MikeFunktastic

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Joined USA
Markets Allocation
100 % indices
Top Mentioned Symbols
SPX 100% | 2
MikeFunktastic MikeFunktastic SPX, W, Short ,
SPX: VIX divergences
416 0 0
SPX, W Short
VIX divergences

VIX divergences often lead SPX tops. Look for the VIX to break out of its range for confirmation that top is in. Price target is 1482-1497, provided that VIX bounces off of resistance.

MikeFunktastic MikeFunktastic SPX, D, Long ,
SPX: Trend is still intact
512 1 1
SPX, D Long
Trend is still intact

Although bears did a lot of damage the past few days, we are sitting on the 50-day EMA which acted as support in the previous dip near the end of February. Don't fight the trend. Stay cautiously bullish until the trend line AND the 50D EMA are both taken out. Otherwise, this is just another bear trap.

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