The SP 500 is currently undergoing Parabolic Wedge. Parabolic Wedge in Price Action always ends badly.
1. In Daily chart, the bull keeps buying the every pullback. There are no sign of reversal
2. In Monthly and Weekly chart, it is a Parabolic wedge
3. Always Long, Scalping only.
4. The Bulls are hoping for a bearish reversal at least 5% - 10% correction. It never happens.
5. The market breaks out to the previous high every single week or twice a week.
1. In Daily chart, the bull keeps buying the every pullback. There are no sign of reversal
2. In Monthly and Weekly chart, it is a Parabolic wedge
3. Always Long, Scalping only.
4. The Bulls are hoping for a bearish reversal at least 5% - 10% correction. It never happens.
5. The market breaks out to the previous high every single week or twice a week.
Comment:
6. There are massive short on the VIX trade. The last time it happens, it happens in 2008. Trader expects to double or triple their money based on shorting the VIX.