There is a HS pattern forming here! Light volume may not let it work!
GDX is developing a bull flag! It may try $34 level!
There is a disconnect between market and Oil. First half of the year there were inseparable!
If we don't come back above $45.80, further downside is imminent!
LOWER LOWS and LOWER HIGHS!
This is a hit and run trade! It seems to me Britain remaining in EU is already baked into SPX500! Now, there is more reward to bet against BOOKIES!
OPEX has passed so do BREXIT fears! There is an IHS with target objective of $2115
USO is pulling back. We are heading into a major support and we can play the bounce!
Every time VXX closed above 21 DMA, market turmoil hits up! This time couple of strange things are happening as well: 1. US Market just pulled back 2% and VIX fired up 80%! 2. VIX is at ~$21 and S&P500 at ~$2080 ( VIX is too hot)! 3. Volume is not too high! 4. US has decoupled from rest of the world while they are down 20% From All time High, US is down just...
If BREXIT wins, we will get into a bumpy market! Yet, market sellers don't have the momentum and I am not convinced to be fully bearish!!!
Market has not even taken out $209 level. We should see a lower low which at this point and time, it means close below $202.70! Meanwhile play the bounces at major supports!
Market is not far from the top but VIX has started his move while market was climbing higher! Someone knew BRITS is going to take back their independence! BTW, NEXT WEEK IS QUADRUPLE WITCHING !!!
Solely a gap fill play! Volume is minuscule to be bearish. This look to me algos are hunting the stop losses!
FED doing one thing right and it is pumping S&P 500 to all time high! I bet we will have new all time high by end of this week.