Comments on: Mid-Session Technical Analysis 3-4-20

By: justinNIU06

justinNIU06 — Thu, 05 Mar 2020 02:17:13 +0000

Randy – What are your thoughts on the SPY making a bear flag? If it breaks the trend line of the flag it will go lower the length of the flagpole, which is around 260.

By: rsotc

rsotc — Wed, 04 Mar 2020 20:44:34 +0000

/ES took out that 3100 resistance level, although there is still 20-minutes to go before this 60-minute candle is finalized. If they continue to buy it into the close, the breakout would stick (while breakouts that occur shortly before the close are always suspect & run an increased chance of failing the next day). Should they dump it into the close & print the 60m back on or below 3100, that will just be another failed breakout of that level like yesterday’s rate-cut pop & drop.

By: Flanny3

Flanny3 — Wed, 04 Mar 2020 19:56:43 +0000

@rsotc looking at that spy chart, with PPO about to cross +, are you concerned about the IHS there with that resistance also being the neckline of that IHS? measured move about 26 handles up if it were to play out.-gets us into that big gap and near your top bounce target?

By: HS

HS — Wed, 04 Mar 2020 19:56:19 +0000

@rsotc Randy, do the latest charts on NQ/QQQ now provide any additional information (beyond what's in the video) that would be pertinent to the short trade? Thanks.