In hindsight, I should have had more confidence in my original bottom support and waited for better value or clearer signs of breakout (i.e. crossing $160).
The last time the Stoch RSI lines both held at zero (rare but more common with velocity inverse markets) was when TVIX was $40 a few days before the crash.
If TRIN spikes back up to >2 again next week, we'll know the end is nigh.
TRADER ASSIST NEEDED: In the hour AFTER market close today I saw the final TRIN point flip around to various positions from it's current .63 to .93 to 1.5 and back to .63 again. It was changing around as I was trying to write about it haha.
Can anyone explain how that could happen with this kind of market indicator? ( Advancing Stocks/Declining Stocks / Advancing Volume/Declining Volume )
I expect it to trend sideways. Won't fall below $90 before crash. SPX could crash any day. Might need to wait till next week. We'll see.
Tarekhamarneh
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So what you think will happen to Tvix this week?
farmerisland
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@ProfitHarvest I wish I had the expert answer to that myself. I was under the impression TRIN is only tracking during open hours. I don't know if perhaps that bouncing ties in with the uncertainty and large movement right into the close? We certainly have an absence of sellers right now. TRIN been under 1.0 for most part. It's interesting the amount of sell dump big money volume that's been happening right at the open though, just in the first 30 min, TRIN spiking over 2.0 and then down well below 1.0 rest of day.
ProfitHarvest
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@farmerisland, Oh god, what a catch. That is terrifying but makes perfect sense.
Maybe I was catching some after hours movements in the same vein.
Just further confirm that Retail is being setup here.
Can you screencap that shit next week? I'm so curious.
Above 2 is panic selling level (and where we were week before last), how far above 2 are you seeing?
farmerisland
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@ProfitHarvest, On the 3rd and 5th, it spiked up to 2.20, just in that first 30 min, and then after that balanced under 1.0 rest of day...on the 2nd, 1.28. On the 29th....spiked up to 3.67 at the open and was around 1.4 rest of the day. Makes complete sense with a lot of what you've been pointing to man.
ProfitHarvest
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@farmerisland, Oh man, what a sleeper spx sell signal haha. Retail being setup to take the 50% fall while Big Money profits all the way down and all the way back up.
2008 was the test run, this is the new and improved AI enhanced optimized version of a crash.
This is the crash where these Wall Street F*&ks finally get thrown in jail and taxed appropriately because unlike 2008, they're profiting from and screwing over the general population in the middle of a once in a generation desperate crisis.