Nevermind. I see that you were able to post that chart in a new comment.

No, not in the least. Intra-month moves, such as reflected in that tail, mean little to nothing. All that matters when trading candlesticks off the monthly chart is how the candle closes as the end of the month.

I see what you are saying but the long tail (i.e.- strong intra-month reversal) doesn’t mean anything to me. In fact, if you recall when the market was down big towards the lows earlier in April, I was expecting about a 16% counter-trend bounce & it so happens we closed the month around the top of that bounce.

Still on watch for potential solid closes below the 20-month EMAs on both QQQ & SPY to flip that one particular long-term trend indicator from bullish to bearish although that could come this month (end of May) or months even yrs from now. The important thing is to recognize it when it does & even then, look for additional confirming (or refuting) evidence of a longer-term trend change.

Missed this one from you earlier but replied to the 2nd bump here: https://rightsideofthechart.com/swing-trade-ideas-5-1-25/#comment-35672

I see equities going higher.

Does that change your view of what is to come? Has there been a case in the past like that before… Can you review this in your video next, please?

I believe Randy is saying he will scale out of his short positions once they get above the upper limit of his bounce target.