So in 2007 and 2011 the same patterns were seen as now.
1. Big "V" momentum and AVERAGE RANGE CHANGE trend 2. Three driver pattern 3. Rise to the top 4. A tilted double top 5. A severe difference in the average range to price 6. Then a break of big supports 7. Then the correction/collapse, take your pick.
Most similar is 2007 to now.
This is a different time with QE , world events, manipulated market as never before, fracking, Iran nuke deal now and more oil hits the markets soon, oil wars, etc. where we did NOT have that before, so the rate of change, and time frame may be different (or not). But I think this is inevitable. When we get our disappointing results from this earnings season, wonder if the market will believe in this bull any more. Musical chairs game, but you have to wait until the music stops, or do you?
I thought it was a sign of the market glitch the other day, in the ETF's that were halted due to extreme trading volumes? Really, and not once but twice? So when this correction FINALLY hits, will they STOP TRADING? and for how long?
I will post a wider view, but you can check it out for yourself in your own close up charts when you chart this.
Comments
RRose
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Claydoctor, how can they keep the prices of vxx, uvxy depressed, do you think if market hit 1800, uvxy will hit 51 which it hit in October. are the hedge funds keeping these products depressed
claydoctor
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actually VXX option futures longer term are very expensive. Yes, I believe te pros think everyone still has a handle on all this, and they are ringing the rags of profits, bidding up the market, and with every sell trade taking some profits and buying bonds and keeping cash. note the lower volumes past 30 days all markets. So the lower vix is false, and the ore it stays that way the more it will spike when reality hits, I am watching closely first week of earnings.
claydoctor
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I have been building positions in VXX long and calls for a week or two now. IMO we spike before June fomc mtg.
claydoctor
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so, spy did not like this morning's employment report, and the revisions down to last months. could move us to 204 over the 3 day weekend, really have to be careful of these 3 days market closes, when there is something that moves the market.
LetsBeMillionaire
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i bought good number of UVXY. Only fear is that VXX keeps going down and down and UVXY too. Will tihs bad job market report bring this market down? in that case my entry point is perfect.
RRose
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Dont what the reason. 2100 to 2040. Uvxy went from 25 to 29. But. Now thease products dont move