We can look at VIX vs SPX chart: two bottom areas VIX match two up areas SPX. What can we expect in the near future?
Scenario 1: VIX up matching SPX down (double top @1420 for SPX)
Scenario 2: Vix sideway matching SPX up (ElliottWave thoerists could see a 5 wave, i think).
Share your thought, please
GBPUSD breaks up 50% Fibonacci retracement, multi swing resistence level @1.5775. Good accumulation period mid-June to mid-Aug. Dynamic support @1.5550. Ok, we estimate tp @1.605 and 1.625 eventually. I think this trend is driven by USD weakness, not GBP strengthness. Stop @1.550
CRB Commodity Index seems to draw a"cup with handle", isn't it? Ok, if it's true, above 310 we can get a bullish signal with target 350, an interesting resistence level (short-term target @325). Stop @295.
Facebook seems to be narrow in 20-19$ range. Price's bearish, Volume's bearish ( minus per minus = plus?), momentum and strength neutral. We cannot say Buy or Sell, but Wait for a good signal with high probability. Upside above 20, target 22.45 (double short-term swing resistence), then 25.50 (close the gap).
After 3,5 months in a sideways movement, Gold breaks up 1625 resistence. Based on technical chart we can expect a bullish short term uptrend to 1738. We wait for a closing value above 1625 to confirm the signal, with stop loss under 1585. The trend is correlated with EURUSD, that's in uptrend at the moment, above 1.2450.