Comments on: Stock Market Technical Analysis 4-30-20

By: Action_Jackson

Action_Jackson — Fri, 01 May 2020 14:15:46 +0000

In reply to wadaheo. I bought to cover 1/10 right at the very top! So for sure we are going down. I should have trusted Randy's judgment more. However he did say if you are feeling uncomfortable lighten your position. The last 2 weeks have been painful. I hope its over.

By: becky

becky — Fri, 01 May 2020 13:37:19 +0000

LQD is slowly inching lower, now inside the gap as Randy suggested the other day.

By: hafstjl06

hafstjl06 — Fri, 01 May 2020 13:26:11 +0000

In reply to wadaheo. I have a feeling we might get another fake out to trap a few more bears before going up to 300 and then starting the larger sell off

By: TJS

TJS — Fri, 01 May 2020 13:23:54 +0000

In reply to wadaheo. I havent closed mine yet, which typically means, the market will keep rising. We will see

By: wunnakoko

wunnakoko — Fri, 01 May 2020 13:11:47 +0000

In reply to wadaheo. Same here. I closed out 1/3 of my short positions yesterday. I know both ES and NQ will start going down as soon as I start closing.

By: wadaheo

wadaheo — Fri, 01 May 2020 12:56:35 +0000

SPY and QQQ are red today because I closed out half my position yesterday, so you’re welcome. But I still have half in so lets watch the price action.

By: susantrade3

susantrade3 — Fri, 01 May 2020 10:02:53 +0000

T Theory and Cycle Patterns project end of May 1 on QQQs with Head & Shoulder pattern forecasting decline to 206
https://www.tradingview.com/x/gViGnNwX/

By: Imadaytr8r

Imadaytr8r — Fri, 01 May 2020 09:09:37 +0000

There is a huge riptide underway! Between Commercial B&C paper lenders suddenly shutting their windows without notice EOD Wednesday (Media has missed this scoop) and Thursday Trump lowering his over the top exuberant rhetoric to “improvement” in the 3rd and 4th quarters something has dramatically shifted! Right before our eyes we are seeing the fundamentals finally catching up with what Randy (the Bear’s Paul Revere) and his charts have been screaming! Let the Bulls evaporation begin!

By: wilhud

wilhud — Fri, 01 May 2020 07:39:20 +0000

@rsotc nice little descending triangle going in on LQD. A gap down could trigger an island cluster top and some waterfall type selling at a time when the Fed have been easing off on the balance sheet expansion. Thoughts?

By: gmatache

gmatache — Thu, 30 Apr 2020 23:48:55 +0000

In reply to tslamoon2022. Indeed, but that flag was formed with a rejection of the 2865/70 support line. If this is a bear flag, we;ll see a second attempt to break that support and if it fails a second time, we'll go back to 2920.