Very little market hours upward movement. Vast majority happened in overnight gapups. 73% in the DJI according to @Dr_Roboto... If market slips even a little, the whole thing could come toppling down!
I'm not invested here, just trying to track my sleeper SPX short signal! Not even sure how these indicators play outside stocks but lets find out :). ADX sitting pretty for a strong trend change. MACD already signaling it. DPO and ROC set to spike up. RVI tends to be a leading indicator for RSI and this is a kind of divergence I've never even seen in stocks but...
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...
The market survived another day by the skin of its teeth.
ROC not fooled anymore, flipping back to hard sell. RSI hard sell and downtrend signal right now, RVI drop leading indication for more RSI drop, more divergence the better. RVI called the June 4th RSI support cross fakeout but is under RSI now meaning an RSI support break will likely lead to a stronger downtrend. MACD cross with plenty of downward space. ADX...
I've been telling everyone to wait till Friday all week so lets see if I know what's up or not. If not, oh well, may be a week early haha. Love the setup here though... everything pointing to downtrend. Downtrends lead to panic and panic leads to crashes when economy is on a wobbly foundation!
I've been shit-posting all over about waiting for Friday so looks like tomorrow is the big day! I've clearly been a bit early to the party here but man, all indicators holding strong B) RVI/RSI primed to pop. Love that ADX spike! Market buying edged up (TRIN) but still soft buy zone... zombie bull.
Alright guys another successful day! But wait... SPX set new highs!? AHHH time to meltdown and unload everything! Not exactly. New SPX highs should be followed by new VIX lows and ESPECIALLY 2x TVIX lows in a proper bull market. This has yet to retest May 12th low and is sitting halfway between two major supports and just under the diagonal support and within...
Haters already comin outta the woodwork! That means we're on to something guys B). Apparently setting a new high by a few points is proof that this market is about to sky rocket and all the bears are big, poor losers... oh poor me :(. Very interesting data point we have there. Lets see how the hopes and dreams investing strategy works out for ya lol. Living...
Price got caught exactly at my predicted resistance with the wick just popping above. Tomorrow is big decision day and there's just not enough supporting data to decide to go up. Let's see what Big Money and the Fed can pull out of their asses. They were hoping to spark a final FOMO rally by now but Retail is too exhausted and motherf%*king riots man, holy shit,...
Elder impulse, 10 day Enjoy...... Note that it trades below the 10 day on elder impulse red until a monthly candle turns green (circled in yellow) Targeting 264 for 3qtr2020
Got a tip that led me here: squeezemetrics.com Then had some fun playing with lines: ibb.co I don't put too much weight in any given strategy, preferring to average them all against fundamentals but holy shit was I surprised when after diving in from scratch to map the empty chart, it actually turned into a terrifying, accelerating and rising wave that's looking...
I can't lay off this damn SPX man. Here's my drop map for June/July. I'll think we'll touch 2100 before July end if not blow through it a bit, def by August end. There's not enough momentum to keep this afloat much longer.
I guess lets wait for next week and see if I'm right. So far I had expected it to raise a lot higher by now. I think by ramp projection is a week or two early maybe but I still think we've seen the bottom until we cross the red-line at this point. Not much to do but wait. I'm loaded, plenty of room if it spikes to 3200 too. Probably worst case before crash, if...
Walking right into the kill zone. POC should pull the price up along with this news cycle turmoil for the next couple weeks (starting tomorrow guys!). Here's the treasure map:
MACD looking to flip. ADX looking to flip. DPO very high. RSI as VPT screaming sell. RSI and RVI screaming sell. SMAs weighing heavy on market and indicating a sell. POC under price and signaling sell. Really hard to make any kind of bull case from technicals here. This is my last rundown on SPX before the creash probably (will start tomorrow and continue...