The rising VIX gave me the option to sell options for 350 $ each. Since all other indicators show that we have a short term correction, I sold the otion for a 60 day runtime.
Yesterday's failed attempt to break higher generated a nasty reversal candle. Please read more in my blog post here: chartingtrades.com
With bank earnings coming up this week, the line in the sand to keep an eye on will be the 2400 level. Breaking it will accelerate the selling into the 2385 level and eventually take us to the 2360 if buyers don't show up to enforce a bounce. Many analysts have been announcing a correction since last summer, and the uptrend has just expanded even more. My only...
Accurately suppose, uptrend will continue! That's all... ;)
The white fork is the major one. Price flows according to it's path. The blue fork is to watch for potential support/resistance within another dimensional (more sideways) flow. However - I see price coming down to at least the L-MLH of the white fork. May the forks with you §8-) P!
Just a potential wave count on ES_F I'd love to see your opinions, feedback, alternative ideas
Just a potential wave count on ES_F I'd love to see your opinions, feedback, alternative ideas
Huge distribution setup. You'd be insane to buy up here. Looks like we get another really nice sell off tomorrow! Risk new ALL TIME HIGHS.
Risk 10 points to make hundreds. Triple top daily. Double top weekly. Momentum suckage. You'd be insane to buy up here. Massive sp500 drop on tap! Hopefully tomorrow.
If you look at the VIX, the SKEW and the yearly high & lows of the S&P 500, you get a pretty good idea of the strength of the trend or the drawdowns. The lowest indicator is a sum up of all four values and gets RED as soon as 3 of those indicators are in a downtrend.
The dashed arrow comes from the prior post. As we can see, we cannot expect the market do immediately what we wish. But at least we have a clue, how good our assumption, tools & systems are. Now, we are at multiple resistance points, with ES below the centerline. Most of the time this is a no brainer, and my shorts are already in and working. Since I also...
Price fell below the centerline. Remarkable are the couple of retest's. Price could not manage to slip above the centerline again. There are two other possibilities left: either price go sideways, or down. Since price and everything moves in swings, I see the down swing bevor my eyes. The further analysis even give us a target, the lower MLH is one. Another one...
The charts shows that AdvanceDecline Line and VIX are showing the tops and bottoms of S&P price movement. You'll also notice, that ADL is changing direction a few days before the S&P 500 follows. VIX shows how "deep" the correction will be and when it ends.