TF: 12 Hr VIX looks like it has retraced to the 0.618 level and might be a nice level for buying. Not something I trade, but I saw this on the chart and thought it might worth looking at. Something to consider: Markets have been pretty bullish lately, despite the COVID situation and possible long-term economic downfall. Markets have been acting strangely lately,...
Not much to update, touched up the new support channel zones for reference. The darkest hour is just before sunrise!
Title says it all. This also aligns with my Elliott Wave analysis.
VIX Long Position 13:55:21 (UTC) Wed Jun 3, 2020
At the bottom, everyone is freaking out and selling... VIX is spiking, TVIX is at $1,000, there's "blood on the streets"... it's a level of selling that is capitulation... people are finally suffering too much to hold on to their shares and they sell them... mass selling happens at that moment. But so does mass buying. The smart money buys at that level. Now......
Alright guys another successful day! But wait... SPX set new highs!? AHHH time to meltdown and unload everything! Not exactly. New SPX highs should be followed by new VIX lows and ESPECIALLY 2x TVIX lows in a proper bull market. This has yet to retest May 12th low and is sitting halfway between two major supports and just under the diagonal support and within...
$GLD will outperform $SLV moving forward
I believe the top is in for equities. Bearish Rising Wedge pattern on ES vs. Bullish Falling Wedge pattern on VIX. ES RSI also getting rejected at Feb 19th level and now turning down.
I expanded the kill zone a bit here guys, nailing the swing up was always a bit overly optimistic :). 2nd bar today kissed the top horizontal support channel and held above the bottom diagonal support channel. Still right on track. Fundamentals vs the Fed, lets see who wins. The indicators are betting on fundamentals coming out on top.
This could be the one you tell your kids about. Civil unrest, worldwide pandemic, swarms of locusts, etc. this looks like the perfect time for a SERIOUS correction. Also, that bull flag looks sexy AF. *This is not financial advice.....
Ratio of stocks>MA50 v stocks>MA150 diverging near base