I agree but what to do? I think the same thing happened last year about this time when S&P 500 was at low of 2722, Fed came in and rescued,and then the low vol/algos dance started again. Then same thing in October when the Fed came in for “repo QE” and rinse/repeat.

This is not confirmed, but a minor bullish channel could be forming (red). This would be confirmed by a kick-back on its lower band, around 2885, which I find very likely since it intersects the support line at 2890.

Two weeks is a long time and a lot of money. I’m going to jump out and jump back when this run is over.
Bears are just about done. /ES blasted through 2882 resistance. /NQ is just 5% off of all-time highs and just blew through a bunch of major resistance levels (up another .5% to start Sunday). I’m getting some spy calls today. This isn’t stopping any time soon. 300 on SPY in inevitable. Randy might be right eventually, but he might be off by a few months on this one.

Thank you.

I tried a few. I think TradingView is better than TC2000 (real-time data and basic charting tools is 25 per month). Here is a little trick: investing.com is tradingview. You got a lot of nice features via investing.com for free. That is what I am doing. Good charting tools and you can save your charts. Plus the mobile app on my iphone is great. If you want to glance at a chart that you saved on the go…

I agree with Randy that there’s only so much that outside money can do. The market is too big to be influenced forever by rate cuts and free money for very long. Those are all short-term issues.
Everyone is making less money and spending less money. I talked to the owner of a local pizza company. I was thinking his business must have been booming because pizza places are some of the only food places open. He said he’s getting killed because most of his money comes from seated customers, not pickups/deliveries. Everyone is hurting financially.

Every chart analysis in every time frame except for one points to SPY going up at the beginning of next week. The only one that still shows SPY going down is the one Randy constantly points to – the weekly chart still shows SPY still under the long-term EMA. According to that, we’re still in a bear market. According to everything else, SPY will hit 300. /ES at night has been very predictive of SPY the next day. We should know by midnight tonight what Monday will look like.
For me, the scariest thing for bears is that a back test of the trendline from March lows would mean all-time high prices.

Unfortunately I read the article a little too late in the day! Another gap up Monday morning most likely will lead to a melt up! It’s a very ugly scenario when 25% of the S&P 500 has been hijacked by the “float debt to buyback stock” crowd! Basically small fry investors like you and me are relegated to being the burnt edges of the pan! I am totally sold out to Randy’s incredible talents and integrity! He’s doing what he’s designed to do – give us the hard and cold facts based on the charts…and he is the best there is! I’m just saying if you would bother to read the article objectively then you’ll better understand why this market is contrarian and why it’s a different beast then anything we’ve ever seen before! I think it’s time to follow Buffet to the sidelines and cash out! I hope and pray we gap down Monday morning but I seriously doubt it! Enjoy the burnt stench of your hard earned cash going up in smoke!

I completely understand the concerns for some businesses being closed but empiric observations are most of the times misleading. I have pointed out in almost every post that the stock market is not the economy. When Apple issues $80 billion worth of bonds and uses that money to buy back stocks (they just did that the other day), this is not the economy. When the Fed pumps $2.5 trillion in the stock market in only a couple of months, that’s not the economy. The stock market is a playground for rich people, not the economy.

Your graph will probably come true. With so many traders bearish, the market will go the other way. The same thing happened after the low was put in in March 2009. The market went up without a pull back for 13 months.

WTF. Please start taking your schizophrenia meds again immediately.

SPY is above the 60-EMA on every time frame except the weekly. Two more positive weeks and and it’s officially over for bears. Everything is pointing to SPY going up at least until Wednesday.

Long term QQQ is the new SPY

urgent – “requiring immediate action”
very – “extremely”

If you’re that scared, close your positions. It’s your money, not Randy’s. Why would you keep your money in a trade if you’re that emotional about it?
You’re “assimilating the facts” and putting your money “all-in” on the opposing view in hopes that timing will work out perfectly.
Genius.

No. This is trading for a profit, not praying for sins.

Assuming we have hit the actual low for this bear market…. which is why a 6 week drop and return to ATH in another few weeks is difficult to fathom. Maybe your yellow circle is misplaced and should be on the right side of that V pattern on chart one. That would be very scary indeed. In my neighborhood businesses of 15-20 years are closed OOB, the major grocery store chain super store -lights out-closed. No meat to buy now-wide spread hoarding going on. These things are not like the 2000 and 2008 crash. The restart in my sector will be very slow and will require extreme measures to practice SD.. Many community hospitals already on brink of financial difficulty now so far in red laying off staff by hundreds. The bottom is not in in MHO. Sandcastle by the shoreline. The tide may be going out but its coming back in soon I think and I am very worried -not for my activities here, but for the country as a whole.

Read the article and you tell me how us shorts plan to survive in the face of a 9 Trillion dollar (Kudlow) manipulation of the markets! That’s 9000 Billion! That’s $25,000 for every single American Coast to Coast! Not just workers, EVERY person! All 320,000,000 of us! Sometimes fundamentals TRUMP Charts and Channels! To be blunt, it’s like putting a campfire out with a Tsunami! Read the article! Keep in mind only half of the 9 Trillion has made it into the economy so far! I’m just assimilating the facts pal. Yes, it’s very urgent! It certainly will come crashing down one day no doubt but not Monday and not anytime soon! Hope I’m wrong because I’m still all in on shorts! Hoping next week will offer some relief for an out :-(

Financials are lagging. Financials are the real economy not technology. The Fed repo
operations were the beginning of Bailout #2 and
we never got any transparency on the first Trillion
in Oct-Jan.

If you were in elementary school after Y2K & 9!11,
then take a look at two time periods 1970-80 and
2000 – 2010 but make sure you don’t observe on MAX because you can barely see them. Buffet said last weekend he has 36pct cash, Sam Zell,
said he is just watching everything, Cuban said he sold everything but Amazon,NFLX, but he has a bunch of guaranteed NBA salaries to pay.

BTW, there is AntiTrust legislation going through the Congress that hasn’t gotten much attention
because of the virus and Both Parties agree !!!!
Hint – technology

So it’s not another Waterfall, but Randy’s doing his best people! (hoping I jinx it again!) : )

@rsotc – here’s another article with a similar premise. would also love to hear your thoughts. Thanks for the good work you do. https://www.marketwatch.com/story/as-sp-500-surged-from-march-lows-investors-fled-the-most-popular-stock-market-fundheres-what-one-analyst-says-that-means-2020-05-07