cbenedetto10

cbenedetto10

Seems to be trading in a descending triangle pattern using $118 resistance level as the base. I think we go up to the upper trend line at least one more time before the pattern completes.

cbenedetto10

Spy is due for a pullback soon. Depending how earnings go today through the end of the week I believe 476-478 is a good target zone. I'll update this as it progresses.

cbenedetto10

Rsi has been in bearish divergence most of the day today on 1 hr and smaller time frames. I assume we'll retrace back down to the 185-186 range early tomorrow. (could even possibly go for a major gap fill before rubber banding back. *significantly less likely*)

cbenedetto10

This is sort of a repost. I posted the idea an hour or so ago but didn't realize I'd made it private. The original idea as well as the explanation is below.

cbenedetto10 Updated 

Diamond top on the DXY hourly chart, signaling a reversal of its current slight uptrend. I don't have much experience calling out diamonds, so I'm leaving my post as neutral since it may be incorrect but figured I'd point it out for others anyways. Personal sentiment is bearish

cbenedetto10

VIX has bullish RSI divergence on the 1hr timeframe. 20 SMA is switching from a resistance roll to a support roll soon. 50 SMA is acting as resistance line for falling wedge. 100 SMA and 200 SMA will converge and act as heavy resistance and prevent full breakout of wedge. VIX will fall back inside the wedge to the lower trendline for a little longer. (I had...

cbenedetto10

Long by next week, short tomorrow. Also could be just long tomorrow. Just my analysis. Sorry if the chart is noisy/hard to follow. Tried to fit a lot of analysis into a single chart image. Two Possibilities in my opinion: 1. The H&S pattern completes and we retrace down to 180.5-179.70 zone. This could fill the gap from last Fridays close to Mondays...

cbenedetto10

Diamond top is still in play. DXY is pushed up against strong upper trendline resistance. This post is more of an update to my previous post. I expect DXY to hit 101.68 - 101.30 next few days assuming it doesn't break upper trendline.

cbenedetto10

VIX has formed a descending triangle along support of the rising wedge it's trending in. Medium to high chance it goes back down to fill the gap.

cbenedetto10

Ascending triangle nested within a giant rising wedge. I think we're set up for one more bull run before completing the wedge and falling out.

cbenedetto10

Ascending triangle formed. Seems like we're heading higher for a little while longer.

cbenedetto10

Looks like Microsoft is trending in a flag pattern, primed for a move up.

cbenedetto10

It's pretty self explanatory. RSI and price have diverged. Looks primed for a breakout of the wedge. Probably going up to fill the gap before going back down again. Short term long, longer term short imo

cbenedetto10

After JPow's conference today, SPX has just hit the upper trend line resistance of the falling wedge it's been trending in since January. I expect SPX to reject here and fall to around 3674 by EoY. SPX can then possibly bounce again or fall further within the falling wedge to support. VIX analysis for support- DXY analysis for support-

cbenedetto10

A few of my ideas this week turned out to be wrong so take this one with a grain of salt. I'm also realizing I might just be clinging onto the bearish outlook and my own bearish bias, but for some reason to me it doesn't feel like the bearishness in the market is done yet, short or long term. It seems to me like SPX/SPY is setting up the same megaphone type...

cbenedetto10 Updated 

So NFLX is hitting a triple top on the 2 hour chart, not a good look. ^Definitely seems like a triple top^

cbenedetto10

What does it mean when VIX and SPX are moving in the same direction?

cbenedetto10

The case for the potential bull trap set up this week - After the big bounce last Thursday SPYs been getting some volatile relief this week. I think that it's a big old Bull trap though as it seems SPY is inside of a rising wedge right now. We ended the day today sitting between the support of the rising wedge and the previous resistance of the falling channel...