🖼 Daily Technical Picture 📈 ➤ Equities continued to sell-off but not aggressively. It wasn't the kind of impact we have had on previous interest rate decision days. That being said, futures are down further in Asian trade. ➤ Let's have a look at the last couple of topping formations of the SPY at previous peaks in Dec 2022 and Feb 2023. If we have just witnessed...
TVC:VIX gaining some momentum on the daily but cannot deny the damage that was done to it last month #VIX is a tad harder to chart but it does look like it wants to bottom here Opening AMEX:VIXM put selling strategy = bull Keeping tight stops @ support levels
good eve' decided to share my full local count of this b wave. --- i'm basically looking at it as a double zig-zag from the lows. a double zig-zag is a 3-three-wave move (labeled 3-3-3). it channels beautifully, and it aligns with my general outlook over the next 360 days. --- once this b wave is completed, the market should enter into a c wave, which i also...
🖼 Daily Technical Picture 📈 ➤ Sharp drop in equities accompanied by a spike in the VIX. It seems the market didn't like the taste of abnormal low vol. It wanted things to get back to "normal". As a Trader, "normal" is good although sometimes we end up on the wrong side like today. Bring back the Volatility. ➤ The Strategy did as it should by halving the position...
• Gold is highly benefitting from the fear and uncertainty in the market which is likely to persist • Markets are again assuming a recession coming • Banking sector latest dilemma is adding to the fear sentiment • Rising interest rates, hard landing caused by FED continuous tightening policy along with signs of stagflation all add to the bullish price action...
AMEX:VXX TVC:VIX exploding higher today Nice move in the TVC:VIX Daily Chart today
🖼 Daily Technical Picture 📈 ➤ An attempt to break above the Feb high fell flat. Literally. Equities ended where it started, slighty down from Friday close. It isn't a good look. ➤ Over the last few days, there has been a deceleration in the up move evidenced by the smaller candle sizes or price bars. It's like a car decelerating towards a known barrier ahead. It...
SP:SPX hit the level called NOW WHAT?! Intraday (NOT PICTURED HERE), look @ RSI, we see 15 - 30 Min weakening 1HR looks fine 4HR not oversold but showing negative divergence AGAIN, as we've been stating for some time, HARD CALL TVC:VIX gave up DAYS ago! This is the 2nd Week it's BREAKING the SYMMETRICAL TRIANGLE (BEAR FOR #VIX!)
The VIX is the volatility index of the SP500. Generally, it trends up during bearish times and trends down during bullish ones. In the past, the VIX has always spiked up during a market bottom. Looking at the chart, we can see that the VIX has not spiked up yet and formed a bottom like it has done in the past. We only have ~30 years of VIX data, but it has...
AMEX:SPY experienced a significant sell-off at the beginning of the past week, followed by a strong bounce near YTD highs. Undeniably, technicals appear bullish due to the strong bounce, particularly with TVC:VIX volatility subdued. However, given the upcoming #FOMC and NASDAQ:AAPL ER, I'm watching for volatility to resist further suppression. This pivotal...
🖼 Daily Technical Picture 📈 1 May 2023 ➤ Bullish sentiment drove prices higher once more on the last day of April trade. The momentum is building to take out the Feb high at 418.31 on the SPY. This level is important if looking at the monthly chart. A monthly close above this level will in my opinion bring about the beginnings of a longer term bull market. Will...
What in the world is going with TVC:VIX ? Was short term bearish, was right (not posted here, sorry, see our profile) However, we made case for longer term scenario NASDAQ:MSFT NASDAQ:AAPL & others have PE 30+, crazy BUT #StockMarket = IRRATIONAL SP:SPX really looks like top retest is in play May is 4th best month over last 20 years Aprils IS the best...
🖼 Daily Technical Picture 📈 ➤ An aggressive pump higher today in equities, undoing all the Bear's work over the previous days. The Bears are banished...or are they? ➤ It does look like one-way traffic at the moment. The Bulls have control. The only issue I have so far is their inability to close a month beyond the Feb 2023 high. This monthly high close (and...
🖼 Daily Technical Picture 📈 ➤ At an index level, equities couldn't hang on to early gains and retreated for another day. The price actually closed a minor gap from the previous uptrend as shown by the blue arrows. Note that there is a minor gap higher and a large gap lower from current levels in the SPY. The question is which one will get filled first? Comment...
Watching the VXX, the VIX ETN, can be quite interesting. It has its own idiosyncrasies, but over the VIX index, this ETN has volume data and charts better than the index on patterns, break outs and break downs. It appears that there has been a bullish divergence of the technical indicators particularly the VolDiv, and less so on the MACD. Nonetheless, it is...
🖼 Daily Technical Picture 📈 ➤ From sitting pretty to pretty ugly. Today's price action has upended the bullish thesis that I was building. However, one ugly day doesn't mean things will now completely reverse. We need two days...OK, I'm just kidding. But on a serious note, the balance of power between the Bulls and Bears have seriously swung towards the Bears. ➤...
In this post, I will present a market analysis with a focus on recession metrics and indicators. Right now, many of them are sending a recession warning. Home Prices - U.S. home prices are surging higher at the fastest quarterly rate of change on record. (See chart below) This extreme rate of change in home prices is occurring as U.S. 30-year fixed mortgage...
🖼 Daily Technical Picture 📈 ➤ Equities is proof that the world is flat. Flat and dull. I'm kidding, that's just Singapore. Although just after US market close I felt a light shake of the building evidenced by the swaying window blinds. I believe that was the tremor caused by a large earthquake off Indonesia. That was pretty much all the "excitement" for the...