Comments on: SPY At Support- Risk-Off Assets At Resistance- Gold Price Target Hit https://rightsideofthechart.com/spy-at-support-risk-off-assets-at-resistance-gold-price-target/ Stock Trading, Investing & Market Analysis Wed, 04 Dec 2019 13:44:42 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: heyheyhey https://rightsideofthechart.com/spy-at-support-risk-off-assets-at-resistance-gold-price-target/#comment-7841 Tue, 01 Oct 2019 18:37:13 +0000 https://rightsideofthechart.com/?p=193469#comment-7841 gap down tomorrow to make an island top maybe

]]> By: Sonelay https://rightsideofthechart.com/spy-at-support-risk-off-assets-at-resistance-gold-price-target/#comment-7840 Tue, 01 Oct 2019 17:41:50 +0000 https://rightsideofthechart.com/?p=193469#comment-7840 In reply to rsotc.

Spy belows Friday low but not QQQ.

]]> By: rsotc https://rightsideofthechart.com/spy-at-support-risk-off-assets-at-resistance-gold-price-target/#comment-7839 Tue, 01 Oct 2019 17:25:44 +0000 https://rightsideofthechart.com/?p=193469#comment-7839 No bounce of SPY 294 so far with gold, silver & the long-bond still just below those resistance levels following a slight reversal so far. Should the stock market fail to recover & hold above support soon, the risk-off assets are likely to take out those R level they hit earlier so watching to see if both QQQ & SPY can hold above or break below Friday’s lows as that has the potential to trigger sell signals with a break & solid close below the key uptrend lines off the Dec 24th lows.

It’s been a fairly orderly sell-off since the 10 a.m. reversal (so far) which still makes it anyone’s game as of now. Bulls need to step in here soon & rally the market higher while the bears need to continue to pull the indexes lower, especially below the bottom of the Aug trading ranges to get a real sell-off going. With the risk-off assets still below those resistance levels at the highs & SPY only slightly below 294, the odds for a late-session bounce are still fair IMO but the longer the indexes test those Dec 24th uptrend lines without an impulsive rally off them, the greater the odds those TL’s will soon break for good. QQQ & SOXS remain on standby for entries as official trades.

Side note: /NQ is currently testing the 7708 support level on the 60m chart with QQQ at the 187.37ish support on the 60m chart.

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