if we hold the 18.50s and break upper 19s retracement will be good enough and well be over rising vwma and trama if we reject 19.75 and close below a significant low on the 5 minute then stiff overhead resistance means were in for low 18s. if we see that close into the upper 19s were headed over 21
Comment:
the key to this is that we stay below 400 spy and see multiple sectors making new intraday lows simultaneously.
Comment:
VWAP 18.89 and rising slowly if we hold this level and SPX starts making new lows with NDX in pursuit uvxy should head toward mid-upper 19s
Comment:
if we show 15 minute rsi coming out of overbought as uvxy sells off we will make new lows today or tommorow
Comment:
double stochastic one minute diverging and overselling
if we resist from low to mid 19s and close beneath 19 into the upper 18s were headed for high 17s.