1) Orange line is neckline of big H&S pattern from 2018. A gap up will make bulls think they've cleared the obvious resistance at $259/260. Simply no volume sellers at current levels, meaning big money is waiting for higher levels to unload... $260-$262 is a bulltrap.
2) Take a look at the VIX. Everytime we've been at this level during the correction the market either flushed the following day or gapped n' flushed. With the VIX in a giant falling wedge since xmas lows, pretty high chance of this happening again Monday. Plus simply falling out of this triangle would be anticlimactic no? You'd think if we were gonna fall out it would've happened by now.
3) AAPL, MSFT, GOOG, AMZN, and VIX all firmly in the red while SPY closes GREEN? Yea, something's definitely fishy here.
4) Accumulation is the only thing that worries me, would've like to see some distribution in the latter part of the week here. Everything else is showing bearish divergence tho, RSI, MFI, volume, etc.... Maybe pension fund buying ETFs for the yr?
Monday should be fun - trade sanely.
2) Take a look at the VIX. Everytime we've been at this level during the correction the market either flushed the following day or gapped n' flushed. With the VIX in a giant falling wedge since xmas lows, pretty high chance of this happening again Monday. Plus simply falling out of this triangle would be anticlimactic no? You'd think if we were gonna fall out it would've happened by now.
3) AAPL, MSFT, GOOG, AMZN, and VIX all firmly in the red while SPY closes GREEN? Yea, something's definitely fishy here.
4) Accumulation is the only thing that worries me, would've like to see some distribution in the latter part of the week here. Everything else is showing bearish divergence tho, RSI, MFI, volume, etc.... Maybe pension fund buying ETFs for the yr?
Monday should be fun - trade sanely.
