HAL9000

SPX: Confused and confusing

SP:SPX   S&P 500 Index
391 1 4
Directionless
Higher volatility with no direction is what we have right now, and it is difficult to trade.
This index is acting like it is a little confused, not knowing where to go.
After a historic rally and after repeatedly breaking historical highs, this is expected.

Technically flat-lined
Technically, it is sitting at the apex of the high triangle, which does not help.
The worst case would be for it to stay here.
Other alternatives would be a breakout to the upside (>2,760) or downside (<2,675).
In the meantime, prudence is required... Again.
Comment: Critical time as the SPX tries to break out to the upside, while the VIX bounces off its SMA100 and the VXX rests on its SMA200. This is a synchronized move, which I like. Let us now see in which direction the synchronization will take us. The market continues to act very strongly, supported by good fundamentals. Today, all short bets are off, for me.
Trade closed: target reached: So the breakout was confirmed to the upside on Friday. closing this thread to open a new one.

Related Ideas

Its going up IMHO, I saw a watch breakout yesterday around 1 pm. 15 min tf
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