IWM (Russell 2k) chart not as clear as the NDX or even SPX to me at this time. Plus, the Fed will most likely continue to take any measures possible to shore up the regional banks (KRE) & that sector has a big weighting in the R2K. The top 6 stocks in the NDX have the most hot air right now so watching those primary uptrend lines & price support levels which they are sitting just above right now closely for sell signals.

Broad market is basically flat since the Fed announcement & press conf. Initially dropped, then bounced now $SPX is up a mere 1/2% from where it was before the 2pm announcement so I wouldn’t try and read anything into the market’s reaction, at least not at this time as it is essentially flat.

The Fed doesn’t have a clue what they will be doing with rates going forward, despite what they say (their forecasting abilities are widely know to be nothing short of abysmal). They will hold, cut, or hike going fwd depending on how hot or cold inflation runs plus or minus any shocks/problems with the financial system at the time (or lack thereof).

I certainly have my views on the macro/fundamental outlook for the US & it does play into my long-term analysis but the charts (technicals) have always been a much more accurate predictor of where prices are headed in the near-term (days, weeks, & months) than the fundamentals. Right now, watching those key support levels on the top 6 tech stocks to confirm those sell signals which appear likely to trigger soon.

please be pa·tient…you have one…. buy the dip….will not last long

Screen shot below…

Another trade is about to trigger on SPY which is Short SPY if it break 438.6 level (15 minute candle) with RR 1:3

Exactly right.
All I’m hearing is that this rally can’t last, a 5-10% correction will be healthy, RSI’s are way too high, the big stocks are way overbought, market breath is abysmal, the small concentration of stocks leading the market is not healthy, and on and on.
It all adds up to….when everyone is telling you the market has to go down…the market is going to go up.

So far, this week I took only 1 trade on QQQ which was yesterday and closed today.
Last week 3 trade and all 3 trades were green.

Remember all the trade should have RR 1:2

Long QQQ at 362.25; SL at 360.45 and Target at 366.10

I suggest you find An investment money manager. Do not try this on your own you’ve got a life ahead

Also, you might want to include the list of stocks that are in play like

Buy/Sell Status
BYND Buy Open
GE Sell SL Hit
NVDA Sell Sell
META Sell Waiting for solid Trendline Break

Something like this. Its just an example and I think you can do whole lot better than me!

I clearly remember you saying last year of October that the market could bounce from here but you also said your preferred outlook is market tanking sharply from this point.

I think you can post something like this shown below in your site.

Short Term Mid Term Long Term
QQQ Sell Sell Hold
SPY Sell Hold Buy

Just an example because we are getting mixed message from your videos.

thanks for the video. One of the main reasons for some pessimism in your board is it is not very clear to us when you actually short and if the trade goes against you, when do you cover to cut loss. Because if the trade works after a divergent high, you kind of talk about how much money we could have made. But if the trade does not work, then we have no idea when to cover because the divergent high is still in place.

So what will help newbies like me is for you to be a little bit more transparent with those of us who are paid members of this service. Atleast that is my expectation !

Thanks Scott. Great observation

I’ve said this over and over the past several years in the chatroom. You MUST look at divergences and trends on BOTH the top AND bottom side of the indicator.

The NQ daily chart has had numerous divergent highs over this run but NOT A SINGLE sell signal on the bottom side.

In other words, we have had signals for minor pullbacks but not one signal on the bottom side that the bullish trend has changed. If you’re only looking at the top side of the indicator, then you’re getting half of the story.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-72472700-1686784224_indididica.png

He doesn’t trade the small monthly or quarterly bull – bear cycles.. He’s going for the multi decade bear market that will make all his subscribers millionaires… In this life or the next.. or until hell freezes over!

Sorry, am being a little impertinent. But his short opportunity trigger during the FOMC announcement really rubbed me the wrong way.. of course I didn’t take the trade..I even commented on its futility on that post. But who calls for a trade in between FOMC?? Even in my most novice days trading I knew better. I apologize for my rudeness towards him though.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-21868200-1686780195_mostl8ts8ts.png

The chart of the Stages of a Bubble shown in a video earlier today misses the mark. I believe the one I’ve attached here is more accurate, as the state of mind of everybody I hear and see in the world of finance is one of “Disbelief.” Notice that particular state of mind is at the beginning of bull-run.

* not jumping at every imaginary short….

Lol am sure he did.. That too a “full unhedged” short which he exited at the right time. After all they don’t call him the market whisperer for nothing.

Agreed.. So tired of the short QQQ trades incessantly. He thinks it’s come up so much so quick it’s gotta reverse.. that’s not a trading strategy! It will change trend when it changes trend! We can go short then. Trading experience is recognizing when that has happened, jumping at every imaginary short opportunity not only to get stopped out, but also to miss the whole move up. And he calls himself a trader!