30Min view of SPX shows we stayed within the current wedge pattern for the most part.
There was a small increase above the resistance line which moved the tip of the pattern back by 7 hours. (I don't think this is big deal)
10WeekMA is coming from below like a shark. IMO we have less than a week before SPY/SPX turns down.
News - Steve Bannon was on CNBC this...
Weekly view on VIXY/TVIX confirms the trend should be flipping to Bullish by next week.
Weekly RSI trend has just broken to the upside.
Recently broke out of the shoe/banana pattern.
VIXY has followed this pattern for years, so I feel this is strong.
Everything is lining up to next week sometime we should see SPY go down and VIXY/TVIX go up.
Using the 10WeekMA for SPY we can see selloff's occur the last 3 times when price was within $8.60 or less of the moving average (red zigzag).
We are currently less than $8.60 from the moving average - but no selloff.
If we use the normal moving average on 64bars, and ignore the double jump up, by 12/13 price is closer than last selloff.
Last selloff price was...
SPX / SPY - the final wedge within a wedge pattern has little room left to expand further IMO.
Top white resistance line is multi-month resistance from Weekly view chart from 12/9 (see link below).
RSI trend is already high in position and short.
Bollinger Bands are tight. Going back in pattern, last time price angle like this with tight bands we have...
Posted in conjunction with my other chart "QQQ - Outter Space -Can DJIA, SPY, and QQQ all be ready to fail?"
Daily view shows pattern is at short term failure.
Longer term pattern failure, of ascending wedge, looks to come around May 2020.
Need to watch this after next correction to see if pattern failure occurs.
I feel we will rebound into next year with a major...
SPX / SPY is overextended and on a weekly basis has been bullish over 12 weeks.
This is abnormal with RSI on Weekly in the 80's.
But we keep getting these breakdowns, which lack momentum, and form back into same pattern.
Wedge which has resumed now ends on 12/12.
My SPY Puts are for 12/27.
I am going to consider getting some out into January if price falls by...
Jobs Report was released today showing an increase in jobs added.
To me, people working 2-3 part-time jobs is not adding employment.
Most people in this group need to work multiple jobs because of poor pay, causing inflated jobs numbers.
While the CNBC anchors say "goldie locks" for stocks, the charts show 12+ weeks of bullish trend indicating prices are...
Weekly trend for SPX/SPY is turning bearish.
We flashed a sell signal on the weekly candle yesterday. This is significant as this happens AT the turn down.
0.618 Fib Extension is around same level as 10WeekMA. The blue support is around 0.50 Fib Extension. Multiple things line up. :)
RSI trend on Weekly is maxed out and very close to breaking down...
The 0.618 Fib Level on recent price spike will fill top gaps down to $304.
The 0.618 Fib Level from February 2009 until Present (10 Years+) coincides with past resistance/future support levels from August 2016.
The lower 0.618 Fib Level would have SPY at $214 roughly.
Next week we should find out if we have a small correction.
It may take into January to see if we...
VIXY and VIX derivatives are ready to spike.
RSI, MACD, Fisher Transform, and Filter Dots all show reversal coming in next 5 business days.
There are 4 gaps to fill, indicating a possible 44% positive correction to around $20 for VIXY.
The reversal period is short here. I believe it may last until Christmas.
Going to green curved line (Gaussian Channel midline)...
Based on the Daily trend with AAPL, and the high correlation with SPY, I see us taking our trip down before year end.
The moving average is too close to price with AAPL.
The blue resistance line is multi-year (forming in 1998 see Outter Space Chart) and I don't see price going beyond blue resistance by more than $10.
By next week the 10WeekMA will be around $263. ...
VIXY/TVIX showing a Buy Signal on the Daily yesterday.
Yellow bull flag formation (kind of sloppy but its there).
Price currently broke out bullishly.
10WeekMA is reaching out farther by the day to reach price. Rate is currently $1 per day closer to price (which is fast).
If we cross 10WeekMA, price should continue higher.
Based on current rate, 10WeekMA should...
SPX and SPY both confirmed a hangman doji for end of week last week. :)
This bearish doji normally signals a reversal in price trend. en.wikipedia.org(candlestick_pattern)
I am seeing a bearish pattern ending last week, bearish pattern premarket today, and bearish patterns.
Weekly view shows same view of white 30Min wedge, inside blue...
SPX on the 30Min is showing we are consolidating in a wedge.
An ascending wedge is a bearish pattern.
If you ask me - having a wedge, in a wedge, in another wedge should be extremely bearish. LOL
We are in a white wedge (could be ascending wedge based on support angle), inside a blue ascending wedge, which is inside the main multi-week white ascending wedge.
Weekly view of AAPL confirms downtrend is just beginning.
RSI trend is about to be broken. Weekly RSI is overbought at 76+.
Bullish trend is overextended. Weekly Bullish trend has been going since Sept.2nd week.
16 weeks bullish trend was longest recently (after December 2018 selloff). 12 Weeks is overextended.
AAPL is hitting blue resistance line which has...
Do you see the repeating pattern???
What I see -
So this is the Outter Space view where we see this massive wedge building since 2007.
By August 2021 we are either going to go off the roadmap or there will be an epic meltdown.
My guess is that $13 Trillion in sovereign debt and QE will eventually be the karma for the meltdown.
Let me know what you think or what...
MTUM is the ETF ticker which tracks momentum.
The pink lines show a megaphone pattern, which is bearish when tilted up. education.howthemarketworks.com
The inner white trendlines of the megaphone show price hitting the angled resistance.
The angled resistance crosses the current white price trendline on 12/13.
Going back in...