VIX - Daily Contract Range ( NQ ES YM )
The VIX broke its .500 by 2 Ticks to pull back towards its 22.25 Support Level.
VXN, no different, the pullback towards its Support from the Measure move of
the GAP to the Highs.
The indices will complete their retracement measured moves ahead of the
FOMC tomorrow, entirely normal after yesterday's extremely large Volume Sells.
We anticipated a Retracement back up ahead of the FOMC. It is normal and useful
as the SELL Fills in the DOM await.
Price will move to its 200SMA after this retracement is complete.
The Die as they say is cast for Lower Prices, as we have indicated the 200SMAs
will not hold but create a failure towards the 400SMAs.
_________________________________________________________________________
NQ - Daily Range 14807 - 15708
The retracement Levels for SELL Fills:
15258
15364
Gap Fill Open
The Objective is 12754
_________________________________________________________________________
ES - Daily Range 4294 - 1550
The retracement Levels for SELL Fills:
4421
4452
Gap Fill Open
The Objective is 3982
_________________________________________________________________________
YM - Daily Range 33478 - 35548
The retracement Levels for SELL Fills:
34512
34753
Gap Fill Open
The Objective is 28.200 to 31,000
________________________________________________________________________
Summary
Market Structure observations proved to be correct. The Trade Plan was executed and
closed successfully.
The Markets are weakening and moving to their 200SMAs, we do not anticipate this
the level will hold but move lower towards the 400SMAs.
Divergences that had been building for several months came to pass.
3x and 4x divergences take time to resolve, we are nowhere near this in
time.
As this unfolds it will fool a great many who have been trained to BTD.
Inexperienced Traders are now touting Dow 37.000.
Not going to happen, Price has a great deal of work in a Southerly Range.
The Flash Crash began and ended yesterday. It will be back in force again shortly.
Creating Lower Lows.
We will see where the Backtest attempts to gain its FILL. The trendline or the
Gaps above.
There is no Gap and Trap, our indicators remain Bearish.
Pirce has failed the Momentum Line.
The 100 SMAs were tested, for now, the 50SMAs could be backtested with an
overthrow.
ROC's should return to their respective Centerlines @ 0.
Micro Counts completed, a reversal is to be anticipated.
_______________________________________________________________________________
Any retracement higher will be met with further and intensifying SELLS.
"Buy the Dip" will be crushed again, after this retracement.
The VIX remains the Guide.
Trade Safe and Prosperous.
- HK
VXN, no different, the pullback towards its Support from the Measure move of
the GAP to the Highs.
The indices will complete their retracement measured moves ahead of the
FOMC tomorrow, entirely normal after yesterday's extremely large Volume Sells.
We anticipated a Retracement back up ahead of the FOMC. It is normal and useful
as the SELL Fills in the DOM await.
Price will move to its 200SMA after this retracement is complete.
The Die as they say is cast for Lower Prices, as we have indicated the 200SMAs
will not hold but create a failure towards the 400SMAs.
_________________________________________________________________________
NQ - Daily Range 14807 - 15708
The retracement Levels for SELL Fills:
15258
15364
Gap Fill Open
The Objective is 12754
_________________________________________________________________________
ES - Daily Range 4294 - 1550
The retracement Levels for SELL Fills:
4421
4452
Gap Fill Open
The Objective is 3982
_________________________________________________________________________
YM - Daily Range 33478 - 35548
The retracement Levels for SELL Fills:
34512
34753
Gap Fill Open
The Objective is 28.200 to 31,000
________________________________________________________________________
Summary
Market Structure observations proved to be correct. The Trade Plan was executed and
closed successfully.
The Markets are weakening and moving to their 200SMAs, we do not anticipate this
the level will hold but move lower towards the 400SMAs.
Divergences that had been building for several months came to pass.
3x and 4x divergences take time to resolve, we are nowhere near this in
time.
As this unfolds it will fool a great many who have been trained to BTD.
Inexperienced Traders are now touting Dow 37.000.
Not going to happen, Price has a great deal of work in a Southerly Range.
The Flash Crash began and ended yesterday. It will be back in force again shortly.
Creating Lower Lows.
We will see where the Backtest attempts to gain its FILL. The trendline or the
Gaps above.
There is no Gap and Trap, our indicators remain Bearish.
Pirce has failed the Momentum Line.
The 100 SMAs were tested, for now, the 50SMAs could be backtested with an
overthrow.
ROC's should return to their respective Centerlines @ 0.
Micro Counts completed, a reversal is to be anticipated.
_______________________________________________________________________________
Any retracement higher will be met with further and intensifying SELLS.
"Buy the Dip" will be crushed again, after this retracement.
The VIX remains the Guide.
Trade Safe and Prosperous.
- HK
Comment:
Pulling back to FILL @ 22.22
