Comments on: SPY & /ES At Resistance, Pullback Likely

By: Mikeflegel

Mikeflegel — Mon, 27 Feb 2023 18:43:04 +0000

In reply to rsotc. Randy, When you issue a short and reverse like here is it possible to tell us of the reversal?

By: jmccallum

jmccallum — Mon, 27 Feb 2023 18:04:22 +0000

Thanks for the charts on JNJ. i thought they would join all the shot makers and die a deserving death here. the charts of MRNA, PFE, MRK, LLY, NVAX, GSK and JNJ all look terribly unhealthy. I see the positive divergences and the oversold nature of the stocks but maybe they just burn right through it all while they get cut in half

By: rsotc

rsotc — Mon, 27 Feb 2023 16:40:57 +0000

In reply to Jspassar767. Will do asap

By: rsotc

rsotc — Mon, 27 Feb 2023 16:40:06 +0000

As I continue to favor actively trading as the market continues to grind around, I just covered the /NQ short I reversed into when /ES & SPY hit resistance at the highs earlier today & reversing back to long for a quick bounce trade here at uptrend line support. 15-minute chart:

By: trade0039

trade0039 — Mon, 27 Feb 2023 16:08:46 +0000

In reply to rsotc. Similar setup for DPZ, which is at strong support but I don't see divergence on hourly here!

By: rsotc

rsotc — Mon, 27 Feb 2023 15:55:28 +0000

In reply to trade0039. I agree 100%. I've had a downside target of 155.85 on JNJ for a while & that's very good support where, at minimum, a tradable bounce is likely unless the stock market melts down soon.

By: Jspassar767

Jspassar767 — Mon, 27 Feb 2023 15:54:50 +0000

Randy hoping you will do a commodity update video as promised on Friday. Looking for WEAT update please as well as some others. thanks

By: trade0039

trade0039 — Mon, 27 Feb 2023 15:35:29 +0000

Just scanning from my Watchlist and found one good trade setup that provide 1:5 RR

Daily and hourly chart for JNJ below:-