VIXY just turned bullish on trend for Weekly view yesterday. We have close gaps to fill above to $20. RSI has bullish divergence on Weekly view. Normally goes to 70 before calming down again. Looking at VIXY, SPY, and AAPL together I think the bigger picture is we are headed lower. Market is overbought. All these charts are correlating together in direct or...
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. :) Indicators RSI trend on Weekly is maxed out and very close to breaking down...
Price was moving in white channel last night and broke into yellow Bear Flag pattern. This provided time for price to balance on the way down without shock. It also provides time for 10WeekMA to come up and meet price. Price goes below this red zigzag line and we continue down based on past history. Indicators RSI Trend line will be shown in Part 2 of 2 Next...
Exit Points Top gap fills or pink resistance line around $19. RSI at 75 exit. Last two bullish runs RSI topped around 75 before downtrend. I think we are just getting started here. Bigger money coming in! Unusual Activity 22K ATM Calls on VIXY purchased TODAY. John Najarian uploaded a video. Can't believe I beat this dude to the punch. Charts...
Happy to see some of my friends on here making money this morning. Glad we saw this coming! As we continue to work this trade, I have others into January and February. So things are stacking up nicely. :) Top gap got filled. Two more gaps below to fill (farthest gap down is $295). Exits for Shorts/Puts- 1st - RSI 30 - price will rebound upwards. Time exit...
Dow Jones is following the pattern from previous chart. Headed towards "first stop" on chart at 26,500ish. May continue to 2nd stop on chart. We all know that news lies to the public. But when the actual data reports are available they demand review. We should be reviewing the data personally to ensure it matches what news anchors are reporting. We are...
SPX confirming downtrend this morning - NO RETRACEMENT :) Filter Dots show trend is already mid-level. We can get to blue support line without a break. Watch for price to stop at 10WeekMA zigzag line. Will update chart around this time. Looking at previous downtrends, we see that RSI normally goes to 30 before any price pause/small retracement. We should expect...
Granted it took a little longer than expected..... short play starting to look a little better today!
Buy signal triggered on Daily. RSI divergence is bullish. RSI still at 30 ( oversold). Fisher Transform shows trend flipped bullish (need to watch to make sure trend stays bullish). Gaps to fill above price and past 10WeekMA. If price goes above red zigzag, then I believe we fill top gaps to $20. SPY is showing a Sell signal on the Daily. I will update chart...
Morning pop on SPX resulted in high of 3158. Blue lines on chart are support and resistance (more than 6 total points of contact). Price has barely exceeded resistance today, showing a topping tail (price exhaustion - no buyers). RSI starting today at over 70. RSI at over 65 for a month. Based on previous trends, we should go down to blue support. Break of...
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...
SPX / SPY - has been ready to correct for over a week. Fed Reserve assistance has keep this afloat longer than predicted. When this happens, the downturn is normally more severe since what is currently keeping us afloat is unnatural. Blue line - Daily ascending wedge - bearish pattern Yellow lines - 1HR ascending wedge - bearish pattern Green lines - Price broke...
SPX / SPY pink channel is at exhaustion. We either breakout of the blue triangle next week, or start our downward retracement. If we breakout of the triangle, all short positions should be exited. Based on the chart, I am staying in this position until next week sometime or 50% loss on this option hedge. Both were acceptable losses for the payout. This is...
SPX / SPY -multiple indicators suggest overbought and correction is qualified. However, with Federal Reserve putting liquidity without notice or disclosure to the public has lengthened the cycle. While this was unpredictable, this kind of action is unsustainable. After getting contradictions from some members, I objectively redrew the blue wedge. After looking at...
Note - When dealing with VIXY and other VIX derivatives, keep in mind these are "volatility" plays. This means using risk management, stop losses, and price alerts IS A MUST. VIXY and VIX related derivatives look to have some excellent short-term and long-term potential. This also confirms for me the SPY downturn coming. In the past, VIXY has closed all gaps...
SPY 4Day view is beneficial since this acts like "half a week". I find this allows to see weekly trends before they occur. Price trend on 4Day has broken white uptrend channel. Last several times there is no retracement back up after breaking the channel. The pink channel support line is the same level as the 200SMA(red line). This occurs on Daily thru Weekly...
AAPL on Weekly view confirms downtrend is just starting. We have hit the blue log resistance line (from Outter Space AAPL chart) and rejected. We saw this coming, so this is good. Based on current price trends I am currently in December Puts, looking at the April 2020 puts later. Good- We have broken white trend line and are at the top of the rejection. We...
SPY bullish trend has ended on Daily view. On Weekly view, we are about to turn bearish indicating continuation of bearish trend. We are following previous fractal well, but this is not exact. We have several upcoming events: -Fed rate meeting - 12/11 - expected no change but rate increase is rising on chart www.cmegroup.com -Britain Elections - 12/12 - committee...