Comments on: SPY Price Targets & Sector Analysis

By: Dean Drummond

Dean Drummond — Fri, 30 Jun 2017 17:34:24 +0000

In reply to lverne. You're most welcome & thank you.

By: Dean Drummond

Dean Drummond — Fri, 30 Jun 2017 17:31:42 +0000

In reply to hovincent123. As that trendline has a positive slope (up-sloping), the values change every day. The scenario that I drew with the yellow dashed lines assumes that SPY breaks below the 230.40ish support level soon. If that does occur within the next few trading sessions, then SPY would likely hit that uptrend line around the 236.15 level but that's just my best guesstimate. As I'm on vacation & only checking in on the markets periodically & sporadically throughout the day, I might not be in front of my computer when that trendline in order to post it here. However, I will let you know if I am online when/if that happens. If the SPY does move lower to hit that uptrend line soon AND if it bounces off the initial tag, as I suspect it will, I think there is a good chance that the bounce/retrace will take it back up to around that 240.30ish support level (which will become resistance if prices move below it).

By: lverne

lverne — Fri, 30 Jun 2017 01:48:41 +0000

Thanks again Randy. You have a truly outstanding site with some of the most skillful TA I have seen in some time. Planning to stick around. :)

By: hovincent123

hovincent123 — Fri, 30 Jun 2017 00:42:12 +0000

Randy, Thank you . On the SPX, the yellow line that think where it will drop to your targets I noticed it will hit your Trend line and retrace abit back before heading to your final target. Would you pls let me know what is value when it hits your trend line before the retrace and what is the value it will retrace to before it heads down to your final target be it the minimum or potential T2. Thankyou

By: joefriday

joefriday — Thu, 29 Jun 2017 22:08:18 +0000

Nice review and nice calls on QQQ and SPY!