Comments on: Late-Session Technical Analysis 10-30-19

By: rsotc

rsotc — Thu, 31 Oct 2019 13:08:16 +0000

In reply to kensanlb.

Agreed. In fact, I’ve discussed that in one or more of the videos & posts over the past several weeks since I started highlighting those bullish developments on Treasury bonds (that a rally in T-bonds, while stock continue to rise, is often red flag as it is indicative of institutions (the ‘smart money’) moving out of stocks & into T-bonds in anticipation of a correction in the stock market.) As far as the timing of if & when a correction starts, we’ll have to let the charts of the stock indices be our guide as divergences between Treasuries & stocks can last anywhere from days, weeks & even months before equities correct & even then, it is not a 100% effective signal.

By: chuynh88

chuynh88 — Thu, 31 Oct 2019 00:28:21 +0000

@rsotc Hi Randy, can you give me your thoughts on XOP, does the chart still look interesting to you? I see an unconfirmed bearish engulfing candle in the one daily chart. Thanks

By: kensanlb

kensanlb — Wed, 30 Oct 2019 20:56:51 +0000

Randy, what do you think of the divergence between the bonds/notes versus the broad indexes. After the FOMC today, the markets decided to go higher yet, bonds and gold didn’t go down. I’m remember you talked about bond/notes market usually more correct than the equities when there is a divergence. My thinking is that the bonds/notes markets are anticipating a market correction soon, (1-2 days)
What do you think?

By: rsotc

rsotc — Wed, 30 Oct 2019 20:09:13 +0000

In reply to rsotc. Target hit, /NQ closed out. Will let the dust setting following the conf. calls for AAPL & FB & then look for the next objective entry, long or short.

By: rsotc

rsotc — Wed, 30 Oct 2019 19:30:44 +0000

In reply to rsotc. Decided that I will close out my remaining /NQ long just below the 8113.50ish R level, if hit today or no later than shortly after the close if not.

By: stock51

stock51 — Wed, 30 Oct 2019 19:27:13 +0000

Thank you

By: rsotc

rsotc — Wed, 30 Oct 2019 19:24:47 +0000

Downtrend line minimum bounce target hit. Closed 1/2 of /NQ long & will trail up stops on the remaining lot for now although still undecided on whether I want to gamble holding an /NQ position into AAPL & FB earnings.