Comments on: Stock Market Analysis (video)

By: rsotc

rsotc — Thu, 03 Aug 2017 02:35:49 +0000

In reply to oxienergie. I wouldn't read too much into the intraday price action today. The reversal today was nothing more than a bounce off the bottom of this recent consolidation range following the most recent divergent high & bearish candlestick(s) in QQQ, terminating at the top of the range along with IWM also reversing off support. 60-minute trend indicators still bearish since Friday. Should QQQ make a convincing breakout above the top of this range & especially the 144.90 area/last Thursday's gap, then new highs are likely in store. However, if that occurs soon, it will still be an extension of the current divergences so I wouldn't chase it.

By: oxienergie

oxienergie — Wed, 02 Aug 2017 21:26:45 +0000

In reply to GetItRiight. Was about to post the same. You asked for a stick save? There you have it. This market is unbelievable.

By: GetItRiight

GetItRiight — Wed, 02 Aug 2017 20:03:05 +0000

There’s your stick save, including AMZN from dropping below the trend line. Only IWM stayed negative.

By: rsotc

rsotc — Wed, 02 Aug 2017 18:07:07 +0000

IWM hit support/my first target today on the 60-minute time frame, hence the reaction (bounce/consolidation) so far today. I agree with you that more downside is likely & 137 is also right about where my bottom support/target line is at,

By: morrienelson

morrienelson — Wed, 02 Aug 2017 17:34:48 +0000

IWM is moving down pretty good today as well. I think that 137’sh should be a good target