Hi, all! I think yes, for me. Things are tense globally, and prices are...well high. I think we have not yet seen the ATH on the SPY and subsequently I think the UVXY will get close to its ATL if not touch it and play around it a bit before we see a correction in the broad markets which should, IMHO, send this security soaring for a very nice risk/return...
US Futures continue to drift sideways in what is shaping up to be another mind numbing day of price action. The S&P literally hasn't moved more than a couple points since last Friday. European and Asian markets were broadly higher, and the Vix slid back to a 16 handle. It's so frustrating watching the same meaningless price action day after day. But, both Biden,...
Looking at the 1st resistant level,The candles have to reach the 2nd resistant level in order for the market to breakout and become a wonderful Sell.
This has successfully completed this triangle Elliot wave at the tail end of this larger triangle that GME has been trading in. I'm curious to see how this plays out and if there will be any catalysts that will make this move up further or make it go parabolic. I like the correlation that this has with the volatility index and also curious to see if this will...
Please do not trade or invest in anything that you do not fully and completely understand. This is absolutely not advice or a recommendation. This is strictly a crazy idea that would be crazy if it happened. And, I actually hope it doesn't. But if it did, whoa. Right? Whoa.
Be careful out there, play defensive and smart. Minor bull trend is playing out. Lots of FUD in the market, big money likes to hedge. We also have record levels of margin out there which explains some of the volatility we've been seeing. Goblins running amok.
After a strong 7Y YST auction, the US10Y yield just broke out above the 21 day EMA. We're back at 1.615%, and poised to blow up as the week progresses. This recent buying frenzy in bonds may be exhausted, and yields could be poised for a solid spike higher (potentially on Powell remarks about future monetary policy tightening tomorrow). Fed QE bond purchases are...
UVXY is testing critical support as we speak. We're approaching oversold levels on the hourly time frame, and coming off oversold levels on the daily. The US Majors are overbought across the longer time frames, and sitting at their ATH's. Hmm. Double up, or triple up?
There's a possible trade here on GME. We're at critical resistance, and seeing an initial rejection. The daily RSI, as well as the MACD are looking bullish. We may see a breakout above the triangle, leading to another epic short squeeze near the ATH. Having said that, this would be a good time to trade extremely tight stops, as the broader market is potentially on...
VIX at pre covid lows, after breaking above falling consolidation now went sideways just below horizontal levels. No follow up on downside signaling subtle tension running behind but not major spike to go in danger zone yet.
Vix will go up. The main reason is clear: Market is overbought.
The RSI has gone from 96 to 57 on the daily timeframe in just one week, and we're looking at a sharp bounce off the 21 day EMA (as expected) . Buy the dippers are going to be lining up to grab the (perceived) discount, so imo there's a tradable bounce here back near ATHs. Let's see how next week shapes up, and if potential weakness in equity markets (and bond...
DOGE RSI at 96 on the daily timeframe. We're looking at a log scale which is showing potential exhaustion of the rally. Trade with caution...
Volume today and this past week on VXX has been significantly higher, showing accumulation and bullish divergence. Significantly oversold now I think the issue with options today or not knowing about the reverse split pulled in a ton of shorting which should add a short squeeze catalyst to a rocket fueled takeoff. Biden set the primer with a higher tax increase,...
The US10Y yield has seen persistent support at the 50DMA since August 2020. Let's see if the 21 day EMA converges with the 50 potentially reversing the recent rise in yields, or if we see a strong bounce off the 50DMA, and continue toward the 2% level, putting pressure on growth oriented equities.
M1 : Still above the long term support trend line (to be confirmed at month end closing !) W1 : Within an ongoing downtrend channel, in a downtrend (red line) and below the clouds. Still below all important indicators such as Mid Bollinger Band, Tenkan-Sen and Kijun-Sen. Nevertheless, this week price action is showing, for the fist time since several weeks, first...
Successfully broke out of this descending wedge and breaking past the 1/1 Gann fan barrier indicating possibly the start of higher moves to come if closes above barrier. What Biden just announces about raising capital gains tax definitely was a good little match to start a fire in uneasy markets. What this does is incentivize selling this year but we have to see...