Comments on: QQQ Hit & Bounces Of Trendline Target, Approaching Resistance 5-31-24

By: rsotc

rsotc — Mon, 03 Jun 2024 16:53:10 +0000

In reply to Pokey2014. Will do.

By: Imadaytr8r

Imadaytr8r — Mon, 03 Jun 2024 13:17:10 +0000

In reply to trade0039. The Q’s are currently above the downtrend line intersecting resistance of 452.53. It’s at 453.83 30 minutes before the open. If it bounces off 452.53 with vigor and screams toward a new ATH then I’d agree with you! If it collapses back down below 452.53 then the next potential stop would be 444.60 (next downtrend line). Since none of us know the future I’d say it’s poised to do one or the other. Therefore I will place my Batman Butterflys accordingly! THANKS again Randy for sharing with us your clear and concise charting prowess leaving us to make our own investing decisions!

By: trade0039

trade0039 — Mon, 03 Jun 2024 00:32:27 +0000

I think ES and NQ are poised to go higher from here!

By: Pokey2014

Pokey2014 — Sat, 01 Jun 2024 19:24:21 +0000

@rsotc how did the monthly candle look for May? Can you cover it in your next video please?

By: Imadaytr8r

Imadaytr8r — Sat, 01 Jun 2024 13:03:43 +0000

That was some bounce Friday afternoon! I bought a 1-DTE Expiring Monday (technically 3-DTE because decay still takes place on the weekend) SPX 5305 strike 10-wide CALL Butterfly for $95 not 2 min before the bounce. Sold it 15 minutes later for $330!!! 2.5x profit in 15 minutes! Talk about luck! It usually doesn’t go my way like that! I’ve had a great week trading off your levels!!! Thanks for all your hard work and analysis! Now, if you could only tell me where the market will close on Monday! LOL

By: rsotc

rsotc — Fri, 31 May 2024 20:49:04 +0000

…of course, meant to say: To be continued Monday (or Sunday evening for /NQ), not tomorrow.