Below is an excerpt of the full trading plan posted Tuesday evening at 10/22/19 11:46 PM EST
Projections based on market internals
Market internals are still showing an intermediate term bullish bias. The good news from this is that we are unlikely to see the start of a Down Trend any time soon.
However, as you can tell from just simply looking at the charts of $SPX $NDX SPY QQQ TQQQ, we are not done with this Choppy Market yet. (Sorry but the term “Non-Trending Market” was too much of a mouthful.)
What this means is that we are still have to endure more short-term rapid swings, up and down (Bounce and Drop).
In the short term, $VIX $VXN charts, as well as NYSE and Nasdaq A/D charts, show that volatility is likely to rise a bit more. This means $SPX $NDX SPY QQQ TQQQ are likely to drop a bit more.
$SPX $NDX SPY QQQ TQQQ are most likely going to drop down to test Support2 tomorrow.
After that, price movements will be unpredictable until one of these 2 conditions happens:
The rest of this article covers:
Projections based on market internals (more)
Table of support and resistance levels
Planning your trades
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