The XLF is a major decision point. It's at the end of a wedge within another wedge. The solid green line at the bottom is flag support. XLF needs to maintain that flag support or it will take a trip to below $22. Bank earnings are tomorrow. JP Morgan and Wells Fargo will set the tone for what earnings will be like. RTY and ES' fate now lies with the financial...
RTY broke below its upward channel again. It looks like the downward channel is taking over. It seems the price action is coordinating with the downward channel's buy and sell zones. Banks' earnings are tomorrow. JP Morgan and Wells Fargo will set the tone for earnings season. If RTY is indeed in the downward channel, then look to short the bounces. If RTY...
This is the NQ at the 4 hour view. As suspected, the NQ popped above my channel and got hammered back down. This is why you do not long above the channel. The markets will find a way to punish greed like that. I am not sure if today was a one time pop or if it unlocked another sub-channel above. If there is another bull run from the bottom of the channel, then...
Bears tried to short Netflix, Amazon, and Tesla again. Their short covering absolutely pumptarded the NQ out of its 4 month channel. I was experimenting this resistance 2 weeks ago and didn't think I would use it. Here is the last resistance I can think of for the NQ. I am not a financial advisor. However, I would not go long when an index pops above its...
VIX is about to make a decision soon. The green line is major support. The red line is major resistance. T-minus 3-6 trading days before VIX breaks its long-term wedge and make a decision. It's stuck between flag support and flag resistance. Judging by how the price keeps slamming to the flag resistance and the P/C Ratio is low (below 0.75), probability points...
ES gapped above the resistance from February and June which was at 3181 last Friday. After 3200, the next historical resistance is that second red line at about 3252 now. That second red line stopped the ES back in June at 3225ish. It was support back in 2017. Let's see if it can stop it again. Liquidity is increasing within the market's internals. So, bears...
This is the UVXY at the hourly. I think I found indicators that help predict a VIX bull day. 1) The purple lines on the chart are the Bollinger Bands set at the daily scale. 2) Middle indicator is the Divergence Indicator. It's the RSI, but helps identify divergences with RSI. 3) Bottom indicator is the MACD Divergence Indicator. Essentially, if the UVXY is or...
The ES is stuck between a key resistance (red dashed line) from February and a key support from early April (green dashed line). That support served well for bigger bounces. The ES is about to make a decision in the coming weeks. That's assuming that bears quit short covering the ES to above 3200 early.
This is the VXX (ETF for VIX Futures) at the 4 hour view. The green line acted as support back in February when the crash happened. The top two candles then formed a resistance line ever since. I have the end of this triangle in the middle of next week. This battle isn't over yet. If the wedge breaks to the upside, then volatility may be back in the market. As...
This is the gold futures at the daily view since 2018. I was fooling around with wedges and channels. All I can say is, "oh my God. Gold was easier to predict that I thought. It was in a general upward channel for 2 years. The green lines are the buy zone. The red lines are the sell zone.
This is natural gas at the daily view since 2018. I was fooling around with wedges and channels. All I can say is, "oh my God." Gas was easier to predict that I thought. It was in a general channel all this time. There were bull runs that made their own mini-channels, but once gas enters into that downward channel again, it becomes predictable. Due to the past 2...
Today blew off the top of my previous channel. I had this channel for 1.5 months and served me well. Why did the top get blown? You can blame it on bears (link below). There were a lot of eager bears who shorted Netflix, Tesla, Nikola, and Amazon too early. Thanks to their shorts covering, the bears pumptarded the NQ and blew off the top of my channel. The good...
This is the RTY at the 4 hour view. The RTY is between 2 channels now. The two white lines are the bottom of my former uptrend channel. I'm showing that the RTY is at a crossroads between an uptrend channel and a downtrend channel. The RTY's fate really depends on the financial sector (XLF/FAS). I'm aiming for high probability, high reward support and...
This is the NQ at the daily view. It's been in a channel for nearly 4 months ago. It somehow survived the recent bull runs. You don't need all the fancy indicators. Sometimes, all you need are the basics like pattern recognition. My bias is going long at the bottom of the channel. If I were to short, short small positions at the top of the channel. It's a rising...
This is the VXX at the hourly. The VIX has been stuck between a downtrend resistance and an uptrend support. This wedge may end either tomorrow afternoon or Monday. VIX is setting up a pattern for a possible breakout. I am saying that because I see a bull flag pattern at the hourly now.
This is the ES at the 4 hour view. The only thing I can confirm is that there is a downward resistance and that's the dashed red line. It is possible that the ES is between an uptrend and downtrend channel. If it has, then short near the top of the channel and long at the bottom.
This is the RTY at the 4 hour view. After the RTY broke the bottom of my upward channel, I had create new ones. This is still unconfirmed. There is a possibility that the RTY is between an upward channel and a downward channel. What I am showing is the downward channel. It will be edited as I get more data and a confirmed downtrend. The red lines divide up the...
NQ poked the top of my channel (red dashed lines) again and got hammered back into the channel. I should've shorted when I saw the bearish divergence at the MACD. Oh well. The NQ is still playing around my sell zone. That solid red line is a historical resistance. The dotted red lines are sell lines that indicate the layers of the sell zone. My strategy still...