Comments on: QQQ & SPY Analysis & Near-term Outlook

By: joejoeheavy

joejoeheavy — Fri, 01 May 2020 17:54:14 +0000

Hey Randy, thanks again as always for your supports levels. I was in short today with TZA, thinking IWM and the Russell were making a larger percentage move than SPY. I covered a little early (my habit) for the full drop, but have since watched the IWM track along your 124.0 level. I remained amazed at your accuracy and have to remind myself to trust in “the force”.

By: GCTrade

GCTrade — Fri, 01 May 2020 17:02:45 +0000

I spent a lot of time analyzing and refining author Larry McMillan "Options as a Strategic Investment" $PCALL market signal. My refinement has shown itself to be a good go long/ go short signal. Today, it appears to be in confirmation with @rsotc on SPY and broad equity indexes. Good trading all. Keep up the good work. Thanks, Randy!

By: chrisneal

chrisneal — Fri, 01 May 2020 16:15:22 +0000

In reply to wilhud. And the fundamental story could be "Few are doing taxes or business these days, so there's low demand for Intuit software"

By: FooHawk

FooHawk — Fri, 01 May 2020 15:37:15 +0000

In reply to Imadaytr8r. Thanks!!

By: Imadaytr8r

Imadaytr8r — Fri, 01 May 2020 15:22:58 +0000

In reply to FooHawk. Yes, his chart from yesterday does show some minor resistance on the way back to 273 then lower ??

By: FooHawk

FooHawk — Fri, 01 May 2020 14:26:05 +0000

Whats the new price target for SPY if we break support here? Still 273?

By: dayoub

dayoub — Fri, 01 May 2020 14:23:05 +0000

In reply to rsotc.

thanks I am in like flint…….. : )

By: bigelephant

bigelephant — Fri, 01 May 2020 14:16:02 +0000

The question is will the gap be filled near (downside) 283.77(approx) on the SPY and then do they take it higher to fill the gap up to (upside) 293.11…….

By: ds2000

ds2000 — Fri, 01 May 2020 14:15:48 +0000

While we could be range bound for a few coming weeks, or even retrace back upwards somewhat, it goes without saying, this was a good week for sticking to your guns. I respect your convictions @rsotc and your patience.

By: Miked8124

Miked8124 — Fri, 01 May 2020 14:13:26 +0000

In reply to rsotc. thanks for the update.