Comments on: Stock Market Technical Analysis 7-13-23

By: MichelMayer

MichelMayer — Sat, 15 Jul 2023 00:14:43 +0000

In reply to Scott. keep on posting scott, very appreciate

By: KevinK

KevinK — Fri, 14 Jul 2023 21:16:10 +0000

Randy,
About your indicators on the monthly SPY chart…. Every whipsaws you pointed out going back to 2015 were “sell indicator” candles that whipsawed on the 20 month moving average. Last months candle was a “buy indicator” candle.
I know anything is possible, and the market can collapse the last 2 weeks this month, but have you ever seen a “buy indicator” candle whipsawed well into a bear market ? Seems it would be very unusual.

By: seasix

seasix — Fri, 14 Jul 2023 20:39:07 +0000

Well Randy got his red day on the QQQ today, good call! This should relieve the overbought condition, rally next week.

By: KevinK

KevinK — Fri, 14 Jul 2023 20:20:42 +0000

In reply to MichelMayer.

You’re right. I remember you mentioning the golden cross.
So many simple indicators would have been easier and more profitable.
I shouldn’t have ignored the presidential cycle…Just pick a low in the last quarter of the 2nd year, and ride it through the 3rd year.
Would have been enormous gains again.
I won’t forget it in ’26-’27 if I haven’t lost all my money by then !

By: Pbathula

Pbathula — Fri, 14 Jul 2023 17:38:57 +0000

In reply to Scott. Thank you very much Scott

By: Scott

Scott — Fri, 14 Jul 2023 17:07:40 +0000

In reply to Pbathula.

@pbathula – By the close today, I am going to have the first sell signal on my weekly chart in over a year. Obviously, be careful whatever you do. It is finally objective to start taking longer-term shorts though.

Note the ridiculously strong trend on the indicator since October. Never, at any point, was it objective to short along the way (for longer-term holds). It was higher highs and higher lows on both the indicator and price. Only now do we have a confirmed sell signal on this time frame.

https://rightsideofthechart.com/wp-content/uploads/bpfb/2910_0-96531700-1689354110_1201111.png

By: Pbathula

Pbathula — Fri, 14 Jul 2023 15:52:29 +0000

I feel Randy is giving us his analysis based on his experience. But the timing is not playing in that direction. Lot of people took positions on leverages etf are hurt very badly and all of a sudden AI boom. We are at qqq at $300 talking about bearish steups. Now it is 380+ and that you mutiply 3 times plus decy… if someone taken positions assuming this is bear rally probably lost lot of money. I think we may close to see which direction this will go.

By: seasix

seasix — Fri, 14 Jul 2023 15:35:17 +0000

In reply to trade0039. Randy will say QQQ has gone nowhere since the last time it was at 382 in Jan 2022. So stop complaining.

By: trade0039

trade0039 — Fri, 14 Jul 2023 15:30:08 +0000

All 3 indices (SPY, QQQ and DJIA) are 5% to 6% shy of all time highs!

I hope Randy’s TA plays out

By: Pbathula

Pbathula — Fri, 14 Jul 2023 14:56:13 +0000

Hi Randy , Scott, Becky, What do you see the market today? Thanks for all others for comments.

By: MichelMayer

MichelMayer — Fri, 14 Jul 2023 14:51:57 +0000

In reply to seasix. same as 2020 V shape rally and i have been cought again shorting this fuck market. Like lots of your comments and randy's, i should had listen to my own indices. I commented in this site the 13th of march was a golden cross and since then up up and up we go. Support and resistance are not the premium indices.

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 14 Jul 2023 14:31:32 +0000

In reply to seasix. AAPL and MSFT are above previous all time highs, and NVDA is up a whopping 43% above the previous all time high, but QQQ is only having a bear market rally? Shame on the charlatan pitching this load of BS.

By: seasix

seasix — Fri, 14 Jul 2023 13:48:00 +0000

Today it’s NVDA and MSFT turn to ramp and carry index higher. Always someone ramping. Some bear market we have here.