Itsallsotiresome

Itsallsotiresome

ES is in a chop shop. Why? It's because OPEX is tomorrow which will be a volatile mess. Also, sectors are rotating investors/traders. People are dropping growth stocks in tech for dividend stocks. Why pay an overpriced tech stock with no dividends when you can get an undervalued financial/transportation stock with dividends? It's a steadier, less volatile...

Itsallsotiresome

After experimenting with my natural gas channel, I think it's a success. Natural gas was in a channel since 2018. It will continue like this until people are back in the office/workspace. The biggest usage for gas were commercial and industrial buildings' energy, heat, and A/C. I won't see an uptrend channel until 1) the supply finally slows down and 2) demand...

Itsallsotiresome

This is gold futures at the 4 hour view. It seems that my channels are a success. Gold has been in an upward channel since September 2018. That's right. Gold was in a channel for nearly 2 years. The only exception was March 2020. Gold may face a pullback if the dollar rips to the upside. Currently, the dollar strength bounced off a major uptrend support...

Itsallsotiresome

NQ sold off briefly due to Netflix's earnings. However, it recovered quickly. NQ is still not in my buy zone. As you can see, if it's outside the buy zone, the bounces tend to be higher risk. Why chase the NQ when the NQ can come to you? I don't feel like babysitting TQQQ/FNGU shares if I pull the trigger too early. Now where is the actual resistance in the NQ?...

Itsallsotiresome

This is the VXN at the hourly. My VXN channels were a success... so far. You cannot trade the VXN normally. However, you can use the VXN to figure out when the NQ pulls back. When the VXN approaches a major support (bottom 2 green lines), that is the time to exit QQQ/TQQQ. The VXN acts like the VIX. It rises either due to traders ordering too many calls/longs at...

Itsallsotiresome

ES didn't get too far away. Everyone was looking for a resistance on the ES. I wish them luck on that. If you want to find the resistance for ES, you can find it in the VIX. The supports at the VIX can act as a guideline of where resistance would be on the ES. Now, VIX is not a purely inverse index. VIX goes in 2 stages. 1) VIX rises due to retail traders buying...

Itsallsotiresome

Investors and traders are leaving tech to go for better value stocks: financials and transportation. RTY rallied big time due to this shift in breadth. I am expecting a small pullback for RTY. However, from the looks of it, financials and transportation have entered into an uptrend channel. If you're going to short, short very, very carefully. It's probably...

Itsallsotiresome

ES at the 4 hour view. Resistance above held for now. ES is stuck since tech is bleeding, but financials and transportation sectors are rallying. That's actually a bullish move. ES may pullback since P/C Ratio is at below 0.65. VIX is also about to reach a support zone soon as well. That said, with liquidity rising and key sectors rising, ES may be setting up...

Itsallsotiresome

NQ at the 4 hour view. NQ is still in a channel. Liquidity is rising, so I had to mute out the lowest channel and move my buy zone up a little. Tech is pulling back due to 1) big tech is running out of shorts to cover/eat and 2) investors are looking for non-tech stocks that have better value to them. NQ needed a pullback big time. The VXN and P/C Ratio...

Itsallsotiresome

This is the VXN at the 4 hour view. This is the volatility index for the NASDAQ. Recently, I discovered that the VIX and VXN are in an angle since February. Knowing where their volatility indices will bounce would help with exiting longs. Remember, VIX and VXN are not purely inverse indices. They also go up when retail traders are buying calls/longs at a...

Itsallsotiresome

I modified my VIX channels after experimenting with today's trading session. The angles seems to work. VIX is not as clean as other indices, but the volatility runs seem a bit too orderly. The channel is where we are now. There is a second channel above. However, anything above the red dashed line will sky rocket. The blue line is the current wedge we are...

Itsallsotiresome

This is the VIX since this whole bear market began. I've noticed that the local tops and bottoms seemed a little too neat and orderly for a volatility index. I played around the angles. I see a channel that VIX was in. The bottom green dashed line was Nov 2018 to Jan 2019's resistance. Now, it's been support in June and July. Once it escapes that channel, the...

Itsallsotiresome Updated 

VIX ran out of juice this morning. It's no surprise. VIX just broke its previous wedge for a new pattern. Currently, VIX is back to its former upward channel from days ago. At the same time, it formed a new long-term wedge. The dotted lines are the upward channel. The dashed lines are the long-term wedge. The dashed lines were from February and early March....

Itsallsotiresome

This is the ES at the 4 hour view. Banks earnings were today - especially JP Morgan and Wells Fargo. Why did the ES rally? FOMO bears. Everyone was expecting bank earnings to be bad. So, if everyone is already bearish , they already have short positions in anticipation of bank earnings . ES' projected supports were near the VPOC around 3115 or the flag support...

Itsallsotiresome

This is the FNGU ETF at the 4 hour. It's a 3x leveraged ETF for mainly big tech. Well, FATMANG stocks make up over 40% of the NQ - possibly more by now. This is one of my favorite ETFs to swing trade and scalp. The channels are aligned with the NQ channel that I published. FNGU found support at the middle of its channel... just like NQ. I am not sure how far...

Itsallsotiresome

This is RTY at the 4 hour view. I just said screw it with the channels for now until RTY makes up its mind. For now, RTY is stuck in a volatility box. The dotted lines are tier I support/resistance. The dashed lines are tier II support/resistance. You can swing trade while the price goes back and forth. At URTY/SRTY, that's still a 3-7% profit per day. The...

Itsallsotiresome

This is the NQ at the 4 hour. NQ bounced from the middle of the current channel. In the middle indicator, I put a green line for RSI support. The middle of the channel was where RSI support was. The cash flow was higher than the on-balance volume suggests. That means the end of day rally was a short covering rally by FOMO bears this morning. Apple was Atlas...

Itsallsotiresome

ES pulled back today. Why? RSI was overbought at the 4 hour view. Put/Call Ratio was at 0.67 before the pullback. Below 0.75 is considered overbought or a bit extreme. You know what's the crazier part? TVIX was delisted on July 12th. I guess Credit Suisse knew... ES is in a bear flag right now. ES and RTY's fate rests in the XLF and XTN/IYT. If financials and...