Comments on: Mid-Session Technical Analysis 4-29-20 https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/ Stock Trading, Investing & Market Analysis Mon, 04 Oct 2021 18:59:27 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Risto09 https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17185 Thu, 30 Apr 2020 13:05:44 +0000 https://rightsideofthechart.com/?p=199665#comment-17185 Hi Randy,

Anyway to look at GLD and DXY. Looks like consolidation for GLD and a possible breakdown in DXY. Please let me know your thoughts?
Thanks again for the hard work!!!! Cheers

]]> By: GCTrade https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17168 Thu, 30 Apr 2020 03:12:54 +0000 https://rightsideofthechart.com/?p=199665#comment-17168 In reply to GCTrade.

Update: “On Monday, the USO crashed oil markets again, after it said it planned to sell off all of its WTI contracts for June delivery—that’s all its front-month contracts. Instead, the fund will now focus on futures contracts that are further out. The USO’s breakdown will now be comprised of 30% in the July contract, 15% each in the August, September, October, and December contracts, and 10% in the June 2021 contract.” https://oilprice.com/Latest-Energy-News/World-News/The-Worlds-Largest-Oil-Fund-Is-Sitting-On-725-Million-In-Unrealized-Losses.html

]]> By: GCTrade https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17149 Wed, 29 Apr 2020 23:38:13 +0000 https://rightsideofthechart.com/?p=199665#comment-17149 To @rsotc comment wondering why USO didn’t seem to perform since the reverse split. Due to the recent volatility of the front month contract, the funds allocation is now 20% June, 40% July, and 20% August contracts. So, with more farther out month contracts, it will mute tracking of the front month price changes. To find daily holdings: http://www.uscfinvestments.com/holdings/uso

]]> By: bransth https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17118 Wed, 29 Apr 2020 20:39:47 +0000 https://rightsideofthechart.com/?p=199665#comment-17118 Microsoft, Tesla, and Facebook all shooting up. Bears getting killed.

]]> By: bransth https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17112 Wed, 29 Apr 2020 20:25:05 +0000 https://rightsideofthechart.com/?p=199665#comment-17112 In reply to Lake4.

Randy said a couple of videos ago that contrary to what most people believe, gold and equities don’t have a direct, inverse relationship.

]]> By: bransth https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17111 Wed, 29 Apr 2020 20:24:00 +0000 https://rightsideofthechart.com/?p=199665#comment-17111 In reply to wilhud.

The United Nations is shady as f*&*k.

]]> By: wilhud https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17105 Wed, 29 Apr 2020 20:02:08 +0000 https://rightsideofthechart.com/?p=199665#comment-17105 In reply to Lake4.

More likely associated with a weaker USD today.

]]> By: Lake4 https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17104 Wed, 29 Apr 2020 19:48:44 +0000 https://rightsideofthechart.com/?p=199665#comment-17104 So, Gold is rallying above 1728 resistance. Does that mean equities will sell off soon ?

]]> By: wilhud https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17103 Wed, 29 Apr 2020 19:47:17 +0000 https://rightsideofthechart.com/?p=199665#comment-17103 Gold catching a decent bid just now (and silver.) Fundamentals lining up for a reverse Oil situation where those asking for physical delivery cannot get it ?
Apparently.
EXCLUSIVE-VENEZUELA ASKS BANK OF ENGLAND TO SELL PART OF ITS GOLD TO UNITED NATIONS FOR CORONAVIRUS RELIEF – SOURCES
Scotiabank to close its metals business, drawing the curtain on one of the most venerable names in precious metals (#gold, #silver) trading – sources https://reut.rs/2W2Bl0O via
@Reuters

]]> By: Gambler https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17102 Wed, 29 Apr 2020 19:40:59 +0000 https://rightsideofthechart.com/?p=199665#comment-17102 In reply to Dbat83.

This what happen once we follow Randy !

]]> By: chrisneal https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17101 Wed, 29 Apr 2020 19:35:20 +0000 https://rightsideofthechart.com/?p=199665#comment-17101 In reply to Reddington.

