The needle is about to move

There are some signs of a sharp price movement coming, either long or short.

Bearish View
• VXX 4hrs RSI could make a double bottom;
• SPY 4hrs RSI could face resistance;
• VXX chart could make a double bottom;
• SPY chart is at resistance.

If these patterns don’t materialize, then it should be very bullish for another few days. We should have a confirmation at the end of the next 4hrs candle.

Cheers,

Comment:

It is about to move again, potentially in about 30-45 minutes. It could be either way; reversing long is very possible, however i am leaning to the bearish side with the info i have atm. I won't be able to trade or update, i will be gone all afternoon from now. Cheers,

Comment:

Unless a last minute strong rally, we should have a daily red candle tomorrow

Comment:

There is a big fight, not the time to get in, better wait tomorrow

Comment:

The fight was won by the bear at the last minute imo. Some selling tomorrow, gap down Friday. That's what I see for now.

Comment:

Looks like we are going down in the AM. I may add on my shorts if there is a good opportunity. Lets see.

Comment:

I sold my short, it is not a good spot. Could turn out to be bullish, i'm waiting mid day to re-assess.

Comment:

Too bullish in the AM, now that the market reset from the open, my idea of selloff in the morning still stands. I am short for another 1.5-2 hours at least.

Comment:

In a triangle right now, it's going to move soon

Comment:

Unless of a last minute strong rally before the close, most likely to have a gap down at the open tomorrow followed by steady selling.

Trade closed manually:

Totally wrong the gap down open. However, I was able to make some decent cash on the daily calls. The situation has changed a bit, i will update later with a new chart. Take care.