Comments on: SPY & QQQ Price Targets Hit

By: Rekar

Rekar — Wed, 25 Mar 2020 18:25:28 +0000

I was hoping you’d chime in with a short at this point, Randy cause my rules made me take a short at 2550.

By: jhanson313

jhanson313 — Wed, 25 Mar 2020 18:24:43 +0000

Where’s Randy? No updates in 4 hours on this wild day of 5%+ swings in both directions??

By: cityseeker

cityseeker — Wed, 25 Mar 2020 18:10:55 +0000

In reply to jhanson313. Can’t tell if it’s baked in yet or if that 2 - 3 million jobless claims will send panic back into the market.

By: cpva426

cpva426 — Wed, 25 Mar 2020 17:42:08 +0000

In reply to Miked8124. It kissed 183 and on it way to T3.. Thank you Randy. Your analysis is spot on.

By: Miked8124

Miked8124 — Wed, 25 Mar 2020 17:41:03 +0000

In reply to cityseeker. all numbers will be bad that's old news...

By: Miked8124

Miked8124 — Wed, 25 Mar 2020 17:37:34 +0000

Hi Randy are we on our way to t3 qqq?

By: jhanson313

jhanson313 — Wed, 25 Mar 2020 17:35:05 +0000

In reply to cityseeker. There's a jobless claims number at 7:30am ET, but thats not the unemployment numbers. Those come out the first Friday of every month at 7:30am

By: cityseeker

cityseeker — Wed, 25 Mar 2020 16:06:17 +0000

In reply to rsotc. Is tommorow morning the unemployment numbers? I don’t want to be long for that regardless of the technicals.

By: Bear trap Dan

Bear trap Dan — Wed, 25 Mar 2020 14:14:22 +0000

In reply to Pbathula. Shorted spy at 250. Ty, Randy!

By: rsotc

rsotc — Wed, 25 Mar 2020 14:14:17 +0000

I had inadvertently posted the following under today’s earlier post while it was intended to be posted here below this post:

I’m sure it goes without saying but pop into these resistance/target levels followed by the reversals (so far) meshed with my pre-market analysis with a little more upside followed by a reversal in the stock futures: https://rightsideofthechart.com/technical-analysis-continues-to-work-like-a-charm/

Of course, the question now is: How far to these pullbacks go? The answer is that I’m not sure at this time although active traders that reversed from long to short at those targets could either book the quick profits (QQQ has already dropped 3.25% so far) or trail down stops to allow for a potential runner trade. QQQ also had decent support around 179 (top of yesterday’s gap) which could serve as a pullback target as well.