SPY monthly RSI is 76.75. Remember the RSI pattern we discussed recently? Look at the RSI from Jan 2019 to Feb 2020, and then look at the RSI from Feb 2020 to Jul 2021. That's an almost identical impulse wave. What comes next, if history is any indication, is a massive, unexpected, market crash. We'll have to wait and see how the wave plays out...
Idea for Black Swan: - Watch cyberattacks on key infrastructure. - WEF is an open book. - It is the catalyst. GLHF - DPT
Long UVXY 30P Aug 6 4.20 debit Since its confirmed to be a backside move, scalp the downside
As the majors drift sideways on Wednesday afternoon, after a bullish morning, Vix is at the LOD (18.16). When you look at Vix from the weekly timeframe, the trend is quite pronounced, and we're at solid multi-year support. It looks like things are going to get very wild, very soon, and from a macro perspective that makes perfect sense. I'm well positioned for...
Similar to last year March when markets crashed 35%, the US10Y yield is crashing today, with the majors bearly off the ATH's. Will this divergence end the same way - with bonds as the safe haven of choice? Something tells me we're very close to finding out...
SPY down 2%, Vix up 30%, yields crashing (similar to last March's divergence). If buy the dippers think we're oversold at these levels, I invite them to have a look at the monthly timeframe. Brace for impact...
Here we go, folks! After an ugly opex on Friday which saw 30% of SPY, QQQ, IWM, and SPX options expire, leading to heavy selling across the board, futures are extending losses on Monday morning. As of 9AM, the S&P is down -1.21% to 4,266.12, the Dow is down -1.44% to 34,067, the Nasdaq is down -0.95% to 14,532, and the Russell is down -2.22% to 2,113. European...
A little background on myself as this is my VERY FIRST EVER POST. Like most of us on here, I have tremendous goals in life and don't want to settle for "being average". I grew up below the middle class by a single mother of four kids that worked two full time jobs to provide for her kids and I couldn't afford university. I have worked in the oil patch in Alberta...
We're either seeing a breakout here on the S&P500 Futures/M2 chart, or this resistance level, which has held up since 2001, is about to spoil the bulls party. Look at the last impulse wave toward the resistance line in yellow. We're stretched, but we're seeing the same pattern, folks. Trade accordingly...
After this morning's insane inflation print (YoY CPI of 5.4%), the Dollar (DXY) is being heavily bid (again). We just saw a rejection at the wedge this morning for the 4th time in a month. It's been a bumpy ride, but if the wedge is recaptured on broader market weakness, our 2H target remains 95+...
US Futures are trading marginally lower on Tuesday morning with the Dow down -0.16% to 34,821, the S&P down -0.21% to 4,369, the Russell down -0.37% to 2,268 and the Nasdaq down -0.4% to 14,865 as of 8:50AM. We saw June CPI come in extremely hot moments ago at 0.9% vs the 0.5% expected, while Core CPI also came in at 0.9% vs the 0.5% expected. We're talking YoY...
I 100% do not want to bet up or down as of now. Everything is too risky unless we were to confirm one way or the other with rising rates, increased taxes or something big announced. RSI levels are not insanely oversold as of now. We could do a massive breakout, followed by then the massive crash...
See you at the bottom. Nuff said...
AMZN is seeing some pressure here after hitting a new ATH yesterday. We're coming off overbought levels, and likely to see a retest of the recent range as early as today. We've seen strong support at the 200DMA (3,233), so a retest of this level is likely to result in a bounce back toward the upper band of the range. There's no question Amazon is overbought, and...
Bitcoin (BTCUSD) is getting hammered here at the top of the morning session. We're down almost 4% on the day, and heading toward weekly support. If we lose the 30k support we're likely going to see a test of 20k where the 100MA (w) is sitting...
AAPL is seeing a rejection here near the ATH. We're likely going to see a retest of the lower ascending trendline around 128 before another potential test of the ATH. Having said that, we've been seeing elevated valuations for quite some time, so we may lose the ascending trendline support on the next test if the broader market sees a notable correction...
US Futures are tanking on Thursday after a rough overnight session saw the S&P fall back toward it's 21EMA around 4,269. As of 9AM the S&P is down -1.3% to 4,294, the Dow is down -1.3% to 34,124, the Nasdaq is down -1.32% to 14,607, and the Russell is down -1.85% to 2,207. The Russell is down around -4.28% on the week, and has lost critical MA supports,...