A quick update to the Vix chart as we enter into the final important NY session of the year with quadruple witching. For those tracking the previous flows we remain in the same levels with the same targets and the same flows to track: After we cleared TP1 we ran out of steam and decided to trade the retrace back towards Capitulation territory. This was enough...
We see a nice nice Tripple Bottom indicated 1,2,3. I hope you ready for a great week.
Historical view. What's in store? ATL: 8.5. Typical reversal zone: ~10-11. Price now: ~13. This year we've had volatility spikes when VIX <12-13. Are we in for another frantic bull run that crushes VIX sub-10? Historically after three rate cuts markets rise 5-10%. Will we see SPX 3300?! If so, shorts will be just destroyed. Something to ponder... I've been...
The green, vertical bar is the bullflag pole length as the top yellow line, while the bottom yellow line is the 1.386 fib retracement from the correction down within the bullflag, which combined gives us a projected upside zone between the two yellow lines. The fact that none of the trade war meetings have resulted in anything tangible and traders nervousness...
Nice running flat formation here. The .786 doesn't seem to be holding so the best target is the 1:1 (which is typically a standard target). Could happen tomorrow or Wednesday, when the fed's July meeting minutes are reported. I'd recommend getting into position by tomorrow though because we could have a big jump in the opening price on Wednesday. Target = $15.25
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The Volatility Index is currently pulling back on 1D turning neutral again (RSI = 51.020, Highs/Lows = 0.0000) with MACD still bullish (0.780) but decelerating as it approaching the 1D MA50. Based on a similar pattern in 2018, the index should break below and consolidate for the next 2 months restoring stability back on the markets. ** If you like our free...