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End of Day Market Analysis 10-10-18

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End of Day Market Analysis 10-10-18

End of day technical analysis on the US stock market via SPY & QQQ providing both the near-term & longer-term outlook as well as some important technical levels to watch going forward.

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2018-10-10T16:53:40+00:00Oct 10, 2018 4:53pm|Categories: Equity Market Analysis|Tags: , , , |2 Comments

2 Comments

  1. michael225 October 10, 2018 7:26 pm at 7:26 pm

    Randy, you had mentioned a morning drop followed by your expected rally area. If we were trying to trade that continued pullback before flipping long, do you have a level you feel confident in?

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    • rsotc October 10, 2018 8:39 pm at 8:39 pm

      I think tomorrow will likely see the markets close green & as far a how it opens, I not so sure. I’m slightly leaning towards a gap up at the open & going higher from there but I could easily see a gap down with a move down to the support zone on QQQ that runs from about 169.60 down to 167.33 before a substantial rally gets underway. I think whether we gap up or down tonight will depend on how the global markets trade following today’s smackdown in the US markets.

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