NQ1! , ES1!, and RTY1! should give you futures info too

By: FooHawk

FooHawk — Wed, 27 May 2020 00:43:59 +0000

In reply to becky. I did it as prescribed below and this is what I got.

By: FooHawk

FooHawk — Wed, 27 May 2020 00:31:02 +0000

In reply to chrisneal. TNX!!

By: chrisneal

chrisneal — Tue, 26 May 2020 23:05:53 +0000

In reply to FooHawk. You're doing it the hard way. Just look at the list of stocks in your window on the right. It should show daily changes there. The measuring tool takes some getting used to.

By: rsotc

rsotc — Tue, 26 May 2020 19:43:25 +0000

In reply to tracyren98@hotmail.com. Breakdown on GLD following the divergent high with a min. pullback target around 158 although if my call for a 3-4% min. drop in the stock market from here until the end of the week pans out, gold could catch a flight-to-safety bid. See my reply to @becky above for my analysis on silver. Regarding GDX, if gold falls X, GDX will usually fall X & then some.

By: FooHawk

FooHawk — Tue, 26 May 2020 19:39:02 +0000

In reply to becky. Then I am not using my measurement correctly. ;-) I just tried the same tool on the SPY and it matched. I just started using tradeview, so maybe that is it.

By: rsotc

rsotc — Tue, 26 May 2020 19:37:46 +0000

In reply to becky.

So far, SLV failed on both attempts at that key 16.33 resistance level last week and made another run at it today with a fairly impulsive rejection once again so far today (daily chart below).
/SI silver futures already hit & bounced off that 17.258 target/support last week but looks to be heading there again following the bounce off that level. I still think silver has more downside potential than gold & while my convictions aren’t extremely high, I favor /SI going on to break below the 17.258 support & falling to the 16.53ish support & quite possibly the 15.98-15-84ish support zone. Let me review the charts of gold & follow up asap.

By: hafstjl06

hafstjl06 — Tue, 26 May 2020 19:17:01 +0000

In reply to korova. 1. You shouldn't be trading based on Randy's arrows. Those arrows are showing his opinion, not yours. IF the market goes in that direction, you can use his chart to find important reaction levels (support / resistance). 2. If you are losing "so much money holding index shorts", you are trading with too much money. You never trade more than you are willing to lose entirely. If you are losing sleep over how the market will open the next morning, your position size is too large.