Thank you so much! Will keep an eye on banks to wait for a good signal/trigger.

Randy does trade RTY often. But for big swings he uses /NQ. He usually charts NQ, RTY and ES. and of course you can trade in MES, MNQ and M2K, the micro versions. You can always ask him for a chart on anything btw.

I know, you don’t trade the RTY often, NQ is your preferred proxy. Please remember the little guys and try to incorporate some RTY charts in your analysis. I understand RTY is more volatile and has a higher concentration of banks.
Thank you!

Absolutely and in the intermediate to longer-term, I favor yields rising & making new multi-year & even decade+ highs. That has been my take for a while now & meshes with my longer-term bearish outlook for the stock market & economy. I’ll update Treasuries with my near-term outlook later today.

If yield continues to surge, then stocks can go back down

Sure. Here’s my GS daily chart. You can see from the pop-up box that shows when I hover on that support level I have at 428.73 that I added it there back in Aug(edit) of ’24 and haven’t modified it since. The LOD on GS yesterday when it bottomed followed by the explosive 20% rally (which ended at one of my previous targets/supports, now resistance level) was 439.28, mere basis points (1/100ths of 1%) from that level so effectively a near-perfect reversal.

I been covering the banks & other financials over the last couple of days & highlighted the fact they had just fallen to support where either the positive tariff news or something like an emergency rate cut (or talk thereof) would have to happen this week or something was going to break in the financial sector.

Another long list of examples where the technicals & fundamentals come together so often when it comes to big moves in the stock market.

P.S. I don’t have a strong opinion on whether or not GS & the other big financials will continue up to those next resistance levels or not. Personally, I wouldn’t bet on it & still favor a pullback (tonight and/or into tmrw) off today’s highs, especially if GDP or the jobless claims comes in hot tmrw morning.

Yes & thank you. You’ve been here a while so you know whether it’s the stock market, an individual stock or sector, when I’m hot, I’m often very hot & when I’m not, I’m really not & at times, it seems I can’t get out of my own way.

The takeaway is two-fold:

1) I’ve notice a pattern over the years where a lot of subs on RSOTC pass on a lot of trades that turn out to be big winners, often with near-perfect entries & exits. Then, after a “hot streak” starts to become very clear & establish, that’s when a lot of subs start taking every trade & often, it seems, with overly large and un-hedged or diversified positions. Right is not a good time to get aggressively long or short IMO.

I’ve always had & most likely will continue to have periods where I’m batting .800+ & periods where I’m batting under .400 or less, particularly when it comes to stock market calls

2) Over time I’ve been honing my instincts on when to push a position hard & when to lighten up or stand aside, especially after a big run. Today was one of those days where although I reversed my /NQ positions shortly before the close & reversed short when my max. near-term targets on QQQ & /NQ were hit, I only took a fraction of the position size short that I closed out long & will most likely keep my position sizes on the smaller side for at least the remainder of the week.

Another way to say that: That “likely” or potential bounce target range on the SPY, QQQ, & the Mag 8 stocks I covered in the last video today is where I suspect the bounce will end. However, that range starts at today’s high & continues up to a level, although relatively not too far above, far enough that I don’t want to risk a draw-down or give-back in profits.

Good time to let the dust settle for a the remainder of the week and/or start scaling back into swing shorts but nothing too heavy just yet IMO. Thx again for the feedback.