Ok guys I've revamped my TRIN trend analysis to be extra complex but hoping my coloring will make it easy to see and understand.
Basically we have a wide upchannel defined by the red and green lines.
Within this upchannel we have intra-channel yellow trends that match almost exactly to the angle of the overall channel trend.
Here we also have a narrow, kind of hidden much steeper white upchannel within the broader upchannel.
All these should act as S/R points with red/green being the strongest, yellow next strongest and then white being a little less strong.
Basically the more it stays under the white channel and middle yellow line, the less bearish, the more it stays within the white channel or over the white channel the more bearish.
As long as it stays in the overall channel, we will continue on track to super bearish/Panic Sell hysteria but lets see how it holds up in the coming days.
I have a feeling the world may wake up to some harsh realities this weekend.
The congress Critters start their recess the beginning of August , basically AWOL as far as I'm concerned , regardless the timing could be very important depending on when the Market tanks again gotta get some stimulus agreed upon before the end of July , should be interesting
ProfitHarvest
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@Peterson, So true, haven't plugged congressional recess into my model. Thanks for the tip!
@markettimer777 is calling early July low and lower low in mid-Aug. Lot of data lining up around those points.
Probably they will pass something of some kind after the recess that will contribute to Trump's reelection GAINS going into Nov.
No fckin way anything makes it through before end of July... speaking from my political junkie background B).
YellowInk
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If the gov was to announce another round of stimulus checks, do you think that would delay the crash for a bit?
ProfitHarvest
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@YellowInk, Few days tops. I still can't even get the damn first one #fuckthegovernment
YellowInk
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Same, I’m a college student so I didn’t get shit
davidismyname
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"I have a feeling the world may wake up to some harsh realities this weekend."
Dang that sounds intriguing! 😳
ProfitHarvest
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@davidismyname, Still working on my precision but in an environment where any number of things could trigger a panic sell on any given day, weekends have about twice the chance of some news triggering a crash than any given trading day.
No specific reasoning beyond that but man does it feel close.
DaddySawbucks
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@ProfitHarvest, It's gonna get Bullish IMO and Bears will get crushed, VIX get crushed, puts expire worthless.
ProfitHarvest
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@DaddySawbucks, VIX and TVIX will absolutely not get crushed. They are already much higher now than the last time the markets were at this price.
At this point, even if we go up, it's just more volatility which is a nice side hedge of the inverse markets that'll cushion any drop. Market forecast is gloomy with a high chance of shitstorm.
Peterson
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@DaddySawbucks, If it happens it will coincide with an agreed stimulus package from congress a week or two before August sending the market higher no doubt , PPP expires shortly also , will they reboot it ?