Very BEARish on the S&P right now, and really all major indexes, especially the Russell and Nasdaq, but I mainly play the S&P through the VIX by buying leveraged VIX ETF's like TVIX which gives you 2x.
If we break 2890, we're going down to 2740 next to finish the bearflag measured by the vertical yellow line.
(note: I'm in hard bear mode and do hold a bearish...
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
It appears the ABC correction could be finished, although I recommend we wait until there's a confirmation, such as a small 5 wave up around the red or blue lines with a nice .5-.65 fib retracement that we can buy in at like shown.
Depending on how the markets open and futures go over the weekend, we could buy right here on the .618 fib level and bottom of the triangle.
We still have to finish the C wave correction, so we need to see this triangle hold. If it doesn't we could be looking at the $15.51 support for our next target because that would be a 1:1 ratio ABC correction
We must watch the lower yellow zone of the white upward channel and see if that holds. The RSI is diverging which tells me we might be starting a correction, but if we bounce and the RSI can break to new highs, we could continue onto the $13 range before a major correction.
I'm out for now to see what happens.
Silver reminds me of BTC sometimes with the wild swings it can have.
Right now I believe we're continuing the uptrend in wave 3 impulse.
Waiting for a pullback down to $16-16.50 before I go long again.
Ultimately we're going into the $20's for silver, so get ready.
As you can see, I don't think the world is ending as many have said, although we are about to see the large drop in the market continue into 2020 and possibly for the next year or so.
I recommend using the VIX to make some money as that has been working for me because you can profit off of people's overreactions.
I have my retirement plans completely in cash...
Many believe that we are going to test the highs of 26,700, and that may happen based off the momentum we gathered from the recent rally, but I don't like the smaller (grey) fractal you can see inside the larger (white).
Head and Shoulders is still in play IMO.
The weekly and daily RSI's are both showing divergence.
I think 3rd quarter is going to be nasty.
Bullish right now until further notice on ethereum.
BCH took lead, then LTC, and now ETH gets it's turn.
If you look at the weekly chart and trace the downward channel we've been in since the high's of last year, it appears we just popped out of that. Short term target is $144 but longer term could be $180 if we get even more volume.
Head & Shoulders completed with a high volume break through the neckline, and a successful retest.
Large corporate investors are also in on this. Gonna buy the pullback.
Short Term target = .26
Long Term target = 2.00