That looks like an objective idea to me. IWM is back testing this trend line from 2009

]]> By: Dbat83 https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17100 Wed, 29 Apr 2020 19:34:13 +0000 https://rightsideofthechart.com/?p=199665#comment-17100 Wow /nq Above 9k

]]> By: czekboi https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17099 Wed, 29 Apr 2020 19:34:12 +0000 https://rightsideofthechart.com/?p=199665#comment-17099 It feels like talking to my 11 year old. There is no communication only argument and tantrums

]]> By: tslamoon2022 https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17098 Wed, 29 Apr 2020 19:31:35 +0000 https://rightsideofthechart.com/?p=199665#comment-17098 Jeebus H Cripes. Looks like they are trying to take out 61.8 and 200EMA. RIP my account if this sticks. How large of a salt grain do I need to swallow here?

]]> By: Dbat83 https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17095 Wed, 29 Apr 2020 19:22:12 +0000 https://rightsideofthechart.com/?p=199665#comment-17095 In reply to Imadaytr8r.

They’re trying to create optimism and not more cause panic

]]> By: vikingwrath https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17094 Wed, 29 Apr 2020 19:06:21 +0000 https://rightsideofthechart.com/?p=199665#comment-17094 In reply to bransth.

Are you sure they’re mostly bullish? If you get laid off from your job and you’re on unemployment, trying to trade the market, do you think you’d have a positive bias for the market?
I know I would be thinking negatively…but idk, maybe most people are super bullish on the economy when they get laid off…

]]> By: Imadaytr8r https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17093 Wed, 29 Apr 2020 19:04:08 +0000 https://rightsideofthechart.com/?p=199665#comment-17093 I’m amazed traders are lending a blind eye to all the negative stuff the FED report acknowledged going forward and seems to put all confidence in the “tools” the Fed has in order to dodge the bullet they see coming! Nobody really knows if those tools will in fact work! It’s like they’re the Orchestra that keeps on playing as the dang Titanic continues to list as we take on water! Bazaar to say the least!

]]> By: bransth https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17092 Wed, 29 Apr 2020 18:55:16 +0000 https://rightsideofthechart.com/?p=199665#comment-17092 The volume of new traders is shocking. If the number of new traders has tripled and they’re mostly bullish, it would seem they could carry the market pretty high (especially with unprecedented fed & government action).
The reactions on public forums after AMD’s earnings were crazy. These are true bulls. Full speed ahead…..complete boom or bust mentality. There could be some truly massive red candles coming.

]]> By: Reddington https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17091 Wed, 29 Apr 2020 18:53:47 +0000 https://rightsideofthechart.com/?p=199665#comment-17091 What about short caps IWM?

]]> By: jorgemmc https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17090 Wed, 29 Apr 2020 18:45:59 +0000 https://rightsideofthechart.com/?p=199665#comment-17090 In reply to Imadaytr8r.

Hi, it’s because of the time decay. Leveraged ETFs tend to drift lower as time goes by.

]]> By: Pbathula https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17089 Wed, 29 Apr 2020 18:29:25 +0000 https://rightsideofthechart.com/?p=199665#comment-17089 Not good!

]]> By: pmtob https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17088 Wed, 29 Apr 2020 18:17:13 +0000 https://rightsideofthechart.com/?p=199665#comment-17088 In reply to nostaticatall.

Great word – That describes how I’m feeling. Not sure I’m enjoying it that much anymore though haha

]]> By: gmatache https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17087 Wed, 29 Apr 2020 18:15:06 +0000 https://rightsideofthechart.com/?p=199665#comment-17087 In reply to nostaticatall.

+1 SNAFU

]]> By: Imadaytr8r https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17086 Wed, 29 Apr 2020 18:13:41 +0000 https://rightsideofthechart.com/?p=199665#comment-17086 Hey Randy, I have a question … why was SQQQ hitting all time lows when QQQ was not at all time highs. I thought that to be odd so I started scaling back into SQQQ at the all time low because I saw it as an overshoot. Please advise. Thanks

]]> By: nostaticatall https://rightsideofthechart.com/mid-session-technical-analysis-4-29-20/#comment-17085 Wed, 29 Apr 2020 18:03:12 +0000 https://rightsideofthechart.com/?p=199665#comment-17085 Unflappable.

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