Comments on: /NQ & /RTY 60m Futures Charts 5-26-26

By: rsotc

rsotc — Wed, 27 May 2026 15:27:37 +0000

Semis are certainly doing their thing & a decent part of that spills over into some related tech sub-sectors, which then helps provide a tailwind to the broad market. However, semis can only carry the broad market so far without the rest of the lot (other sectors) joining in on the party.

As of now, we still have negative divergences on all the key timeframes that I monitor for both swing & trend trading (60-minute, daily, weekly, & monthly charts) on the broad market (S&P 500).

Remember, the Nasdaq 100 trades more like a tech ETF (XLK) than a diversified index such as the S&P 500, Mid-cap 400, or R2K, due to its overconcentration in tech (over 50%) and the fact that it doesn’t include stocks in other key sectors such as financials.

With each tick higher, the R/R on buying (opening new or adding to existing semi positions) continues to degrade rapidly, IMO. That train has left the station & the bigger profits, from here, will be to catch it on the downside, once the flows reverse, vs joining the party at this point, IMHO.

By: MoNorth

MoNorth — Wed, 27 May 2026 14:45:05 +0000

In reply to rsotc.

Thank you for this timely update! Hope yiu have time to update SOXX targets and related price movements, thanks!

By: rsotc

rsotc — Wed, 27 May 2026 14:37:57 +0000

In reply to rugiii.

/CL just hit my 87.88 target today (Wed morning). I decided to cover the short there as the odds for a bounce are decent, but I wouldn’t be surprised if it drifts a hair lower to my next target of 86 before bouncing.

If so, potential bounce targets are the downtrend line off the recent highs and/or the 94ish resistance level just above it. Here’s the 60m chart I posted earlier today.

By: Beantowndoc

Beantowndoc — Wed, 27 May 2026 09:54:17 +0000

Hi Randy, with the Semis driving everything with no end in sight ( pumping by a single analysis pushing MU to the moon), are we looking at an anomalous divergence situation in the other indexes? When MU is cooling, another comment will fuel the semis. One day it will break, but with capex being what it is, even war, inflation, and Ebola aren’t un – nerving it.

By: rugiii

rugiii — Tue, 26 May 2026 23:01:20 +0000

Hi Randy, Are you still in CL short? My analysis says one more flush by Friday, so down side on this move is not done yet.

By: rsotc

rsotc — Tue, 26 May 2026 15:22:07 +0000

In reply to Cautious1.

Benefit of the doubt. When I have a support level (or resistance level, for long trades) very close to a support (or resistance) level that will trigger a sell (buy) signal, I will often give it the benefit of the doubt, waiting for the second (lower) nearby support level to break before shorting or maybe only take a starter position on the break of the first support level, adding to a full position once the second, or BOD, support level is taken out, in case the buyers step in at that second/BOD support.

By: rsotc

rsotc — Tue, 26 May 2026 15:19:02 +0000

IWM sell signal to come on a break below this minor uptrend line on the 60-minute chart below. Note: The price targets on IWM don’t align with those on QQQ, as the QQQ targets are the same as the previously/recently posted 60-minute charts from last week.

By: rsotc

rsotc — Tue, 26 May 2026 15:17:39 +0000

QQQ sell signal to come on a solid break below the intersecting uptrend line & 722ish minor support on the 60-minute chart below.

By: Dkpdkp

Dkpdkp — Tue, 26 May 2026 15:15:25 +0000

In reply to Cautious1.

Benefit of doubt

By: Cautious1

Cautious1 — Tue, 26 May 2026 15:10:28 +0000

BOD?? What does that stand for again?