I think at this point in time I will look to play the bounce if/when we get back to that support in the 2700s. I see a lot more overhead R after this recent drop, and not a great R:R.

My 2C, I have noticed you get a better reception when you keep your posts clean. It’s really not necessary to compare your analysis with others, that’s only likely to upset people. We have all been around long enough to know the no one can predict what the market is going to do, we can only narrow down the probabilities and trade when we have an edge.

The charts are useful, thanks for posting!

QQQ 20 SMA needs to clear first before we see 50 SMA…
https://cdn.discordapp.com/attachments/506230970307969045/709931061710159972/chartd5.png

To be fair, I predicted “a move towards 3400”, not 3400, in the 2-3 months window. Here are some more exact targets if we do get past 2950: 3020 (the tops from July and September 2019) within days, 3110 (the tops from March 3 – 5) within 2 – 3 weeks after that, and slowly crawling towards 3200 and beyond after that.
Finally, bare in mind that +100 pips at the 3000 level is 33% less than a +100 pips at the 2000 level, percentage wise.

I will definitely do that, for as long as my account is still active here (it doesn’t make sense to me to keep paying when I think that Randy is married to the short side).
Right now, at 6pm, if you are short, good for you (so am I)! I would target 2720, with a stop at 2880, but watch closely the reactions at 2850 and 2820, if there are any. Actually, the 2850 support is the reason for the stop at 2880. I would not exclude 2850 to be where we turn.
If you are long, I would close the position right away, followed by an entry at 2880/85, a stop at 2840/2835 and a target of 2940/2945. The risk reward ratio is not great, only 1/1.5, but that’s because this zone is the no man’s land and because 2940/45 is such a strong resistance. It would be a very short term trade.

Almost there…SPY at 284 & change in AH…

SPY currently @ 284-285 & dropping in AH

A lot of people are short-term bullish. You are the first one to predict 3400. I don’t think we’ll see that this year. We might hit 3,000; but 3,400 is unimaginable.

2% feels like 20% with the drought we were in. Got a QQQ put right before the fun started. Still a LONG ways to go to get even during this time period for me.
I vaguely remember Randy saying that 273 could happen quickly once momentum shifted.

Equity put/call ratio yesterday was 0.5. There’s definitely more people purchasing CALL options rather than PUT. The scenario is back to pre-crash level already.