The following video provides technical analysis of the US stock market followed by updates on various asset classes & swing trade ideas. Silver or Gold level access initially required.
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Technical Analysis & Trade Ideas 7-2-20
2020-07-02T13:54:22-04:00Jul 2, 2020 1:53pm|Categories: Equity Market Analysis, Forex (Currencies), Gold & Commodities, Subscriber-only Content, Unofficial Trade Ideas|Tags: $GOLD, $NDX, $SILVER, $SPX, $USD, /DX, /ES, /GC, /LE, /NQ, /SI, CGA, COW, GLD, QQQ, SEED, SLV, SPY, UUP|6 Comments
A much better trend line is made on the SPY using the weekly chart. It’s closer to your yellow line. 2018 was the break in trend, 2019 was kick back rallies and Jan 2020 was the perfect back test and rejection. .
Agreed. That’s the primary bull market uptrend line on my weekly chart, which I don’t believe I covered in this video but usually do when going over the longer-term charts. Here’s that weekly chart of SPY with that primary bull market uptrend line in blue. As you said, the broad market broke down below it in Q4 2018, backtested it from below & then plunged into the Dec 24, 2018 lows, recently backtesting the trendline from below back at the Feb ’20 bull market top with that backtest also followed by a very impulsive rejection (the 36% plunge into the… Read more »
I usually have multiple “boards” with different levels (trendlines, support/resistance, chart patterns, Fib levels, etc.) on the same security on the same time frame. Here’s another one of my weekly charts of SPY showing the large Broadening Wedge/Megaphone pattern.
Hi, Randy. I appreciate your sentiment analysis. HAve you looked at the SKEW, also? Seems to be shouting about risk.
Many thanks.
Jon
Another charting question here. I tried looking up $CPCE in Thinkorswim, but it doesnt look anything like what Randy is showing here. $CPCE, $CPC, AND $CPCI all exist, and I can view them, but they dont have anything in common with what I see in this video. I went to Stockcharts, (which up until now I have never used) and viewed the charts there, and they mirrors exactly what Randy is showing in this video. Anyone have an explanation why these view differently between the two platforms?
Thanks
Those are probably stock tickers that you look at on TOS. I don’t believe those indices are as standardized. Tradingview has similar data mapped on charts, just type in “put call ratio” in search there and you’ll see a variety of charts that include P/C ratio for major indices, P/C ratio stocks and P/C ratio aggregate. Stockcharts as you already discovered is another source