Comments on: /NQ & QQQ Remain Above Price Targets/Support 7-26-24

By: Heinz

Heinz — Fri, 26 Jul 2024 17:03:21 +0000

Randy, can we also get an update on IWM, it is a hair’s breadth from its July high.

By: MagStew17

MagStew17 — Fri, 26 Jul 2024 16:41:46 +0000

Will Nat Gas hold $2, or look to fill that massive gap; $1.909 to $1.675

By: Mikeflegel

Mikeflegel — Fri, 26 Jul 2024 16:39:27 +0000

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By: Beljrc

Beljrc — Fri, 26 Jul 2024 16:33:58 +0000

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By: stockninja

stockninja — Fri, 26 Jul 2024 16:31:15 +0000

For those of you still doubting this site…..here’s my daily chart of my account today. I trade options. High risk, high reward/loss options. This site gives me a view of levels for QQQ, SPY, stocks, etc. that I dont have time to research nor chart. @randy ‘s analysis atleast gives me somewhat of a plan on where the market is going. Therefore it gives me somewhat of a chance against these institutional traders. My other technique was to go by “feel” as many of us retail traders do and so many times this morning I felt like the market was “heavy” and that it would sell off. But sticking to the plan of a rally, it worked out. Atleast 3 times I talked myself out of selling at lows of my account because my swings in the value of my account are big enough for me to feel. Give yourselves a chance and just use this site as part of a tool to your strategies. Especially in these times where volatility is high, a lot of traders will sell out of fear or buy out of FOMO. That will explode accounts fast…..trust me we’ve all exploded accounts. Follow the levels, respect divergences and trendlines, and stick to a plan. Ride out the bounces and dips and manage profits. Good luck to everyone and if you’re one that talk sh*t on this site, as mentioned before, go follow those day traders on Tik Tok and see how you do.

By: KevinK

KevinK — Fri, 26 Jul 2024 16:04:32 +0000

Possible big moves in the market next week.
Wednesday JP flaps his gums. Unless they lower interest rates, it’s a nonevent.
But earnings next week….
Tuesday…AMD and Microsoft
Wednesday… Meta
Thursday… Apple and Amazon
Randy, stay short, or wait and watch ?

By: stockninja

stockninja — Fri, 26 Jul 2024 14:11:05 +0000

In reply to stockninja.

This drop should lure in enough shorts as I wouldve started to short now. Lets see if we rally from here.

By: rsotc

rsotc — Fri, 26 Jul 2024 14:10:23 +0000

In reply to Alan.

We’ll that’s 11 (12 with IWM) opinions with different technicals/outlooks on each but for the most part, the biggest & most important sectors (top weighted in SPX) appear to be headed much lower in the coming months+, some already broken down (XLK), some not yet but poised to with many of the top sectors currently testing pretty significant support (price and/or trendline), just as with SPY & QQQ.

As such, I’m looking for & positioned for a counter-trend bounce & then back to swing short positions although willing to reverse back to short if I see most of those support levels clearly taken out today or early next week. I’ll cover the SPX sectors in a video asap.

By: rsotc

rsotc — Fri, 26 Jul 2024 14:00:33 +0000

For you /ES (S&P 500 futures) or SPY traders, /ES offered & would still offer an objective long entry at the 5441 price target/support as well as on a break above this minor downtrend line +5491ish resistance on this 60-minute chart while a break above those intersecting resistance levels would also increase the odds that /NQ & QQQ will hit my minimum bounce target today.
Cuts both ways, of course, where solid breaks, especially on a daily closing basis for the key supports/price targets that /ES, /NQ, QQQ, etc.. hit yesterday are clearly taken out.

By: Alan

Alan — Fri, 26 Jul 2024 13:54:42 +0000

@ROTC, Randy what is your take on the 11 S&P sectors and the IWM? A few of them are rallying nicely while the Nasdaq falls. Will they continue as the Q’s fall? Healthcare, staples, RE, and XLI have been doing nicely.