i used this swing strategy to develop hourly levels where i think resistance or support could occur. im long or short breakouts ir breakdowns of rangebound action here, and im long or short higher lows or lower highs forming around those levels as well in trending conditions.
spx futures 4000 has gone from a psychological level to a very important technical level. auto fib extend and auto vwap are telling me we have retraced enough for 4000 or just above to be stiff resistance in different paths or areas marked out with brush or horizontal lines.
i think the hourly spike in vix is over, but the 4hr might be in for some additional waves, followed by a daily bear in vix with a weekly bull trend still on. the road to 20 seems locked in, but were not averse to 30 in the mean time.
if we enter this sss suply zone and bounce we may have one of the green scenarios play out. if we fall beneath it and start confirming a lower high on some resistance beneath it we could be headed for one ofthe red scenarios. below pivot im looking at lower horizontals and above it im looking for higher lines.
we may get a second dip around this sss movingaverage as qqe has returned toshort, and a right shoulder may be forming around a potential 11952.5 neckline. sss bands have tirned red and indicate we may dip, but id imagine dips are still for buying unless we roll over
nq1! has started off showing signs of support only just holding the uptrend daily off of reversal on a potential neckline. im guessing if we resist around left shoulder area and break the neckline its bearish looking for around 12345, and if we break resistance around 12689 and come to some higher low we could challenge 13000. 12444 and 12666 are hourly levels to...