Comments on: SPY & QQQ Testing Thursday’s Key Gaps

By: 4711

4711 — Tue, 16 Jun 2020 17:18:48 +0000

highs still possible

By: rparksd1963

rparksd1963 — Tue, 16 Jun 2020 17:11:22 +0000

In reply to Action_Jackson. That's why there is a saying DONT FIGHT THE FED that everyone knows including Randy.

By: Rekar

Rekar — Tue, 16 Jun 2020 15:50:35 +0000

I don’t know what to call this market but one thing I do know is that it isn’t a bull market. The vol is way too high. Fortunately, I’m long vol and simply sitting back waiting for this thing to tear itself apart.

By: rsotc

rsotc — Tue, 16 Jun 2020 15:14:26 +0000

/NQ sell signal triggered on the trendline break with a drop to my initial target (as per the video soon to be published) followed by the typical bounce off the initial tag of that level so far. Next objective short entry on a bounce back to just below the 9917 resistance and/or a break below the 9794 support.

By: rparksd1963

rparksd1963 — Tue, 16 Jun 2020 14:59:23 +0000

In reply to crlists13. I know it wasn't sarcasm not was my reply. He mentioned bear market rally last week in the face of a NASDAQ ath.

By: dayoub

dayoub — Tue, 16 Jun 2020 14:54:48 +0000

I shorted the first reversal QQQ within the gap with a stop above the gap…….it is the best place to short as stops are very tight……
thanks randy, so far its working……great recognition….!

By: TJS

TJS — Tue, 16 Jun 2020 14:54:46 +0000

In reply to wilhud. I always remember that video several weeks back, where Randy said if he didn't practice good asset management, he would dump everything into an LQD short trade and just wait for it to fall. As it doesn't have much room to go up any more as rates are about as low as they go.

By: Action_Jackson

Action_Jackson — Tue, 16 Jun 2020 14:50:07 +0000

In reply to tk1202. Yeah, my gut says cover my shorts and go long. But yes, short into resistance and buy into support. I wish I had gone long when Randy said it would bounce at the 200d SMA.

By: tk1202

tk1202 — Tue, 16 Jun 2020 14:44:41 +0000

Looking to short on the test of resistance

By: Beantowndoc

Beantowndoc — Tue, 16 Jun 2020 14:26:59 +0000

Its a bear market dressed up by the Fed in Bull skin and paraded out on the Rose Garden lawn.

By: Action_Jackson

Action_Jackson — Tue, 16 Jun 2020 14:25:34 +0000

In reply to crlists13.

From what I gather from his videos and posts is we are at a turning point. The bear-market rally maybe coming to an end with the island top cluster however he just posted this: “any solid move back above the recent Island Cluster Top pattern to invalidate that as a reversal pattern”. So spy could breakout and go on to rally to new highs at this point the bear market might be done with on March 23.

What I don’t like is that when ever the markets are at a turning point it seems the FED jumps in and pumps it. So I’d have to assume they are doing it again. I guess at some point the pumps will loose their power as the earnings and earnings estimates become so bad that the valuations are a joke. They are already kind of a joke. Which creates a big bubble that could cause a very big crash. I would think the FED knows this so maybe they will slow it down?

By: crlists13

crlists13 — Tue, 16 Jun 2020 14:23:49 +0000

In reply to rparksd1963. It wasn't sarcasm or anything. I honestly need to know what criteria would negate the bear-market rally cases. Anybody could be wrong but we can not say it would take ATH. If not, it should not take this long/much to realize it.

By: rparksd1963

rparksd1963 — Tue, 16 Jun 2020 14:04:41 +0000

In reply to crlists13. Of course he does

By: wilhud

wilhud — Tue, 16 Jun 2020 13:49:52 +0000

Any views on LQD here?
Seems like putting in negative divergence on new highs on both 1hr and daily time frame.

By: crlists13

crlists13 — Tue, 16 Jun 2020 13:48:50 +0000

Randy please share your opinion. Do you still think this is bear-market rally?

By: pmtob

pmtob — Tue, 16 Jun 2020 13:38:09 +0000

The plunge protection team is out here putting in work!!!