Comments on: Stock Market Technical Analysis 8-5-22

By: sberenschot

sberenschot — Fri, 05 Aug 2022 21:57:45 +0000

In reply to @GEOTRDR. Nice mate, qqq went down nicely. The IWM mid caps just kept surging higher. :) How's your feeling on that?

By: @GEOTRDR

@GEOTRDR — Fri, 05 Aug 2022 20:30:39 +0000

Called the drop yesterday…..+200% QQQ puts …sweet, Monday we drop again in am imho….Not being cocky here, just in a good mood :) Lotsa work behind my calls, not just guessing….forward should be interesting…

By: HermonMunster

HermonMunster — Fri, 05 Aug 2022 19:58:02 +0000

In reply to sberenschot.

I would, but I’m tapped out. The price is wedged btw a resistance level and support.

https://i.imgur.com/uHmXwdB.jpg

By: sberenschot

sberenschot — Fri, 05 Aug 2022 17:47:02 +0000

In reply to HermonMunster. Wondering if Randy is still adding on to the IWM shorts :) .

By: sberenschot

sberenschot — Fri, 05 Aug 2022 17:40:00 +0000

In reply to sberenschot. IWM strongest index of them all currently.

By: HermonMunster

HermonMunster — Fri, 05 Aug 2022 17:21:31 +0000

market is shrugging off umemployment news and prices are above trendlines for IWM and RTY at the moment. Stick save for the charts? I have a position in TZA now and will hold through weekend. My 3 to 1 RR stop is already set.

By: sberenschot

sberenschot — Fri, 05 Aug 2022 17:17:44 +0000

In reply to rsotc. My predictions are for next week. It seems like a float-up friday! atleast for the IWM :)

By: rsotc

rsotc — Fri, 05 Aug 2022 15:57:49 +0000

In reply to sberenschot. $VIX showing complancy/no fear & my various put-to-call ratios (most reliable sentiment indicators) never came anywhere close to marking a lasting bottom. For that & other reasons, I still believe this is only a bear market rally with at least one more major leg down still to come.

By: sberenschot

sberenschot — Fri, 05 Aug 2022 15:10:09 +0000

Interresting is that the VIX is not increasing at all. Would expect some panic when trend is breaking down.