IvanLabrie
Short

S&P500: Vix spike retraced after testing Key Hidden Level

FX:SPX500   S&P 500 index of US listed shares
8 months ago
We had a significant rally after Vix             spiked 54.47% in 3 days, and the S&P500             index landed right on a Key Hidden Level of support, caused by the smart money buying spree after older Vix             fear spikes. Each time the smart money buys the selloffs, they retrace Vix             spikes by 75%, and at that point we get these levels, which if they hold, show a bullish bias is a smart thing. In this case, we rallied from it and are now testing a low volume resistance, and showing signs of exhaustion in the intraday rally, on a time at mode basis.
There's a key resistance above, caused by the Brexit activity, which I expect to see tested soon. For now, I'm monitoring this progress, and holding some equity longs, but also adding to my longer term shorts in DB             , FB             and IBB             .
I'll update this chart with more details as they come.

Check out my updated track record here: http://pastebin.com/6CyyqnPT

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Cheers!

Ivan Labrie

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We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.


Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.43% on such information.
8 months ago
Comment:
snapshot
8 months ago
Comment: Following the script.
8 months ago
Comment: Right at the Brexit day range expansion day mid point now:
snapshot

Key decision level. Let's see how it goes.
8 months ago
Comment: This should be the top zone for this rally.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
mabaert PRO
8 months ago
would you consider entering shorts now at 52?
Reply
IvanLabrie PRO mabaert
8 months ago
You can short with a wide stop, or short overvalued securities that are against key resistances.
Or you can open a bearish options trade too.
The key level here is slightly higher though. Couple more points.
Reply
mabaert PRO IvanLabrie
8 months ago
my broker doesn't allow for much other option trading, so I'll wait and watch spx500 instead. Key level you mean is around 2060 right
+1 Reply
IvanLabrie PRO mabaert
8 months ago
Yes, indeed. I'd prefer to short FB for example, using an ATR stop.
Reply
Silver-Silver
8 months ago
The time you spent making the chart is greatly appreciated!

I agree with your conclusion. Holding naked shorts myself since Thursday. I wish I could say I buy into this rally like I did with the ramp from 2030 to 2120 but I can't. It just looks like it's about to come down any second now...

Here's my swing play

The SPX is lying. 1800 is coming
Reply
IvanLabrie PRO Silver-Silver
8 months ago
Good analysis. The risk off gauge is nice.
Reply
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