Comments on: QQQ, SPY & IWM Charts, Tech Doing The Heavy Lifting

By: preston_peck

preston_peck — Fri, 03 Jan 2020 00:41:02 +0000

how much weight do you put on the gap-filling theory that this breakout has a lot of “unfinished business” and will likely enter and fill the gap sooner than later

By: rsotc

rsotc — Thu, 02 Jan 2020 20:45:24 +0000

In reply to Hoperush.

I’m still short the Q’s & small caps. I’d like to be able to hold both into the start of next week & while the Russell 2k short is green today (small caps trading red) & still looks fine, I’m concerned that if $NDX moves much higher, maybe as little as 2% although hard to say exactly how much, the negative divergences could be “negated” or taken out.

As such, since I’ll be at my desk all day tomorrow, I’ll make a decision on whether or not to hold or fold that position & possibly the /RTY short, depending on what the both large-caps and small-caps both do tomorrow.

By: Hoperush

Hoperush — Thu, 02 Jan 2020 17:33:16 +0000

In reply to Foreverlearning. Does rsotc still hold the index short positions or covered ? The QQQ back above the bear flag breakdown candle today , is anyone still holding the Short position on NQ or QQQ?

By: Foreverlearning

Foreverlearning — Thu, 02 Jan 2020 15:57:32 +0000

The media also did a HUGE amount of Tech buying shows, so my bet is the laymen saw 1st day of 2020 as buying OPP and big fish are selling off.

By: Foreverlearning

Foreverlearning — Thu, 02 Jan 2020 15:24:19 +0000

XBI also down significantly and lead to the downside last week as well.

By: pbwilli37

pbwilli37 — Thu, 02 Jan 2020 15:23:13 +0000

The Russel is moving the opposite direction and the vix is moving up with the markets up.