Comments on: Market Analysis & Trade Ideas 1-20-23 https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/ Stock Trading, Investing & Market Analysis Mon, 23 Jan 2023 14:41:07 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Mikeflegel https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26046 Mon, 23 Jan 2023 14:41:07 +0000 https://rightsideofthechart.com/?p=210305#comment-26046 I’m sure other people have the same question are we still in a objective short for the NQQQ

]]> By: HermonMunster https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26045 Mon, 23 Jan 2023 01:15:37 +0000 https://rightsideofthechart.com/?p=210305#comment-26045 In reply to Ahmar1977.

futures have opened 6-7% higher. Could be a big week for natural gas. if the prices hold to through the open, I’m selling half my shares in UNG. My final target is about $12.

]]> By: Ahmar1977 https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26043 Sun, 22 Jan 2023 15:51:01 +0000 https://rightsideofthechart.com/?p=210305#comment-26043 In reply to HermonMunster.

The number I’m looking at is 2.79

]]> By: HermonMunster https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26042 Sat, 21 Jan 2023 19:57:52 +0000 https://rightsideofthechart.com/?p=210305#comment-26042 In reply to HermonMunster.

there is a trendline from August 2022 that would be hit around $3.00 for NG. Only about 4.2% away

https://i.imgur.com/LxkWZv4.jpg

]]> By: HermonMunster https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26041 Sat, 21 Jan 2023 19:35:53 +0000 https://rightsideofthechart.com/?p=210305#comment-26041 In reply to rivest.

The the speed and magnitude of the drop in NG hasn’t happened in the last 20 years. We have to remember that the Russia Ukraine war was a shock to the market. If you look at the weekly chart, it seems as though the price is heading down to the pre-invasion levels. That would be about a 20% drop from now to around $2.44. To recover the trendline around 3.63, we need a 15% gain.

https://i.imgur.com/RZkV74Q.jpg

We could have a rally next week, but I wouldn’t be surprised if we see the price eventually work it’s way back down to pre-war levels. There are snowstorms coming to the northeast mid-week that could bump the price of gas, depending on their severity.

I’m only underwater 3.70% at the moment, but I won’t be adding anymore in the short term. There are too many other opportunities in the market to stay with a commodity with such wild swings.

best of luck

]]> By: rivest https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26040 Sat, 21 Jan 2023 07:51:21 +0000 https://rightsideofthechart.com/?p=210305#comment-26040 Hi Randy, 
Can you give me any opinion about natural gas ie. NGH23

Thanks for your help

]]> By: yahoo https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26039 Sat, 21 Jan 2023 06:37:57 +0000 https://rightsideofthechart.com/?p=210305#comment-26039 I just noticed SPY will have golden cross daily time frame (i.e. 50-day moving above 200-day) in a few days. Golden cross or death cross are hit or miss but unfortunately it appears to be favoring the pattern this time.

]]> By: Mikeflegel https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26038 Sat, 21 Jan 2023 00:59:49 +0000 https://rightsideofthechart.com/?p=210305#comment-26038 In reply to Mikeflegel.

I wanted to know if that was still in place but I guess it’s too late for After hour

]]> By: Mikeflegel https://rightsideofthechart.com/market-analysis-trade-ideas-1-20-23/#comment-26037 Fri, 20 Jan 2023 21:04:56 +0000 https://rightsideofthechart.com/?p=210305#comment-26037 Randy , At roughly just before 10 Eastern this morning you have a objective short. Could you explain please what happened to that. Thank you

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