Comments on: /NQ Nasdaq 100 Futures 6th Price Target Hit 8-5-24

By: rsotc

rsotc — Mon, 05 Aug 2024 15:22:06 +0000

In reply to Dkpdkp.

Someone asked my thoughts on the PMs under the previous post & I just don’t have much of an opinion on the near-term direction for the metals right now. Plus, I’m hyper-focused on the stock market & related stocks/sectors right now: https://rightsideofthechart.com/qqq-spy-nvda-all-hit-next-l-t-price-targets-8-5-24/#comment-33150

By: Dkpdkp

Dkpdkp — Mon, 05 Aug 2024 14:26:14 +0000

Hello Randy- can you pls update the PMs & GDX?Thx!

By: stockninja

stockninja — Mon, 05 Aug 2024 14:23:54 +0000

I’ll raise my hand and humbly say I have absolutely no clue how to trade this damn market today.

By: rsotc

rsotc — Mon, 05 Aug 2024 14:21:49 +0000

In reply to EMFO. Here are my 120-min (2-hr candles) & daily chart for /RTY. Personally, I favor /NQ (or QQQ) over the smallies as longs right now & I also don't have as good a read on the near-term direction for IWM/RTY. I get the whole "rate cut is coming, small-caps should benefit" thing but... A) I think most or all of that was already priced in and B) Recessions tend to hurt small-caps more than large-caps & as I've been emphatically saying, a recession IS coming & is coming SOONER than the bobble-heads on TV say it is. JMHO, of course.

By: Alan

Alan — Mon, 05 Aug 2024 14:17:35 +0000

In reply to TJS. Same. I cannot trade!!!!!

By: TJS

TJS — Mon, 05 Aug 2024 13:58:20 +0000

Thinkorswim, Schwab and Fidelity are having issues. Good luck with your positions today.

By: EMFO

EMFO — Mon, 05 Aug 2024 13:46:07 +0000

@rsotc Thanks Randy, please post a still chart on the RTY also. Thanks